“Erdemir Group To Rise Power In Automotive Sector”

16Turkish Erdemir Group is going to raise its share in the automotive sector to reach 50 percent; it also targets to take place among the first three steel producers of the world

Preparing to celebrate its 50th anniversary in 2015, Erdemir Group also proves its success financial indicators in addition to production, exports and stock exchange performance achieved in 2014. Having asset TL15,9 billion ($6,9 billion) and ranking third big iron-steel producer in the EU countries Erdemir Group completed the year 2014 with advantage of EBITDA (Earnings Before Interest Taxes Depreciation), increasing 15 percent compared to previous year.

Raising its total sales as domestic market and in exports 5 percent over the previous year, Erdemir Group has proved another success reaching turnover $5,3 billion. Reaching 40 various countries with its exports and gaining advancement towards its objective step by step to be “a global steel brand in the world class” via its offices abroad, Erdemir Group will invest over $1 billion between 2015 and 2019. Launching a comprehensive transformation action on the way to be a “company in the world class” and took place in the list of “Top steel producing companies”. The company increased its net profit 51 percent and acquired $732 million in 2014.

Erdemir Group Executive Board Chairman Ali Pandir said, “2014 was starting year of our transformation action.” “Our target is to take place in the first three steel producers of the world. We also want to make Erdemir a company in the world class in terms of its powerful financial position, company culture and social effect in addition to production and efficiency. We take place at 10th line of World Steel Dynamics (WSD) among the best 36 steel producers’ list of the world. In the scope of ‘Vision 2020’ – we have set our date and roadmap last year – in order to be a top company in the world class. We will try to be one of the best of the world within next 5 years,” he said

The investments for Erdemir Group were separated in four groups including renewal, environment, energy recycling and capacity increase-production diversity. Erdemir Group accomplishes 27 percent of the steel exports of Turkey that reached 905 thousand tons. The group ships its products to 40 countries including the USA, Germany, UK, France and India as well as Peru, Russia, Azerbaijan and Thailand. The usage areas of Erdemir steel cover many sectors such as light commercial vehicles, automobiles, white goods and other industrial sectors.

Our role will increase in automotive” Stating they had given importance to automotive, Pandir said: “We want to raise our share in automotive sector to 50 percent. We must keep up with every kind of development in the automotive sector. Currently our share is 35 percent in the sector. We have set up first steel R & D center of Turkey to raise our share and also to develop qualified products for both automotive and other sectors.”