Turkish pipe producers Ozbal Steel Pipe and Erciyas Holding to merge

Monday, 21 June 2021 15:44:38 (GMT+3)   |   Istanbul
       

Turkish steel pipe producer Ozbal Steel Pipe has announced that it decided to merge with Turkish steel pipe maker Erciyas Çelik Boru to increase its export capacity, optimize costs, and ensure the company fulfills its financial obligations. A request regarding the merger was made to Turkey’s Capital Markets Board on June 17.

The merger will increase the chance of Ozbal Steel Pipe getting a share in large-scale projects worldwide, enabling it to continue its activities in competitive market conditions, while the financial difficulties of the company will be eliminated. Following the merger, Ozbal Steel Pipe’s current production capacity of 150,000 mt is expected to exceed 600,000 mt.

In November 2015, Ozbal Steel Pipe signed an agreement to transfer 51 percent of its shares to Erciyas Holding, as SteelOrbis previously reported. In December 2016, it was decided to merge the company with Erciyas Çelik Boru Sanayi, but the decision was rejected by the Capital Markets Board.


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