SynopsisYukselen Celik, a prominent Turkish specialty steel producer, is making strategic moves to enter the German market after successfully entering the US market. The company aims to expand its presence in the European market, increase export revenues, and establish a European sales office named Rising Stahl GmbH in Düsseldorf, Germany. This expansion is part of Yukselen Celik's efforts to enhance its international profile and boost exports, particularly in North Rhine-Westphalia.ArticleYukselen Celik, a renowned Turkish specialty steel manufacturer, is set to embark on a new phase of expansion by entering the German market. This strategic move comes on the heels of the company's successful entry into the US market. The primary objective behind this expansion is to broaden its export activities within the European market.In a recent bourse filing, Yukselen Celik outlined its ambitions to not only increase its visibility in international markets but also to augment its export revenue and the share of exports in its overall sales. To realize this vision, the company has taken the significant step of establishing a fully-owned subsidiary named Rising Stahl GmbH in Düsseldorf, Germany.Rising Stahl GmbH will initially function as a European sales office and will incorporate warehouse and storage facilities to accommodate product inventory. The company has also left open the possibility of establishing a steel service center or metal processing plant in the future. With its base in Düsseldorf, Yukselen Celik aims to market its products not only in Germany but also across various EU countries, with a particular focus on the North Rhine-Westphalia region.The establishment procedures for Rising Stahl GmbH are on track to be completed by the end of 2023, with operations scheduled to commence in the first half of 2024 at the latest. This expansion is expected to have a positive impact on Yukselen Celik's export and transit trade activities, particularly in the latter half of 2024.This strategic move follows Yukselen Celik's establishment of a wholly-owned subsidiary named Rising Steel Inc. in Chicago in 2022. The goal was to boost the share of exports in total sales revenue, which had been relatively modest. As of the end of 2022, the company had already increased the share of exports in revenue by approximately 6.5%, thanks to the contributions of the export office opened in Istanbul and the subsidiary in the USA. This share continued to grow, reaching over 15% in the first half of 2023.ConclusionYukselen Celik's strategic expansion into the German market represents a significant step forward in its mission to enhance its global presence and increase export revenues. With the establishment of Rising Stahl GmbH in Düsseldorf, the company is poised to tap into the European market, particularly focusing on the North Rhine-Westphalia region. This move underscores Yukselen Celik's commitment to strengthening its position as a leading player in the international steel industry.
SynopsisYukselen Celik, a prominent Turkish specialty steel producer, is making strategic moves to enter the German market after successfully entering the US market. The company aims to expand its presence in the European market, increase export revenues, and establish a European sales office named Rising Stahl GmbH in Düsseldorf, Germany. This expansion is part of Yukselen Celik's efforts to enhance its international profile and boost exports, particularly in North Rhine-Westphalia.ArticleYukselen Celik, a renowned Turkish specialty steel manufacturer, is set to embark on a new phase of expansion by entering the German market. This strategic move comes on the heels of the company's successful entry into the US market. The primary objective behind this expansion is to broaden its export activities within the European market.In a recent bourse filing, Yukselen Celik outlined its ambitions to not only increase its visibility in international markets but also to augment its export revenue and the share of exports in its overall sales. To realize this vision, the company has taken the significant step of establishing a fully-owned subsidiary named Rising Stahl GmbH in Düsseldorf, Germany.Rising Stahl GmbH will initially function as a European sales office and will incorporate warehouse and storage facilities to accommodate product inventory. The company has also left open the possibility of establishing a steel service center or metal processing plant in the future. With its base in Düsseldorf, Yukselen Celik aims to market its products not only in Germany but also across various EU countries, with a particular focus on the North Rhine-Westphalia region.The establishment procedures for Rising Stahl GmbH are on track to be completed by the end of 2023, with operations scheduled to commence in the first half of 2024 at the latest. This expansion is expected to have a positive impact on Yukselen Celik's export and transit trade activities, particularly in the latter half of 2024.This strategic move follows Yukselen Celik's establishment of a wholly-owned subsidiary named Rising Steel Inc. in Chicago in 2022. The goal was to boost the share of exports in total sales revenue, which had been relatively modest. As of the end of 2022, the company had already increased the share of exports in revenue by approximately 6.5%, thanks to the contributions of the export office opened in Istanbul and the subsidiary in the USA. This share continued to grow, reaching over 15% in the first half of 2023.ConclusionYukselen Celik's strategic expansion into the German market represents a significant step forward in its mission to enhance its global presence and increase export revenues. With the establishment of Rising Stahl GmbH in Düsseldorf, the company is poised to tap into the European market, particularly focusing on the North Rhine-Westphalia region. This move underscores Yukselen Celik's commitment to strengthening its position as a leading player in the international steel industry.
