YILDIRIM GROUP ACQUIRES ALBANIA’S LARGEST CHROME COMPANY ALBCHROMENews / Recent News / Detail January 20, 2022
YILDIRIM Group of Companies, a global industrial conglomerate based in Turkey, acquired 100% shares of Albchrome Holding sh.p.k., the largest chrome and ferrochrome company in Albania. The sales and purchase agreement was signed in September 2021, and the handover and closing processes were finalized on 14 January 2022.
Albchrome Holding sh.p.k. is an Albanian company that owns high grade chrome ore mines in Bulqiza Mine and Vllahen Mining, and the ferrochrome smelting plants in Burrel and Elbasan. Albchrome is the largest chrome ore and high carbon ferrochrome producer in Albania. The company has the capacity to produce 72,000 tons of high carbon ferrochrome annually, and owns more than 2 million tons of high grade chrome ore reserves. Founded in 1991 as a state company, Albchrome has one of the largest licenses to Europe’s chromium deposits, and exports ferrochrome to more than 50 countries. The chrome ore mine in Bulqiza has 38-44% grade chrome ore, and 2 ferrochrome plants in Burrel and Elbasan have a total of 4 production furnaces.
Albchrome will be part of Yilmaden Holding, YILDIRIM Group’s metals and mining subsidiary, which is ranked as the 2nd largest high quality high carbon ferrochrome producer, and the 4th largest chromium company in the World. YILDIRIM already owns and operates chrome mines, and ferrochrome production plants in Turkey, Russia, Sweden, and Kazakhstan. With the addition of Albchrome to YILDIRIM’s assets, the company has reached nearly 650,000 tons of annual ferrochrome production capacity, and become the one and only company to produce high carbon ferrochrome in 4 countries globally.
After the acquisition of AlbChrome, YILDIRIM will further strengthen its global position in the chromium industry, and continue its steady growth and consolidation strategy. YILDIRIM is committed to upgrade the company by transferring its technology and know-how, continuing investments to grow the capacity, and improve global sales of Albchrome.
Being a leading Turkish industrial group, YILDIRIM has been focusing on metals and mining, port management, fertilizers and chemicals, green energy, construction and infrastructure, and private equity financing, with more than 16,000 employees in 53 countries on 5 continents.