KARDEMİR A.Ş Ordinary General Assembly was held

KARDEMİR A.Ş Ordinary General Assembly was held: The Ordinary General Meeting of Karabük Demir Çelik Sanayi ve Ticaret A.Ş. (Kardemir) was discussed at the KARDEMİR Education and Culture Center.

In the opening speech of the General Assembly, Kamil Gulec, the Vice Chairman of KARDEMIR AS, said that the facilities that started production with a capacity of one thousand tons in 1939 in 150 exceeded the production level of 7 million tons for the first time in its history with the production realized on 2015 December 2.

”TARGET 3 MILLION TON STEEL PRODUCTION“
Güleç, 1995 500 thousand tons of capacity in the privatized, and especially since the 2002 with investments continue to increase every year after the privatization KARDEMIR'in world iron steel industry, which is an important criterion by explaining the level of production, N Vision; 'Producing the products not manufactured in Turkey with global competitiveness, to produce at least 3 million tons of steel' as it determines KARDEMİR, while increasing the production capacity on the one hand, the non-value-added manufactured in our country from the other side also increases the diversity of products with high products. As of 2010, KARDEMİR produced 1 million 2015 thousand tons of liquid steel in 2. In recent years, KARDEMİR, which is a producer of rebar and billet, has started to produce non-production products in our country such as high-speed train tracks, mushroom hardened rails, railway shears and heavy profiles which are not produced anywhere as a single-rail manufacturer between our country and the region. Geçmiş

”NEW INVESTMENTS INCREASE KARDEMIR'S COMPETITIVENESS '
KARDEMİR to contribute to Turkey's import-export balance of the year 2016 the end of April 700 thousand tons / year capacity Rod and transfer their receivables activated at the Wire Rod Mill Kamil Gulec, "Installation procedures Turkey to produce value-added products compared with other plant in the rolling mill sector continues' will be the only facility. One other important ongoing projects is the investment Rail Wheel can not be produced in Turkey. According to the 2014 data, 20 has been imported into one thousand units and this requirement will be increased to 2023 by 1,000 units according to the 50 business plan. Kardemir's 200 thousand units / year capacity 50 thousand wheels per year with this plant will be reduced to zero the import of Turkey and 150 thousand units / year export potential will occur. Our goal is to increase the competitiveness of Kardemir by rapidly completing the investments that will add strength to our power, such as Rod and Coil Rolling Mill, Rail Wheel Manufacturing Plant, Rail Hardening. These projects, which will increase KARDEMİR to 3 million tons and which will enable the production of high value-added imported products in our country, will be achieved by a port or port alternative in Filyos. In this context, it is our greatest goal to create an opportunity for KARDEMİR to meet the needs of a quay and storage area instead of the pier on its own land. Our project in this direction is prepared for all technical details. The fact that the Filyos Project is brought to life will bring Kardemir to the sea, it will open up to the world and bring a serious economic life to our region F.

İ The Chinese Thracian “
Gulec continued his speech:
Oldu 2015 was a year in which the growth in China's economy, which had been gradually growing, had created a surplus of supply in industrial production and began to change the balances around the world. This situation in China has affected most of the world steel industry and thus our country. 1.6 billion tonnes of steel in the world is produced in China, 2015 441 million tons of steel in China in excess of 2015; it is a fact on a global scale that this situation has led to historical decreases by suppressing the prices. In the Chinese steel industry, which is producing on demand, the focus is heavily on the export markets, and in the 100 year, China's steel exports have surpassed the 2017 million-ton threshold, which is more than the production of non-Japanese countries. It has been. As such, in the 150, China's steel exports are estimated to be 2016 million tons. We expect this to affect at least the first quarter results of 50. China's rapidly growing steel exports have led to a decline in the capacity utilization, production and margins of industrial enterprises in many countries of the world and many facilities have even been disabled. Turkey is the world's eighth largest steel producer and 63 million tons of annual crude steel production capacity while having; It is another fact that our steel production has declined despite the increasing consumption, the capacity utilization rates have fallen to 2013 and our country has become the importer from the exporter position for the first time after years. As it is known, the sector we are in is hard with the experiences experienced as the sector that gives the hardest reaction to the economic fluctuations. For this, without going back to the sector 2014-2015 years and sales prices and profit margins would be sufficient to consider. Our management has paid much attention to the general reality of the economy, the year we have left behind, and has taken care to use our assets correctly by prioritizing our investment expenditures, production, cost, efficiency and profitability concepts. This discipline has been our priority in 2015 activity period as in every activity period. Despite all this, Turkey is continuing growth in steel consumption. In 12,8, steel consumption increased by 2016. Some projects, which are dominated by uncertainty before the election, continue with the new government and we expect the growth to accelerate, this increase in consumption will be reflected on production and we are looking at the XNUMX year more positively. Seçim

"CONTINUES TO WALK WITH SURE STEPS TO ITS GOALS"
Güleç also recalled that the bond issuance of KARDEMİR took place at 20 November 2015 and said, tah The sale transaction of our Company with a nominal value of 100 million TL and floating rate bonds with 2 year is Ak Yatırım Menkul Değerler A.Ş. Successfully completed. We would like to thank all the investors who showed confidence and high interest in the demand for bond issue. KARDEMİR continues its journey of excellence with decisive steps. Turkey Quality Association (REMOVE) by 'Sustaining Excellence' held under the main theme and the largest management conference in the European area 24. Quality Excellence 4 Star Certificate was given to our company in Quality Congress. Our aim as Kardemir is to bring the 5 star to our company. KARDEMİR, with the determination to reach all of its goals, continues to walk confidently. In this sense, we would like to point out once again that we trust and trust Kardemir's employees at all levels. We are convinced that in this path we have come together, together and hand in hand, we will experience much more beautiful things, and the existing capabilities of Kardemir will contribute greatly to our goal of achieving perfection. Reducing costs in all of our processes, determining our areas that are open to improvement will be our priority. From an economic point of view, our review and improvement activities and measures that we will carry out hereafter will involve our efforts to bring down our costs and encourage productivity growth. KARDEMİR will always continue to be an organization that is innovative, world class production and service, who cares about investment in technology and our people, believes in team work, grows and produces. K
The Ordinary General Assembly was later closed to the press.