Iron and Steel
The iron and steel industry is one of the leading industries in Turkey which contributes considerable amount to both the gross national product and production input of the manufacturing sector, as well as having a positive impact on export, employment and the macroeconomic equilibrium. Primarily in the construction and automotive sectors, followed by piping, industry, durable consumer goods, fuel equipment manufacturing, agricultural equipment manufacturing and the shipbuilding industry; it has incredible strategic importance with the income it provides.
Turkey holds tenth place in the world’s iron and steel manufacturing, and third in Europe. The employment created by this industry is approximately 43,000 people. Iron and steel production is carried out via integrated facilities, electric-arc furnaces and rolling plants, but primarily integrated facilities.
On the other hand;
- Environmental investments and contribution margins that have increased due to environmental awareness,
- The dependency on outside sources in terms of raw materials and energy for production,
- Limitations applied to the industry by the European Coal and Steel Committee concerning investment incentives,
- Fluctuation of raw material and steel prices
are all issues specific to the iron and steel sector that we are consistently facing.
The industry aims at manufacturing with a higher contribution margin and in more environmentally friendly methods in the future. For this reason, R&D projects carry significant importance for the iron and steel industry. Most R&D projects in this industry are focusing on the reduction of energy consumption and carbon emission.
Thanks to our successful collaboration with leading firms in the industry, we have gained invaluable experience in the iron and steel industry. As BDO, we continue to hold our leading position in consultancy services in the iron and steel industry.