During an interview with Bloomberg HT, Fuat Tosyalı, chairman of the executive board of Turkey-based Tosyalı Holding, has given details regarding the company’s new investment plans and has made some evaluations regarding the market.
Mr. Tosyalı stated that the company is in talks to make another major strategic acquisition in Europe that could be worth up to about $500 million, following the purchase of Spain-based Baika Steel Tubular System, as SteelOrbis reported previously. He hinted at that, since Tosyalı Holding’s steelmaking segment is strong enough, it needs to make investments to deliver its steel to end-users.
Furthermore, Tosyalı pointed out that the company is increasing its investments in Africa and that, apart from its investments in Algeria, it will be gradually starting up its direct reduced iron (DRI) project in Libya. He also added that Tosyalı Holding is gradually achieving its aim of becoming one of the world’s top 20 steelmakers.