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HeidelbergCement to hold off making investments in Turkey

Published by
World Cement,


Reuters has reported that the chief executive of HeidelbergCement has said that the company will hold off from making investments in Turkey, due to the political uncertainty in the country.

Foreign investor sentiment towards Turkey has been affected by widening security concerns and fears of growing authoritarianism.

"There could be opportunities for deals in Turkey at reasonable prices," Bernd Scheifele told reporters at a news conference following the company's annual results. But he also said there was a risk that any such deals might not be the bargains they seemed given the political uncertainty.

Scheifele said he was concerned about the situation in Turkey, which he said was not good for economic development in the country.

HeidelbergCement has a joint venture with Sabanci Holding in Turkey, cement and ready-mixed concrete maker Akcansa.

Read the article online at: https://www.worldcement.com/europe-cis/17032017/heidelbergcement-to-hold-off-making-investments-in-turkey/

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