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Erdemir is a Turkish steel producer. The name is a contraction of the Turkish language Ereğli Demir ve Çelik Fabrikaları which mean "Eregli Iron and Steel Factory".
Erdemir in brief
Erdemir, which began production in 1965, today has a production capacity of 3.0 million tons/year of crude steel. It is the largest iron and steel company in Turkey and the only flat steel producer. It produces plates, hot and cold rolled sheet and tinplate.
Its main plant is located on an area of approximately 4 square kilometers at Karadeniz Eregli, Zonguldak on the shore of the Black Sea.Erdemir operates a large port to import and export materials.
Erdemir has also acquired the steel plant at İskenderun in Hatay province, Turkey.
Military pension fund OYAK acquired a 49.29% stake in Erdemir on 4 October 2005 for $2.77 billion in a televised auction. The fund acquired 46.12% came from the Turkish Privatisation Administration (OIB) and was also obliged to purchase an additional 3.17% stake from a Turkish bank.
OYAK beat out five other bidders for Erdemir. This included Mittal Steel, Arcelor, Novolipetsk Iron & Steel (NLMK) and Severstal, which bid in consortium with the Nurol-Limak-Ozaltin-Alkol Pazarlama joint venture group. The Eregli joint venture group also participated in the auction.
See also
External links
Companies of Turkey | Companies listed on the Istanbul Stock Exchange
"Erdemir"