Sep 11 2007
ArcelorMittal announces the proposed acquisition of 51% of the shares of Rozak A.S. (“Rozak”), the main Turkish steel stockholding company. The transaction is subject to antitrust authorities’ approval, and is expected to be completed by year-end 2007.
For Gonzalo Urquijo, member of the Group Management Board of ArcelorMittal and in charge of Steel Solutions & Services , “ this acquisition is an important step for ArcelorMittal to meet the strong Turkish demand in all products. Turkey is one of the fastest growing steel markets. The construction sector is very dynamic, with a growth rate above 10%. The acquisition of this stake in Rozak will allow our steel distribution business in this country to reach its capacity target in 2010”.
Rozak is specialized in H-profiles, sheet and plates. In 2006, it shipped 450 000 tons and its turnover reached 260 million euros. ArcelorMittal is already the major supplier of Rozak. The company, which employs a hundred people, was created in 1983 and was owned since then by the founding family.
Rozak has 5 sites in Turkey: Gebze, Ikitelli, Eregli, Iskenderum and Izmit. Office buildings are located in Ikitelli and Eregli. Gebze and Izmit are both currently expanding.
ArcelorMittal is already active in Turkey in flat carbon steel production, through a participation in Borçelik, as well as in the packaging and steel service centre businesses.