Tata Steel Netherlands, a subsidiary of Indian steelmaker Tata Steel, has announced that it has decided to close its Turkey-based color coating business Tata Steel Istanbul Metal Industry (TSIM) as the production activities in Turkey have been negatively affected financially by rapidly changing market conditions such as increased competition and price fluctuations. Current conditions are expected to continue in the medium and long term.
TSIM’s color coating line and service center, located in Adapazarı and employing 90 people, offers color-coated steel products mainly to the European and Turkish markets. The closure of production and operations in Adapazarı will take place gradually over the coming weeks.
“We will remain active in Turkey with our sales and after-sales services,” Gunilla Saltin, member of the board of directors of Tata Steel Netherlands, said.
