|
Cukurova sells Turkish steel operation |
| Cukurova,
the Turkish conglomerate has sold its steel making and rolling operations
in Aliaga, in Izmir, in western Turkey to Ege Celik, also in Aliaga. The
Cukurova operation has a nominal steel making capacity of 1.2m t/y. In
1999, it produced 460,000t and in 2000, 440,000t. Its products include
billet, wire rod, and rebar. It is believed Cukurova sold its steel plant, primarily because of the continuing recession in the local market. This is in part due to the long products over capacity in the country, which is said to be around 5m t/y, and part due to the currency crisis of February. |
| 24th Dec 2001 |
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