On February 3, 2009, Turkish steel trader Buyurgan Group Steel Division, mainly active in the international steel trading of a wide range of carbon steel products, has announced that, it has been taken over by Turkish trade, project and finance organization Energy Holding.
Accordingly, Energy Holding acquired the share capital of Buyurgan Group Steel Division from its private owners. The company representatives stated that the change occurred as a result of the share sale decision of the family members, the company's majority shareholders, who decided to grow and invest in mining sector rather than iron and steel industry.
Turkey, Istanbul based Buyurgan Group Steel Division will continue its operations with its new name: Energy Holding Steel Division (EHSD). EHSD will operate the same style that it was operating for more than 35 years, without any drastic change in its business structure, while it plans to increase the volume of its expanding actual operations.
The financial value of the transaction has not been disclosed.
EHSD sources annually over 1.5 million mt of raw materials, semi finished steel products, longs, flats and tubular steel products worldwide, specifically Far East, Middle East, CIS, Africa, East and West Europe, the Americas into several industries, namely iron and steel, automotive, construction and agriculture.