Turkish steelmaker to build steel plant with Japanese partner

Turkey-based flat steel and pipe producer Tosyali Holding has signed a joint venture agreement with Japan's first tinplate producer Toyo Kohan for the production of flat rolled steel in Turkey.
 
Tosyali will have a 51 percent stake, while Toyo Kohan will hold a 49 percent stake in the joint venture to be established with the support of the Investment Support and Promotion Agency of Turkey (ISPAT). Toscelik's hot rolled coils will be used as feedstock in the plant to be built in Osmaniye located in southern Turkey. "We are pleased to eliminate Turkey's dependency on foreign sources as regards high technology steel products," Tosyali Holding chairman Fuat Tosyali said.
 
The joint venture called Tosyali-Toyo Celik aims to supply its output to automotive, electrical home appliance, IT product and beverage can markets. The products in question will target not only the Turkish, but also the European, Caucasian, Middle Eastern and North African markets.