Turkish steel producer Kocaer Celik has approved the establishment of a new company in the United States as part of its strategy to strengthen its global competitiveness, according to a stock exchange filing.
The new company, in which Kocaer Celik will hold a controlling stake, will engage in manufacturing, sales and marketing activities in the US.
The company did not disclose the investment value, production capacity, location or timeline for the new venture.
Kocaer Celik operates three steel profile plants in Aliaga with a combined annual capacity of 800,000 tons, along with a 180,000 tons per year steel service center and a 100,000 tons per year galvanizing facility.