Continuing its investments in sustainable growth and with its vision of becoming a world-renowned brand, OYAK has acquired the Portugal and Cape Verde operations of Cimpor, one of the oldest and most deeply rooted brands in Europe.

Turkey’s largest occupational pension fund, OYAK has acquired the Portugal and Cape Verde operations of Cimpor, one of the biggest cement companies in Europe. The market leader in Portugal, Cimpor built its first factory in 1984 and has a cement production capacity of approximately 6.5 million tons. Cimpor has three integrated cement factories, two grinding plants, a bagging plant and marine terminal in Cape Verde, 42 ready-mixed concrete plants, 15 aggregate plants, and one lime, one paper bag production, two mortar, and one traverse factory.

General Manager of OYAK, Süleyman Savaş Erdem, stated the following with regards to this new investment:

“Turkey needs global players in every industry. With this in mind, we have achieved the greatest success seen in the Turkish cement industry in recent years by acquiring Cimpor, one of the European cement industry’s most highly-reputed brands. At OYAK, we trust in our country and our strong future. The kindness of our international partners is the most important indicator of this trust. We will continue making investments in our country and across the world in line with our growth strategies, and we will continue taking steps that we see as an opportunity nationally and internationally for the sustainable growth of our members.”

02.02.2021 23:11

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