The German giant withdrew from the steel business, Borusan's oldest partnership. Borusan Mannesmann, which had a turnover of 6 billion liras, was experiencing a new investment process. In January, the foundation of the plant in Romania was laid, and in April, a steel plant worth 162 million dollars was purchased from the USA.
Borusan Mannesmann, which closed the year 2022 with a turnover of over 6 billion TL, bought the shares of its partner.
Although a statement was made to the KAP last week, the terminated cooperation did not come to the fore.
Changes were made in the partnership, 26.52 percent of which is open to the public and 73.48 percent of the shares belong to Borusan Holding and Salzgitter Mannesmann. With the 23 percent share transfer, all of its non-stock shares were transferred to Borusan Holding, while German Salzgitter Mannesmann left the partnership.
Borusan Holding bought the shares of its German partner for 52 million euros.
Borusan Mannesmann shares have increased by 668% in the last one year.