Turkish Oyak reaches initial deal to buy British Steel

[cabatli_53]

British Steel, with 150-year heritage, produces 4.5M tons of raw steel annually
Gokhan Ergocun |16.08.2019

FILE PHOTO

ISTANBUL

The pension fund of the Turkish Armed Forces has reached a preliminary agreement to acquire U.K.-based industrial giant British Steel, said a written statement on Friday.

In line with its regional leadership target, Ataer Holding, a subsidiary of Oyak, the pension fund, made an offer to buy the steel producer, said the statement.

The British fund was put on the market by the official authority this May due to financial woes.

Around 80 steelmakers made offers for British Steel and declared their strategic plans for the company.

But Ataer Holding was the only company to acquire the right to analyze British Steel's finances, operations, and legal structure for the next two months.

"If the detailed analysis process results in success in October 2019, the handover is expected to be finished during 2019," Oyak said.

British Steel, with a heritage of 150 years, has production activities in the U.K., France, and the Netherlands.

It has the capacity to produce 4.5 million tons of raw steel annually, and manufactures rail, construction steel, special profiles, and wire rod.

Oyak, established in 1961, is active in several sectors including mining, cement, automotive, finance, chemistry, metallurgy, and energy.

Its assets and exports reached $19.1 billion and $4.7 billion, respectively, as of the end of 2018.

https://www.aa.com.tr/en/economy/turkish-oyak-reaches-initial-deal-to-buy-british-steel/1557804#

 

[cabatli_53]

Oyak Mine group factories ( Erdemir, Isdemir, ErdemirRo ) become 3rd biggest steel producer of Europe in 2016/2017 and 2018 years and 8th biggest of the World.

In 2018/19, Oyak group agreed to make a new investment worth 1 billion $ for Erdemir factory to increase the steel production capacity while improving the productivity thanks to new generation technologies.

Oyak Mine group, Erdemir provides steel blocks for Turkish Naval Warship programs such as Milgem, Istanbul class frigates. With new investment, Unique steels like Hy-100/130 will be produced for submarine programs.

OYAK bought the steel company MIILUX (Finland). MIILUX OY is now constructing a steel factory for producing advanced armor steel in Manisa, Turkiye. Around 1000 companies use MiiluxOy steels all around the World.


In Romanian steel factory (ErdemirRo now) purchased by Oyak, NGO Full processed electrical steels are produced. This type of steel is used on electrical motors, generators, power transformera and all other electro-technical applications as well.

 

[Test7]

https://twitter.com/x/status/1162275762994417665

 

[313ghazi]

Good for them. Steel is an industry that is essential for any successful nation.

I wonder what will happen to the British jobs. British steel is not profitable.

 

[UzaySan]

Good for them. Steel is an industry that is essential for any successful nation.

I wonder what will happen to the British jobs. British steel is not profitable.

We didn't buy british steel factory to make profit. We bought it because we will transfer british steel technology to turkey. With this investment turkey will be able to produce some super complex steel such as submarines steel

 

[cabatli_53]

https://www.worldsteel.org/en/dam/j...2019%20Crude%20Steel%20Production%20Table.pdf

@Quasar thanks
With new investments, I think Turkey will be ahead of Germany in 2020’s.

 

[Indos]

British steel produce very high quality of steel. Congrats Turkey.

 

[cabatli_53]

British steel produce very high quality of steel. Congrats Turkey.

Miilux has a strategic factory for Turkish benefits. They have one of the most advanced steel protection solutions and New factory to be establshed in Manisa will produce MiiluxOY protection solutions to meet the requirements of Turkey and friend countries.

MiiluxOY Protection600 steel armors have 640 HBW ultra-high hard steels. The performance of this steelequals to most advanced French steel MARS-650 (650MBW hardness) developed by Industeel company providing advanced steels for not only military armored vehicles but also nuclear submarines as well.


Miilux OY

A side note, BMC Kirpi MRAP's has already been protected by MiiluxOY steel solutions but I do not suppose They allowed BMC to purchase best Protection-600 solutions but other steels. I don't know the reason but After Turkey owned the factory, they removed perfect 600 series with 640HBW hardness from brochures.

Advanced composite and reactive armor solutions are under the responsibility of Roketsan. They introduced Altay armor solutions in IDEF-19. Turkey took giant steps in advanced armor solutions.

 

[BATMAN]

Goodluck Turkish Oyak.

 

[Yongpeng Sun-Tastaufen]

British steel is good. Turkey needs that to make jet engine.

 

[cabatli_53]

Moreover, a crucial step was taken towards the local production of the armor steel used in the tactical wheeled armored vehicles. According to the information received, the production of indigenous armor steel with an annual capacity of 13,000 tons will be launched at the new factory/facility named as MİLUX OY, which will start its activities in Manisa as part of Erdemir as of July 2019. The production capacity is planned to be increased to 20,000 tons annually after the year 2020. The raw material of the flat steel to be manufactured and processed at MİLUX OY facilities will be supplied from Erdemir and the production technology will be transferred from the MİLUX Company purchased from Finland by OYAK. The initial armor steel sheet metal samples were displayed played at the company’s stand during IDEF’ 19.

https://www.defenceturkey.com/tr/ic...us-solutions-make-their-debut-at-idef-19-3555