Displaying items by tag: Türkiye
Italcementi exits Turkey
16 February 2012Turkey: Italcementi has announced that it has reached an agreement to sell 51% of its Afyon Turkish unit to Cimsa Cimento Sanayi ve Ticaret AS for Euro25m. The stake and the payment will be done at the closing of the operation, which has to be cleared by antitrust authorities. With the closing of this deal, and following the 2011 divestment of Set Group, Italcementi will be left without any presence on the Turkish market as a cement producer.
Ciments Français pushes to keep Euro50m payment from Sibtsem
13 January 2012Russia: Ciments Français has gone to court to keep a Euro50m advance payment from OAO Sibtsem Holding for Turkish cement assets that the latter company did not acquire.
Ciments Français filed a suit with the Russian supreme arbitration court on 20 December 2011 to recognise the ruling of the Istanbul arbitration court as of 7 December 2010. Under this ruling the French company does not have to return the advance payment to Siberian Cement for the acquisition of Turkish Set Group, which has four cement plants with a capacity 5Mt/yr. On 26 December 2011 the court accepted the suit for consideration.
In March 2008 Sibtsement announced that it would acquire Set Group from Ciments Français, having paid Euro377m and about 5% of its shares, estimated at Euro200m. The first instalment stood at Euro50m. However, the world financial crisis prevented the companies from closing the deal. In the autumn of 2008 the parties began discussing payment for the deal by instalments but they failed to reach an agreement.
In the summer of 2010 the arbitration court of the Kemerovo region in Russia confirmed that Ciments Français had to return the advance payment as the agreement was null and void. In early 2011 the Kemerovo court refused to confirm the Istanbul court ruling.
Oyak expects solid Turkish recovery
23 November 2011Tukey: Oyak Cement Group has posted a net profit of Euro73m and a sales revenues of Euro336m in the first nine months of 2011. The group said that domestic cement demand increased by 12% your-on-year in the first half of 2011 and Oyak has reiterated its expectation that domestic cement sales would increase by 8% year-on-year in 2011 as a whole.
The group's Mardin Çimento recorded an earnings before interest, tax, depreciation and amortisation margin of 38.7%, a net income margin of 31.4%, and return on capital of 21.1% over the first nine months. This performance was the strongest of the 15 cement companies listed on the Istanbul Stock Exchange.
Adana Çimento to expand capacity
30 August 2011Turkey: Cement producer Adana Çimento, an Oyak Group company, says it plans to invest USD80m in a clinker production facility in the city of Iskenderun. With this investment the annual clinker production capacity of Adana Çimento will increase to 3.3Mt/yr from 2.3Mt/yr. The new facility is expected to be completed and come online by 2013.
KHD wins contract with KCS
17 August 2011Turkey: Kahramanmaras Cimento Beton Sanayii Ve Madencilik Isletmeleri (KCS) has awarded KHD Humboldt Wedag the contract to supply equipment for its second cement production line with a capacity of 4500t/day clinker near the city of Kahramanmaras in southeastern Turkey. Commissioning of both the new kiln line and the clinker grinding system is planned for the end of 2012.
Signing with KHD Humboldt Wedag for delivering clinker production line I in May 2006 allowed KIPAS Holding to enter the cement industry via the subsidiary to meet the requirements for entering the Turkish cement industry as a producer. The scope of KHD´s delivery and services includes the engineering and delivery of mechanical and electrical equipment as well as advisory supervision of erection and commissioning (including training) for the new kiln line and for the clinker grinding system. Its capacity will increase from 100t/hr to 200t/hr at a fineness of 3600cm2/g.
For its second line, KCS has chosen to install a KHD combustion chamber, with which coarse secondary fuels and/or secondary fuels associated with difficult ignition and combustion can be used. The new technology should lower the quality requirements for the alternative fuels as well as preparation requirements. This will be the second KHD combustion chamber in Turkey, following the first installation in a cement plant near Ankara. The increase in clinker capacity with the new kiln line accompanied a decision by KCS to increase the output of the existing cement mill, a ball mill of Chinese design with a throughput capacity of 100t/hr CEM I 42.5.
France/Italy/Turkey: French cement maker Ciments Français has said that it will sell its 51% stake in Turkish Afyon Çimento Sanayi TAS. The French company, part of the Italcementi group, has mandated Mediobanca to be its financial adviser in assessing and carrying out the potential sale of its stake.
In February 2011 Ciments Français started divesting assets in Turkey with the sale of Set Group Holding to diversified Turkish group Limak Holding. After the latest strategic move in Turkey, Mediobanca does not rule out that Italcementi may leave markets on which it has minor presence, such as China, Kazakhstan and Saudi Arabia.