A FIRST IN THE HISTORY OF TURKISH CEMENT

OYAK has recorded an historic success in the cement industry by attracting the biggest foreign investment to our country in 2018 in line with its vision of sustainable growth and globalization.

OYAK attracts the biggest foreign investment of 2018

OYAK has recorded an historic success in the Turkish cement industry with its vision of sustainable growth and globalization by becoming partners with Taiwan Cement Company, one of the biggest cement producers in the Far East.

OYAK has recorded an historic success in the cement industry by attracting the biggest foreign investment to our country in 2018 in line with its vision of sustainable growth and globalization. Taiwan Cement Corporation (TCC), one of the biggest cement producers in the Far East and OYAK have established a partnership to combine their forces on the international cement market. As a result of this partnership, TCC purchased 40% of OYAK Çimento A.Ş.’s shares for USD 640 million. OYAK Çimento A.Ş. was formerly fully owned by OYAK and valued at a total of USD 1.6 billion. OYAK and TCC aim to enter new markets across the region and the world with this partnership.

General Manager of OYAK, Süleyman Savaş Erdem, stated the following with regards to this new collaboration: “We expect that the collaboration between OYAK and TCC, demonstrating the trust foreign markets now put in our national economy, will make a positive contribution to new investments by cement lines and other business lines in accordance with our international growth targets and our country’s interest in the long view. OYAK will continue to work towards achieving its target of becoming a world brand. We trust in the future of our country and our economy, and continue our investments at full speed ahead.”

TCC Chairman of the Board of Directors, Nelson Chang, stated that the Chinese market is almost saturated, no longer meeting his company’s expectations. Thus they have decided to enter international markets and see the collaboration with a strong company like OYAK in a strategically important country such as Turkey as a huge opportunity. Chang also stated that this collaboration is a leading step towards TCC’s globalization, and that the advantages offered by OYAK are very important for its entrance into the global market. Established in Taipei, Taiwan in 1946, TCC was privatized in 1954. The company also invests in the fields of energy and chemicals along with the tourism and health industries. TCC has a cement production capacity of 11 million tons in Taiwan and 65 million tons in China, and it recorded a revenue of USD 3.2 billion in 2017. With 23 factories in total, TCC is one of the biggest producers in China.

02.02.2021 23:11

A FIRST IN THE HISTORY OF TURKISH CEMENT

OYAK has recorded an historic success in the cement industry by attracting the biggest foreign investment to our country in 2018 in line with its vision of sustainable growth and globalization.

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