Assan Alüminyum plans to launch a facility in the US with an investment of $460 million
The world's leading manufacturer of flat-rolled aluminium (FRP), Assan Alüminyum, a subsidiary of Kibar Holding, intends to open a facility in the United States with an investment of $460 million. According to Ali Kibar, the projected factory's annual production capacity would be 120,000 tonnes.
The company's primary aim is to satisfy American businesses' demand that adheres to the "Made in USA" standard. According to him, Assan Alüminyon is also looking at the potential in Africa's mineral- and energy-rich regions.
“Our strategy is to grow in Europe and the U.S., while also strengthening our presence in the Asia Pacific region,” said Ali Kibar, chairman of Kibar Holding executive board.
In terms of turnover, the group increased by 30 per cent in the first half of 2022, according to Kibar. According to Haluk Kayabaş, CEO of Kibar Holding, Assan Alüminyum has increased its production capacity to 360,000 tonnes, making it one of the top two producers in Europe.
He said that the aluminium firm will invest $80 million to develop a recycling factory next year, with exports making up 75 per cent of its revenues. Ali Kibar stated that the company aimed for annual growth of between 3 and 7 per cent and mentioned that last year's revenues were $4.6 billion.
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