Turkey’s Akçelik acquires German bright bar shop

Turkish SBQ distributor Akçelik has acquired a bright bar producer in the Cologne area and established a German entity. Akçelik is the biggest distributor of steelmaker Asil Çelik, according to the company’s website.

The shop acquired is Blankstahlwerk Sindorf (BWS), located in the Sindorf commercial zone in Kerpen, west of Cologne, a region with otherwise little steel processing activity. According to Akçelik, BWS operates in the field of peeling rounds of 14-200mm and serves mainly the automotive and machinery manufacturing industries.

The company has existed for some 26 years and during that time has had several owners, Kallanish learns from a local manager. Originally owned by its founders, it temporarily belonged to Dortmunder Blankstahl, which itself is part of Ruhrstahlgruppe that has several SBQ activities.

Some eight years ago, it separated from Dortmunder Blankstahl in a management buy-out, and last year went into insolvency. The acquisition by Akçelik is effective 2 March. This is also the founding date of Akçelik Blankstahl und Service GmbH as given in the trade register, with an address in Düsseldorf. Akçelik’s first investment in Germany is a part of the company’s foreign growth strategy, it says.