Turkish Steelmaker Tosyali Seeks to Buy European Producer

Turkish steelmaker Tosyali Holding AS is looking to acquire a producer in Europe to expand its green steel business while advancing multi-billion-dollar projects in Saudi Arabia and Africa.

“We are looking for companies in a similar condition to the one we acquired in Spain last year,” Fuat Tosyali said in an interview during the World Economic Forum in Davos. He was referring to the acquisition of Baika Steel Tubular System, which boosted Tosyali’s spiral steel pipe production capacity to 240,000 tons annually from 150,000 tons. The new acquisition could cost up to $500 million, he said.