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.