COMPANY NEWS
OYAK'S ENLARGED FOOTPRINT
On December 30, 2009 Turkey’s leading cement company,
Oyak (Ordu Yardýmlaþma Kurumu/Armed Forces Pension Fund) Cement Group, acquired the Lafarge Marmara Cement Group for e130.3m. The move increased the Turkish manufacturer’s production capacity by 24 per cent and raised its share of the domestic cement market to 18.4 per cent. The acquisition also completed Oyak Cement Group’s national footprint by providing the group with its first strategic base in the Marmaray region - an area which accounts for 30 per cent of the Turkish economy.
Oyak also gained 97.3 per cent of Aslan Cement from the Lafarge deal, as well as full ownership of Birtas Company, Marmara Madencilik, Aslan Beton, Assan AS and the Aslan Cement Foundation.
The Marmaray acquisition also fits well with the group’s current national strategy of each base playing a specific role depending on its location - an idea extended throughout its various cement plants. For instance, Adana and Bolu are both used as special-product making facilities, with Bolu Cement specialising in low heat cement - such as that used in the construction of the Marmaray tunnel - as well as G-type cement for oil well applications.
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