Albanian Balfin concludes the sale of Albchrome to the Turkish group Yildirim
TIRANA (Albania), Jan 21 (SeeNews) – Albanian investment group Balfin has announced that it has completed the sale of chrome producer AlbChrome to Turkish industrial conglomerate Yildirim Group for an undisclosed price.
The transaction, which was completed on January 14, will not affect AlbChrome employees as Yildirim has agreed to keep the workforce unchanged and continue Balfin’s investment strategy, Balfin said in a statement earlier. this week.
AlbChrome, a member of the Balfin group since 2013, has a mine in Bulqiza, ferrochrome smelters in Burrel and Elbasan, and Vllahen Mining. It is one of the main exporters from Albania.
AlbChrome increased its ferrochrome production to 68,000 tons from 24,000 tons in 2012 and raised chrome ore production from 47,800 tons in 2012 to 100,800 tons in 2020, according to the release.
Yildirim Group operates in nine sectors and 53 countries on four continents, employing 14,000 people.
The Balfin Group is active in a number of sectors, including real estate, retail, tourism, agriculture, energy, minerals and services throughout South East Europe, as well as in Austria and the Netherlands, according to information published on its website.
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