Competition probes open against Turkey’s iron and steel giants

ANKARA

The Competition Board has opened a probe against a number of iron and steel companies, including Kardemir, according to an announcement on the board’s website.

The investigations were opened against Çağ Iron and Steel, Çelsantaş Iron Products, Yolbulan Iron Products and Yolbulan Shipment in addition to Kardemir.

In a pre-investigation which was launched upon complaints, the activities in the sector of the companies were probed but proceedings were dropped, according to the statement.

“This board decision was, however, later canceled by a decision by the 13th department of the Council of State, numbered 2011/2373 E and 2016/777 K and dated March 22, 2016,” added the statement.

In line with this ruling, the board negotiated the related documents in a meeting on Aug. 18, and decided to open a probe against the companies to understand whether there was a violation in the scope of the 4th, 6th and 7th articles of Law No. 4054, according to the statement.