Anatolia’s top steel company Tosyali plans $500M acquisition in Europe
A view of Tosyali Holding's steel production facility in Iskenderun, Hatay, Türkiye. (AA Photo)
One of Türkiye’s leading companies in the steel sector, Tosyali Holding‘s Chairman of the Board of Directors Fuat Tosyali, stated that the company is planning $500 million factory acquisition in Europe, following its investment in Spain in 2024.
Speaking to business-focused Bloomberg HT at the World Economic Forum’s (WEF) 2025 summit in Davos, Switzerland, the chairman stated that their production capacity in steel has advanced to a point where making new investments to reach the end consumer has become necessary.
The steelmaker’s chairman announced that they are in talks for a new strategic acquisition in Europe, which could represent a significant investment of approximately $500 million, though further details were not provided.
Tosyali Holding acquired the Baika Steel Tubular System steel tube factory in Spain in January 2024, aiming to meet the growing demand alongside the expanding new hydrogen distribution networks in Europe.
Tosyali’s investments in Africa, aim to double TOGG production
Highlighting their investments in Africa such countries Algeria, Senegal, and Angola over the past 30 years, the chairman said that the company is also planning to invest in Libya.
Noting that they closed last year with a revenue of $7 billion, Tosyali stated, “We are the strongest steel producer in the Mediterranean region,” adding that they are steadily moving closer to their goal of becoming one of the world’s top 20 steel producers.
Meanwhile, as the chairman of TOGG, Türkiye’s very first domestic electric vehicle manufacturer, Tosyali mentioned that after taking the helm, they decided to accelerate production, stating, “This year, we will double our production compared to last year.”
Anatolia’s largest company
Founded in 1988, Tosyali Holding is one of Türkiye’s prominent companies in the steel industry sector, the largest company in Anatolia.
Tosyali Holding’s subsidiary Toscelik topped the Turkish business magazine Ekonomist’s “Anadolu 500” list, which is a ranking of businesses headquartered outside Türkiye’s major cities—Istanbul, Ankara, and Izmir—based on their 2023 revenue, with $1.57 billion revenue.
