Turkey's biggest steel producer, Erdemir Group, has denied making an offer to acquire struggling UK long steelmaker British Steel, it said in a stock exchange disclosure late on Sunday July 14.
"In some news published in [the] international media and reflected in the [Turkish] national media, it was claimed that our company made an offer for the acquisition of British Steel," the disclosure said. "This claim is unrealistic, and our company has no relationship with the company in question."Erdemir produces both flat and long steel products and has recently focused on the export market, amid limited local demand in Turkey for flat steel because of weak consumption among end-users, including the automotive sector.Export...