Turkey-based flat steel and pipe producer Tosyali Holding has signed a joint venture agreement with
Japan's first tinplate producer Toyo Kohan for the
production of flat rolled steel in
Turkey.
Tosyali will have a 51 percent stake, while Toyo Kohan will hold a 49 percent stake in the joint venture to be established with the support of the Investment Support and Promotion Agency of
Turkey (ISPAT). Toscelik's hot rolled coils will be used as feedstock in the plant to be built in Osmaniye located in southern
Turkey. "We are pleased to eliminate
Turkey's dependency on foreign sources as regards high technology steel products," Tosyali Holding chairman Fuat Tosyali said.
The joint venture called Tosyali-Toyo Celik aims to supply its output to automotive, electrical home appliance, IT product and beverage can markets. The products in question will target not only the Turkish, but also the European, Caucasian, Middle Eastern and North African markets.