Erdemir not to submit binding offer for Ilva

During an interview with the Bloomberg HT, Ali Pandir, CEO of Turkey’s largest integrated steelmaker Erdemir Group, said that they have examined Italian steelmaker Ilva’s plants in Italy and have analyzed the company details, but they will not be submitting a binding offer for Ilva.

Meanwhile, regarding the second quarter of the current year, Mr. Pandır said that Erdemir’s financial performance will be above the expectations since steel prices increased after February. In the second quarter, Erdemir expects its EBITDA to exceed 15 percent.