In line with the target of providing sustainable growth to its members, OYAK has merged five public companies, namely Adana Cement, Bolu Cement, Aslan Cement, Ünye Cement, and Mardin Cement, under the same roof, now named “OYAK Çimento Fabrikaları A.Ş.”

Turkey’s largest occupational pension fund OYAK has gathered its five public cement companies under the single roof of “OYAK Cement” in line with the Turkish “national–international” strategic plans and its targets in the cement industry. Adana Cement, Bolu Cement, Aslan Cement, Ünye Cement, and Mardin Cement started merger negotiations during the last quarter of 2019 and will continue their activities with heightened strength under the OYAK Cement brand as of May 15, 2020.

Having come into prominence with the value created in the industries in which it operates, and its savings plans and strong balance structure, with this radical step OYAK aims to gain more opportunities to position the Cement Concrete Paper Group within international finance markets.

“We have set sail for new horizons for the future of our Group,” says OYAK General Manager Süleyman Savaş Erdem.

Speaking on the matter OYAK General Manager Süleyman Savaş Erdem said the following; “At OYAK, we are aware of the importance of being a leading player in strategical industries that direct the international finance markets with a national production capacity. At this point, we are introducing new developments, which, one by one, will contribute to OYAK and country targets. By merging five companies under one umbrella, we are setting sail for new horizons for the future of our group and taking an important step towards our profitability and sustainable growth targets. I strongly believe that this development will really work to the benefit of OYAK and our national economy, and I want to state that we aim to contribute to our national economy with our international partners by making the right moves to provide our members with added value.”

OYAK has many success stories in the industry including its partnership in 2018 with Taiwan Cement Company, one of the biggest cement companies in the world, and the incorporation of CIMPOR, one of Europe’s biggest cement brands, in 2019. With this merger OYAK has reinforced its leading position in Turkey’s cement industry.

02.02.2021 23:11

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