Turkey’s Tosyalı Holding has acquired fellow Turkish steelmaker Baştuğ Metalurji, which had been facing financial problems for some time now, according to media reports. The acquisition, which will increase Tosyalı’s annual liquid steel production capacity from six million mt to eight million mt, will also contribute to the company’s global competitiveness.
Baştuğ, which operates in Osmaniye and Hatay and whose facilities have been idled for about seven months, has an annual long product capacity of two million mt. Tosyalı currently produces billet, wire rod, merchant bars, slab, HRC, CRC, coated steel and pipes.