According to Taiwan News, Taiwan Cement Corp., one of the leading cement suppliers in Taiwan, said on Friday last week that it is in talks with Turkish conglomerate Sanko Holding S.A. for a possible strategic partnership.
Taiwan Cement said that the possible cooperation with Sanko is aimed at the growing cement market in Turkey and that if the partnership is set up, it will be the first opportunity for the Taiwanese manufacturer to create a springboard to the European market.
Sanko owns three cement plants, making it a medium-sized cement supplier in Turkey, Taiwan Cement said.
Taiwan Cement added that Sanko is among the top 500 enterprises in Turkey, with a workforce of over 14 000.
The company’s Chairman, Chang An-ping, is looking to make the firm an energy-efficient cement maker and boost the company's international visibility; extending its reach to the US and European markets could therefore help the company achieve this goal.
In addition to local cement plants located in Hualien, Heping and Su'ao, Taiwan Cement operates a broad production base in China, running a group of production sites in Guangdong, Guangxi, Jiangsu, Liaoning, Sichuan, Chongqing, Yunnan, Anhui and Fujian, according to the company's website.
With its population of 80 million, Turkey is seen by the company as having great growth potential in terms of domestic demand.
Taiwan Cement said it and Sanko have maintained close contact since the beginning of this year as the Turkish firm appears willing to join forces.
The exact form the partnership will take is still being negotiated.
Shares of Taiwan Cement rose 0.78% to close at NT$45.25 on the Taiwan Stock Exchange on Friday.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/27062018/taiwan-cement-in-talks-with-sanko-on-potential-partnership/