On April 2, Turkish long steel producer Karabuk Demir Celik San. ve Tic Sti. (Kardemir) celebrated the 73rd anniversary of its foundation with the attendance of Turkish Republic Vice President Mehmet Ali Şahin at the Karabük University symposium entitled "Karabük and Demir Çelik since its Foundation."
The groundbreaking ceremony for Kardemir, Turkey's first integrated steel plant, was held in 1937 with the participation of the Turkish prime minister at the time, Ismet Inönü, and the construction of the plant was completed within two years.
As SteelOrbis previously reported, Kardemir, despite its higher output, recorded a loss of TRY 72.28 million ($46.73 million) in 2009 due to lower steel prices. In 2008 the company recorded a profit of TRY 256.69 million.