BY KERIM ULKER
Yildirim Holding’s mining and mineral processing subsidiary Yilmaden has acquired the Albania-based chrome and ferrochrome producer ALBChrome.
The holding has raised its ferrochrome production capacity by approximately 70,000 to 650,000 tons with the acquisition.
The number of countries where Yilmaden operates has also risen to five with the buyout. Outside of Turkey, Yilmaden carried out chrome and ferrochrome operations in Kazakhstan, Russia, and Sweden before the acquisition.
Yildirim Holding has adopted an expansion strategy in Europe. The holding company is also in talks to incorporate the Croatia-based chemical company Petrokemija, which specializes in agricultural fertilizer manufacturing. If the agreement is finalized,
Yildirim Holding will acquire the second-largest petrochemical facility in Croatia.
ALBChrome, which was established by the Communist government of Albania as a state-owned enterprise, was privatized in 2000. The company employs 1,100 people and exports to more than 50 countries. ALBChrome is considered the largest chrome producer in Albania and among the largest ferrochrome manufacturers in the world.