Corus expresses its interest in Erdemir

Corus expresses its interest in Erdemir

Anglo-Dutch steel producer Corus' CEO Philippe Varin has expressed its interest in Erdemir privatization. In his statement, Mr.Varin stated that Corus wants to takeover majority stake in Turkey's sole flat producer Erdemir. He also stated that Corus has been operating in Turkey for 30 years as a partner of Yasan Demir Celik Company and acquisition of Erdemir Group, which holds Eregli Demir Celik Fabrikalari TAS (Erdemir) and Iskenderun Demir Celik TAS (Isdemir) would be a strategic investment and great opportunity for the company. Mr. Varin also stated that the capacity of Erdemir and Isdemir, which is totally 5 million tons, can easily be increased and Turkey may export iron and steel to Europe. CEO of Corus also expressed that the company does not want to focus only on flat steel production in Turkey but wants to focus on reinforcing bar production.