Erdemir sells Yarimca Porselen

Erdemir sells Yarimca Porselen

Eregli Demir Celik Fabrikalari TAS (Erdemir) announced yesterday that it signed a memorandum of understanding with Dubai Ports, the world's third largest port operator, to sell half of Yarimca Porselen site for $105 million. Erdemir CEO Mr. Recai Berber said that they had already announced that the port, which is planned to be built on Yarimca site, would be built with a foreign investor. Mr. Berber added that “it is very important that a container port will be built in this region.” The sale, which has been made before Erdemir's privatization, shocked the companies that have expressed an interest in Erdemir. Erdemir had taken over Yarimca Porselen from Evyap in December 2004 for $82 million.