Turkish integrated long steel producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. (Kardemir) has announced that in 2016 its crude steel production increased by one percent to 2.17 million mt, compared to 2015. In the same year, its finished steel production totaled 2.08 million mt, up two percent year on year.
According to Kardemir’s statement, it plans to increase its crude steel production volume further in the current year to around 2.4 million mt. Meanwhile, the company aims to produce 3.0-3.5 million mt of crude steel annually in the medium and long term.
Regarding its investments, Kardemir stated that since 2010 it has invested more than $1.1 million in increasing its production capacities and ensuring product diversity with high added value products. In addition, the company has recorded an EBITDA margin of more than 15 percent over the past five years. It further stated that its new rod and coil mill will also have a positive effect on its competitiveness, while it will also continue its investments to reduce costs in the current year.
Meanwhile, Kardemir also said that the railway wheel plant which is built within the scope of the company’s strategic investment program will be commissioned in 2018 and that Turkey will be able to produce its own railway wheels and in the medium and long term, with this value-added product to be an important asset for the company.