Isdemir aims to improve production facilities

Isdemir aims to improve production facilities

Turkish integrated steel mill Isdemir is planning modernisation at its plants in the near future in order to renovate the facilities and improve the production technologies. The authorities believe that this will be the way to turn the company to a profitable operation. The company recorded a loss of $700 million in the last five years. With the new investments this financial burden is aimed to be overcome. Basically, a reduction in the workforce is intended. So far $8 million has been spent under the restructuring process and the investments are expected to reach $60 million by the end of 2003. The plans include converting the production from longs into flats. The continuous billet casting facility is planned to be recommence production within a couple of months. Isdemir has three blast furnaces, two of which are currently in operation. The third furnace is put on idle in line with the production scheme and Isdemir believes that total production of two furnaces has achieved the production level of three furnaces already. The third blast furnace will be put in maintenance in 2005 and by 2007 all three furnaces are planned to produce at full capacity.