Akçelik acquired Tristar Steel company in Romania

Turkish companies have come to the forefront with their foreign investments in iron and steel in recent years. Many companies are acquiring companies or establishing new facilities abroad. Continuing its activities at home and abroad, Akçelik also started an investment attack on its way to becoming a global company. Having bought a company that went bankrupt in Germany in March 2020, Akçelik made the factory one of the leading bright steel producers in Europe within 7 months. The company has added a new one to its overseas investments.

Yavuz Kılıç, General Manager of Akçelik, emphasized that with the increasing demand in the iron and steel industry, they decided to invest both in the country and abroad. Stating that they purchased the Tristar Steel company, which produces chrome-plated steel and pipes in Romania Targovişte, Kılıç said, “This company is the critical player in the world for the production of mechanical parts that produce motion and the hydraulic system. It is very strong in Germany and Italy markets, especially in Northern European countries. It has an annual production capacity of 3.5 million meters. We aim to double this capacity in five years,” he said.

It also focused on domestic

Noting that there is activity in the sector, Kılıç said, “The return of China and Russia to their own markets has been an opportunity for us. There has been a significant increase in orders since June 2020. In particular, our exports to Germany and other EU countries increased. There is also a high demand in the domestic market. We have commissioned new investments in this direction.” Expressing that they are the company that distributes the most products in alloy and engineering steel in Turkey, Kılıç said that they have started investments in the high alloy and tool steel segment and serve the market. Stating that they aim to enter the top three in the tool steel market in the medium term, Kılıç said, “We aim to meet all the needs of the automotive industry in the production of bright steel.” Stating that they act with a competitive price and quality product strategy in the products they sell in the factory in Germany, Kılıç emphasized that they aim to further enlarge the bright steel production facility in Germany and establish a steel service center.