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  4. Reports suggest OYAK has purchased Denizli Cimento

Reports suggest OYAK has purchased Denizli Cimento

 

Published by
 World Cement,

The Irish Independent is reporting that CRH and Eren Holdings have sold their joint venture project, Denizli Cimento, to OYAK. OYAK is the largest cement producer in Turkey.

Last month, we reported that the JV partners had applied to Turkey’s competition regulator to sell the cement plant, which has a capacity of 2.5 million tpa. If true, the latest report would suggest that the acquisition was allowed and has gone through successfully. There are no statements on any of the parties’ websites.

CRH has been streamlining its portfolio of late, with a string of disposals and acquisitions that ‘provide focus to [its] future acquisition strategy to establish leading positions in markets that offer the most attractive future returns and growth in the cycle ahead’.

With a capacity of 17.5 million t, OYAK Cement has a 17% market share in Turkey.

Both CHR and OYAK have been named as potential buyers of assets resulting from the LafargeHolcim merger.


Edited from various sources by

Sources:

 

CRH reports third quarter sales growth of 3%

CRH saw strong operational leverage in its businesses in the quarter ended 30 September 2014, which underpinned improved margins and returns.

Denizli Cimento appears to have found a buyer

Reuters reports that joint venture partners CRH and Eren Holding have applied to Turkey’s competition authority for permission to sell their JV to the OYAK Group.