The Steel Structure and Construction Summit organized by ArcelorMittal and its majority-owned Turkish distributor Rozak was held in Ciragan Palace in Istanbul on Wednesday, November 28.
The summit, which was officially opened by Süleyman Zakuto, chairman of ArcelorMittal Distribution Turkey Rozak Demir Profil, offered an opportunity for both emphasizing the importance of steel structures and for the announcement of a new structuring in the Turkish market following ArcelorMittal's recent acquisition of its majority stake in Rozak.
Speaking at the summit, ArcelorMittal board member Gonzalo Urquijo stated that the acquisition in question is of great significance as it constitutes the first step taken in ArcelorMittal's response to the strong demand in Turkey. Urguijo said, "The steel market in Turkey is the fastest growing one in the world. The construction sector, which has indicated a growth of more than 100 percent, is pretty dynamic. The acquisition of the majority stake in Rozak will take our steel distribution capacity to the target we set for 2010."
Meanwhile, ArcelorMittal's vice president for steel solutions Philippe Darmayan stated that they want to further expand in Turkey, in addition to the Middle East and Caspian region, with the synergy they will create with Rozak, adding that they intend to increase Rozak's annual capacity to one million tons from the current 460,000 tons.