OYAK ERDEM‹R - ERDEMİR

Over the next few years, we expect the demand and supply to stay at a dynamic disequilibrium,
as the new steelmaking capacities both in Turkey and around the world to come on stream.
In parallel, it is our primary objective that the overall cost competitiveness of Erdemir Group
shall be asserted, while dynamic sales and raw material procurement practices shall continue
to be implemented. Our marketing activities shall be singularly based upon cherishing long
term relations with our core customers while progressively expanding our customer portfolio.
In order to achieve these objectives, OYAK has initiated a Strategic Restructuring Program
immediately upon acquiring Erdemir Group in 2006. As part of this program, most of the
shared services of group companies have been consolidated by now. With that, we aim to
increase our business process effectiveness, better serve our customers and further improve
our profitability. As we plan our future, we will not only strive to better foresee the horizon
in order to continue on our path to become an even more powerful company, but we will
also take action keeping in mind that “the institutions of the future” will be those that manage
to shape and impact what the future holds.
I hope to share the pride and happiness of our Group’s continued accomplishments in the
coming years, which were crowned in 2007 with strong financial and operational performance.
I thank to all our shareholders, employees, customers and suppliers being major contributors
to our success.
Sincerely Yours,
Coflkun ULUSOY, Ph.D.
Chairman of the Board
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