The special steel producer expects to expand its export activities in Europe
Leading Turkish special steel producer Yukselen Celik aims to enter the German market to expand its export activities in Europe and increase its presence in the global market. Kallanish reports about it.
Yukselen Celik announced the establishment of a subsidiary company Rising Stahl GmbH in Düsseldorf, Germany. It will begin operations primarily as a sales office in Europe and will have leased warehouse space. In the future, if necessary, the parent company plans to create a steel service center or a steel processing plant.
With the help of a subsidiary in Dusseldorf, Yukselen Celik plans to sell its products in Germany (with an emphasis on North Rhine-Westphalia) and other EU countries.
The procedure for the creation of Rising Stahl is planned to be completed by the end of this year, and its operations will begin no later than the first half of 2024. It is predicted that this will have a positive impact on Yukselen Celik’s export and transit activities already in the second half of next year.
In 2022, Yukselen Celik founded the subsidiary Rising Steel Inc. in Chicago (USA) to increase the share of exports in total sales revenue. As of the end of last year, the Turkish company increased the share of exports in revenues by about 6.5% thanks to an export office opened in Istanbul and a subsidiary in the United States.
As GMK Center reported earlier, Yukselen Celik expects to increase production capacity up to 200,000 tons per year thanks to the investment in the Dilovası service center. Its commissioning was planned no later than the end of 2023.