Displaying items by tag: Sabancı Holding
Turkey: Sabanci Holding and HeidelbergCement joint subsidiary Akçansa achieved an undisclosed Turkish record figure for nine-month cement exports over the period ending 30 September 2019. The exports included 1Mt of clinker. Akçansa general manager Umat Zenar said, “We achieved a 46% increase in our port capacity utilisation rate,” in attributing the growth to its logistics advantage over competitors and effective port management.
Turkey: Sales from Sabancı Holding’s cement businesses fell by 5% year-on-year to Euro132m in the first half of 2019 from Euro139m in the same period in 2018. Its cost of goods sold grew by 7% during the same period. It made a net loss of Euro1.35m compared to a net profit of Euro23.3m previously. Overall, the group’s sales rose by 24% to Euro1.48bn but its profit fell by 17% to Euro577m.
Spain: Turkey’s Çimsa Çimento has purchased Cemex’s white cement business in Spain, including its Buñol plant, for around US$180m. Cemex expects to sign the final agreement in April 2019 and close this divestment during the second half of 2019. The proposed divestment does not include Cemex’s white cement business in Mexico, nor its interest in Lehigh Cement in the US.
“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%, translating into Çimsa becoming the world's largest white cement company,” said Tamer Saka, the president of Sabancı Holding Cement Group and chairman of Çimsa. He added that Çimsa is among Turkey’s leading exporters. In 2018 it generated over 50% of its operational profit from overseas operations.
Once a final agreement is reached the transaction is subject to standard regulatory approval.
Akçansa’s sales rise by 13% to Euro285m in 2018
27 February 2019Turkey: Akçansa’s sales revenue grew by 13% year-on-year to Euro285m in 2018 from Euro252m in 2017. Its net profit increased by 21% to Euro29.8m from Euro24.7m. The joint venture between Sabancı Holding and Germany’s HeidelbergCement attributed its sales growth to continued efforts to protect its domestic market against competition and its growth overseas. Umut Zenar, Akçansa General Manager, said that the company started exporting products from Ambarlı Port in 2018. The cement producer aims to double its exports during 2019.
Mehmet Göçmen appointed new head of Sabancı Holding
08 March 2017Turkey: Mehmet Göçmen has been appointed as the new chief executive officer of Sabancı Holding, the owner of several Turkish cement companies including Çimsa and Akçansa. He replaces Zafer Kurtul, who will vacate his position from 30 March 2017. Göçmen currently serves as Sabancı Holding Energy Group Head.
Göçmen graduated from the Department of Industrial Engineering at the Middle East Technical University in 1981. He also holds an MS degree from the Department of Industrial Engineering at Syracuse University in the US. He worked in executive positions between 1983 and 1995 at Steel Wire & Rope Industry, at Lafarge between 1996 and 2003 and he was appointed as General Manager of Akçansa in 2003. He has served as Human Resources Group Head, Cement Group Head and Energy Group Head at Sabancı Holding since 2008.
HeidelbergCement appoints three new management board members
21 October 2015Germany: HeidelbergCement has appointed three new Managers to its board with effect from 1 February 2016.
A new executive position will be created for the African / Eastern Mediterranean region. Hakan Gurdal from Turkish Sabancı Holding, previously responsible for the Turkish company's jointly-operated business with HeidelbergCement, will step into this new role. Jon Morrish will head HeidelbergCement's North American business. The third newcomer is Kevin Gluskie, who will lead the HeidelbergCement's business operations in the Asia-Pacific region.
Cement firm sales set to surge 10 - 15%
25 March 2015Turkey: Sabancı Holding expects its cement business sales to rise by 10 – 15% in 2015 and is looking for acquisition opportunities, according to its chief executive Hakan Gurdal. Sabancı's cement group, which consists of Akçansa and Çimsa, posted a 16% increase in sales to US$980m in 2014.
"We are chasing opportunities for growth abroad. The financial structures of Akçansa and Çimsa are getting stronger, creating serious potential. We currently have the ability to borrow up to US$1.5bn to fund an acquisition," said Gurdal.
Sabancı Holding has long been interested in acquisitions, but has not bought any companies. Gurdal explained that this was due to geopolitical risks in the countries bordering Turkey. Gurdal added that the group had an investment target of US$117 – 129m, most of which would be invested in a plant in the Aegean province of Afyon. The plant is expected to start producing in May 2016.