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ArcelorMittal to Acquire 51% of Turkish Steel Producer Rozak

09/11/2007 - ArcelorMittal announces its proposed acquisition of 51% of the shares of Rozak AS, the main Turkish steel stockholding company.

ArcelorMittal announced the proposed acquisition of 51% of the shares of Rozak AS, the main Turkish steel stockholding company.
 
Specializing in H-profiles, sheet and plates, Rozak shipped 450,000 tons in 2006. ArcelorMittal is already the major supplier of family-owned Rozak, which employs a hundred people. Rozak has five sites in Turkey: Gebze, Ikitelli, Eregli, Iskenderum and Izmit, with Gebze and Izmit both currently expanding. Office buildings are located in Ikitelli and Eregli.
 
“This acquisition is an important step for ArcelorMittal to meet the strong Turkish demand in all products,” said Gonzalo Urquijo, member of ArcelorMittal’s Group Management Board and responsible for Steel Solutions & Services. “Turkey is one of the fastest-growing steel markets. The construction sector is very dynamic, with a growth rate above 10%.
 
ArcelorMittal is already active in Turkey in flat carbon steel production, through its participation in Borçelik, as well as in the packaging and steel service centre businesses.
 
“The acquisition of this stake in Rozak will allow our steel distribution business in this country to reach its capacity target in 2010,” added Urquijo.
 
The transaction is subject to antitrust authorities’ approval, and is expected to be completed by year-end 2007.
 
Created in 1983 and owned since then by the founding family, Rozak specializes in H-profiles, sheet and plates. In 2006, it shipped 450 000 tons and its turnover reached 260 million euros.
 
ArcelorMittal is the world's largest steel company, with 320,000 employees in more than 60 countries. The company leads a number of major global markets, including automotive, construction, household appliances and packaging, with leading R&D and technology, as well as sizeable captive supplies of raw materials and outstanding distribution networks. An industrial presence in 27 European, Asian, African and American countries exposes the company to all the key steel markets, from emerging to mature, positions it will be looking to develop in the high-growth Chinese and Indian markets.
 
ArcelorMittal’s key pro-forma financials for 2006 show combined revenues of USD 88.6 billions, with a crude steel production of 118 million tonnes, representing around 10% of world steel output.