Hatay-based domestic steelmaker Koç Metalurji has announced an equipment investment at its production facility located in the Osmaniye Organized Industrial Zone.
Accordingly, the company has entered into a purchase agreement with the Chinese equipment supplier Harbin GuangWang Electromechanical Ltd. for a continuous casting machine worth $3.5 million. The equipment is expected to be ready for delivery within seven months and will help increasing the capacity, as well as contributing to turnover and profitability of the steelmaker.
On the other hand, Koç Metalurji has announced its financial results for the first nine months of this year.
In the given period, the company achieved a net loss of TRY 433.39 million ($10.31 million), compared to a net profit of TRY 176.72 million in the January-September period of the previous year, while it registered an operating loss of TRY 234.13 million ($5.72 million) in the given period. Koç Metalurji’s sales revenues increased by 7.3 percent year on year to TRY 14.91 billion ($354.89 million).