September 21, 2022
NewCo Ferronikeli’s shares and ownership transferred from BALFIN Group to YILDIRIM Group

BALFIN Group has officially transferred all its shares and ownership of NewCo Ferronikeli to YILDIRIM Group.

The two Groups reached an agreement early in June 2022 and during these months have had a close collaboration for guaranteeing a smooth handover that will not impact employees and production.

YILDIRIM has a solid business plan to expand and grow its metals and mining business. Therefore, YILDIRIM is looking forward to making NewCo Ferronikeli into one of the best nickel companies in Europe and one of YILDIRIM’s most valuable subsidiaries.

NewCo Ferronikeli became part of BALFIN Group in July 2018, while in a state of suspended activity with liabilities, as well as unpaid salaries of employees. BALFIN Group intervened to improve the financial situation and began implementing a program of investments worth 30 million euros, that increased production efficiency. 

NewCo Ferronikeli is one of the largest producers of ferronickel in Europe. The company is a strategic asset to the Republic of Kosovo, of great importance and with significant impact on the macroeconomy. Established in 1984, NewCo Ferronikeli complex includes a two-line nickel production plant and potentially rich mineral deposits beneath the surrounding landscape.

With this acquisition, YILMADEN Holding consolidates YILDIRIM Group’s investments in the metals and mining sector. The company is the 4th biggest player in the global chrome business, the seconds largest producer of high carbon ferrochrome (HC FeCr), and a leading player in the high-quality chrome ore mining segment. They also own metallurgical coke production facilities in Colombia, a ferrovanadium and ferromolybdenum metallurgical plant in the USA, and open pit and underground coal projects in Colombia. YILMADEN employs a workforce of over 6,500 employees and is present in 8 countries: Turkey, Kosovo, Sweden, Kazakhstan, Russia, Albania, Colombia, and the USA. YILMADEN exports its products to customers in more than 80 countries via more than 20 well-located distribution centers across the world.

Headquartered in Istanbul, Turkey, YILDIRIM Group is one of the fastest-growing European industrial and infrastructure groups. They are a well-diversified global industrial group, which is active in 9 sectors globally: mainly in metals & mining, port operations & management, fertilizers & chemicals, energy, shipping & logistics, financial investments & private equity, etc. YILDIRIM operates in 54 countries on 5 continents in the sectors mentioned above with more than 20,000 employees.