One Step Towards Creating A Developing Industry And A Strong Economy
image loader

10.11.2023

One step towards creating a developing industry and a strong economy

The start of production was one of the turning points for Turkey, which was trying to develop its economy in line with its development plan. Turkey, which started serious moves in the field of industry in the 1950s, spent a significant amount of foreign currency and a significant portion of its imports consisted of flat products. The need for flat steel was increasing in order for new industrial branches to develop. At this point, one of the most important strategic steps in Turkey's development planning was taken and it was decided to establish Erdemir.

In 1959, a committee established by the Ministry of Industry and the Koppers company in the USA initiated studies on the feasibility study and the status of the company that would establish the facility to produce flat steel. Koppers Associates SA, İş Bankası A.Ş., Iron and Steel Enterprises General Directorate and Ankara Chamber of Commerce and Industry were among the founders of the company that will produce flat steel. With a protocol signed by these organizations at the end of 1959, an enterprising committee was selected to prepare and execute the principles such as the draft law, the Founders' Agreement and the Company's Articles of Association for the company to be established.

The Founders' Agreement was signed on February 12, 1960 to establish Turkey's first flat steel production facility. With a law numbered 7462 adopted on February 28, 1960, Ereğli Demir ve Çelik Fabrikaları T.A.Ş. The Council of Ministers was authorized to establish a joint stock company named (Erdemir). In Turkey, which was making rapid industrialization moves, its establishment was officially registered with a special law on May 11, 1960, in order to nourish the existing industry and to establish and develop new industrial branches.

Erdemir started its journey on May 15, 1965, with an annual production capacity of 0.5 million tons of crude steel and 0.4 million tons of flat steel.

Became Turkey's leading steel producer with its continuous growth strategy