Erdemir finally takes control of Isdemir

摘要

Turkish flat products producer Eregli Demir Celik (Erdemir) has, after many months of delays, taken control of state-owned Iskenderun Iron & Steel Works (Isdemir).Erdemir first won government approval to acquire Isdemir for 50m dollars a year ago (MB Feb 8 2001), following a previous year of delayed sale deadlines. After the union agreed a deal last July the strip producer had to wait for funding from the privatisation authority to clear Isdemir's debts. Erdemir has guaranteed to invest 700m dollars -1bn dollars to convert the Iskenderun plant into a flat steel producer.