Erdemir reports $1.3 billion turnover for 2003
According to recent news in the market, Turkish integrated flat producer Erdemir TAS reported $1.3 billion turnover for 2003, with an increase by 48.6% when compared to 2002. Moreover, Erdemir is reported to have increased its production to 3.53 million tons up by 12.3 when compared to 2002 and the profit of the company is exceeding $200 million against the $42 million loss recorded in 2002. For 2004, Erdemir targets production of 3.5 million tons, $1.3 billion turnover, decreasing exports from 750'000 tons to 500'000 tons due to strong local demand and investment of $230 million, except investments regarding Isdemir.