Akçelik, one of Türkiye's leading steel producers, transferred all its shares in Tristar Steel, its Romania-based subsidiary acquired in 2021, to Exxellin GmbH, one of Europe's leading linear system manufacturers. After the sale, it was stated that the cooperation between the parties will continue in different fields.
Exxellin GmbH, which is globally recognized in the field of high precision steel shafts and chrome plated bars, aims to further increase its production and supply power in Europe with this acquisition. The transfer was evaluated as a step taken in line with Akçelik's long-term strategic goals.
Production and supply will continue under the Tristar brand
Akçelik announced that it will continue its production activities and marketing under the Tristar brand in the post-sale process. It will also continue to supply raw materials to Exxellin for Tristar Steel's production processes. Thus, it is aimed to preserve the long-term cooperation structure between the parties.
“Tristar's contribution was appreciated”
In a statement released by Akçelik, Tristar Steel's contributions to the investment in the hard chrome plated shaft production facility in Türkiye were underlined. It was emphasized that Tristar's experience of more than 40 years in the sector played an important role in the successful realization of the investment.
The statement also wished that the sales process would be beneficial for all parties and wished Exxellin GmbH and Tristar Steel success in the new period.
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