ISTANBUL, March 21, 2019 /PRNewswire/ -- Çimsa, a
subsidiary of Sabancı Holding, is becoming the global leader in
white cement. Mexican company CEMEX, one of the world's leading
cement producers, has agreed to sign a 'binding agreement' for the
sale of its Buñol White Cement Plant in Valencia (Spain) to Çimsa for US$180 million. The sale is expected to be
completed in the second half of 2019. Following this acquisition,
Çimsa, which is already the prominent European white cement player,
capacity wise, will become a global leader.
Sabancı Holding CEO Mehmet Göçmen
commented that, "As Sabancı, we are proud to become a world leader
with our new investment in the cement sector, an industry in which
we have been operating for nearly 50 years. Being present in new
geographies, as part of the strategic roadmap we previously defined
as 'Sabancı of New Generation', is a key priority for us. This
investment, which brings our leadership role in Turkey to the international arena, is a very
significant milestone when it comes to managing our portfolio in a
more balanced and dynamic way. We are targeting global leadership
positions by responding to the world's new developments and setting
new industry operational benchmarks. With this approach, similar to
what we have achieved with Composites in our Industry strategic
business unit, we are now taking our cement business to the next
level. We see it as our responsibility to create value not only for
Sabancı Group, but also for our country. Beyond mere financial
considerations, we will leverage our technical expertise to further
contribute to the growth of the cement sector in Turkey. We will continue monitoring new
opportunities to further enhance, in the short- to medium-terms,
our global leadership".
The most technologically advanced white cement plant in
Europe
Noting that the Buñol White Cement Plant is the most
technologically advanced white cement plant in Europe, Tamer Saka, the President of Sabancı
Holding Cement Group and Chairman of Çimsa, also said: "With its
expertise in white cement, special products and wide distribution
network, Çimsa is among Turkey's
leading exporters. At Çimsa, in 2018, we have generated over 50
percent of our operational profit from our overseas operations.
With the purchase of the Buñol White Cement Plant in Spain, we are upgrading our game in the white
cement sector, the highest value-added business in the global
cement market. With the integration of the Buñol White Cement Plant
to our production and distribution networks, we will increase our
white cement production capacity by 40 percent, translating into
Çimsa becoming the world's largest white cement company."
The transaction will be completed upon securing customary
authorisations from regulators.
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