ArcelorMittal to Double Operations of Stainless Service Center in Turkey

July 14, 2008
In 2007, the center processed about 38,000 tons of stainless steel and had revenues of about $102 million.

ArcelorMittal and Primex (Germany) have reached an agreement whereby ArcelorMittal Stainless International is acquiring the 35% stake in Uginox Sanayi ve Ticaret Limited Sirketi ("Uginox") which was owned by Primex.

Uginox was formed in 1997 as a 65/35 joint venture between Arcelor and Primex. Uginox operates a coil processing and service center in Gebze, close to Istanbul. Most of its business is dedicated to servicing the fast growing automotive and white goods markets. In 2007, it processed about 38,000 tons of stainless steel and had revenues of about $102 million.

ArcelorMittal has also decided to gradually double, over the coming years, the size of its stainless service operations in Turkey, which will be renamed ArcelorMittal Istanbul Stainless Service Turkey.

Jean-Yves Gilet, CEO of ArcelorMittal Stainless, said: "This transaction consolidates our positions on a fast growing market and allows us to follow our key customers from the appliance and automotive sectors in their own development."

Popular Sponsored Recommendations

Global Supply Chain Readiness Report: The Pandemic and Beyond

Sept. 23, 2022
Jabil and IndustryWeek look into how manufacturers are responding to supply chain woes.

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

How Organizations Connect and Engage with Frontline Workers

June 14, 2023
Nearly 80% of the 2.7 billion workers across manufacturing, construction, healthcare, transportation, agriculture, hospitality, and education are frontline. Learn best practices...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!