Tosyalı partners with Toyo

ISTANBUL - Reuters

Tosyalı Holding, a domestic flat steel and steel pipe manufacturer, and Japan’s Toyo Kohan have signed a cooperation agreement regarding steel production in Turkey, according to a statement by the holding. The steel production will be for the European, Transcaucasian, Middle Eastern and North African markets, as well as the Turkish market, the statement said.

Tosyalı Holding will have a 51 percent stake in Tosyalı-Toyo Çelik A.Ş. while Toyo Kohan will control the rest, the holding said.

The venture will produce products aimed at the automotive, electrical home appliance, information technology and beverage can sectors.

Toyo Kohan is active in electroplating, laminating and other activities and possesses the highest production technology in its sector in the world, according to the Tosyalı statement.