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News Taiwan Cement Corporation completes acquisition of Cimpor Portugal

Taiwan Cement Corporation completes acquisition of Cimpor Portugal

Written by Global Cement staff 07 March 2024
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Portugal: Taiwan Cement Corporation has purchased the remaining 60% stake of Cimpor Portugal from the Turkish group OYAK, giving it 100% ownership of the company. This acquisition, valued at €480m, also includes taking over a majority stake in Türkiye, making Taiwan Cement Corporation the ‘third largest player’ in the global cement market, according to the company. The deal strengthens the group’s presence in Portugal, Cape Verde, Ivory Coast, Cameroon and Ghana, aligning with its global expansion and sustainability-focused investments in renewable energy and technology.

Cimpor's chairman Suat Çalbiyik said "This operation represents a very important step in the company's growth and makes it a world reference in cement production."

Last modified on 13 March 2024
Published in Global Cement News
Tagged under
  • Taiwan Cement Corporation
  • Cimpor
  • Portugal
  • Acquisition
  • Türkiye
  • OYAK
  • GCW650

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