Madrid, Spain-based Gonvarri Steel Services, a part of Gonvarri Steel Industries, has announced that it has acquired a 51 percent stake in Turkish company Cepas.
With this acquisition, Gonvarri Steel Services has made a major commitment to the Turkish market. From Cepas' factory in Turkey, GSS will service the European market for road safety, hot dip galvanizing and other steel products with particular focus on Eastern Europe and Germany, Middle East and North Africa.
"Turkey is a market with good growth perspectives in infrastructures and road safety," said Josu Calvo, CEO of Gonvarri Steel Services, adding that "with this acquisition we reinforce our international presence, increasing our services to countries in a more direct and flexible way."