# 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.

- Type: Acquisition
- Announced: 2021-01-04
- Where: Türkiye
- Value: $340.0M
- Status: announced
- Products: magnesia, refractories
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md), [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Erdemir Group](https://endata.com/companies/39536.md) (acquirer)
- [Kümaş](https://endata.com/companies/52407.md) (target)
- [Gözde Girişim Sermayesi Yatırım Ortaklığı A.Ş.](https://endata.com/companies/52408.md) (partner)
- [Yıldız Holding A.Ş.](https://endata.com/companies/52409.md) (partner)

## Sources

- [imformed.com](https://imformed.com/magnesia-refractories-major-kumas-acquired-by-turkish-steel-leader-erdemir/), 2021-01-09: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.