Erdemir acquires magnesia and refractories producer Kümaş for $340M

Turkish steel producer Erdemir has acquired magnesia and refractories major Kümaş from Gözde Girişim Sermayesi Yatırım Ortaklığı A.Ş. and Yıldız Holding A.Ş. for US$340 million. The share transfer agreement was signed on 4 January 2021.

“The move reinforces the prevailing ownership trend affecting the shrinking group of refractory magnesia producers worldwide as they are subsumed into larger magnesia refractory end user groups.”imformed.com

• 1 source
• imformed.comMagnesia & refractories major Kümaş acquired by Turkish steel leader Erdemir – Industrial Minerals Networking | IMFORMEDMike O'DriscollJan 9, 2021

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