Turkish pipe manufacturer Erciyas Celik Boru announced that its subsidiary, Erciyas Tech Ventures Technology Investments Inc., in which it holds a 55pct stake, has partnered with Cimtas Advanced Technology Solutions Inc., a subsidiary of ENKA Insaat ve San. A.S., to establish a 50:50 joint venture named Blacksteel Technology Investments Inc. The joint venture will focus on developing advanced technologies, according to a stock exchange filing.
The new entity aims to drive global innovation projects by leveraging the combined operational and production strengths, R&D and P&D expertise, technological investment experience, and advanced engineering capabilities of both the Cimtas and Erciyas groups.
Blacksteel will also make long-term strategic investments in high-tech companies, both domestically and internationally, focusing on cutting-edge fields, particularly in the hyperloop sector. The goal is to efficiently combine the strategic know-how and resources of both groups to achieve success across various technological industries.
Earlier this year, the company formed Erciyas Hyperloop Technology in partnership with RC Endustri Ulasim Araclari A.S. to focus on manufacturing capsule wagons and tubes for Hyperloop technology. By combining their expertise in railcar production, the two companies aim to invest in wagon and pipe production specifically tailored for Hyperloop technology.
Erciyas Celik Boru specializes in producing steel line pipes, with diameters ranging from 10″ (273.1 mm) to 160″ (4,064 mm), and an annual production capacity of 600,000 tons.
