Tuesday, September 27, 2005

Bidders make offer for Erdemir

ANKARA - Arcelor, Eregli Joint Initiative Group, Mittal, NLMK-Open Joint Stock Company, Nurol-Limak-Ozaltin-Severstal and OYAK offered bids for the privatization of iron-steel producer Erdemir.
The auction took place for the privatization of 46.12 percent of the total shares of Erdemir.
The deadline to submit bids for the privatization of Erdemir was 1600 hours today. Azovstal-Metinvest Joint Initiative Group (Ukraine), Corus Group PLC (Britain), Koc Holding A.S. (Turkey), LebGoK-Oskol Joint Initiative Group (Russian Federation), Posco (South Korea) and Zorlu Holding A.S (Turkey) who had obtained a preliminary authorization did not submit a bid
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, all to international quality standards.

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