Turkish steel producer Kocaer Çelik has announced the establishment of a wholly owned subsidiary, KCR Steel U.S. LLC, in Texas, as part of its strategy to expand operations and strengthen its presence in the U.S. market.
In July, the company had already announced its decision to set up a new holding company to carry out production, sales, and marketing activities in the U.S., aiming to enhance its global competitiveness.
KCR Steel U.S. LLC is now officially incorporated, with all equity held by Kocaer Çelik. The subsidiary will be responsible for production, sales, and marketing in the U.S. market, and is expected to reinforce Kocaer Çelik’s market position in the region.
According to a statement by the company submitted to the Public Disclosure Platform (KAP), this decision is to enhance global competitiveness.