Limak considers bidding for Afyon Cimento, Turkey

Limak considers bidding for Afyon Cimento, Turkey
Published: 17 August 2011

Limak is considering bidding for fellow Turkish cement maker Afyon Cimento and the sale process could be completed in 2-3 months, Chairman Nihat Ozdemir said.

Ozdemir told reporters on Tuesday that Limak is planning to invest US$300m in cement over a three year period to increase total capacity to 8.5Mt.

Limak will increase the capacity of Ergani cement factory to 2Mt by investing US$100m. US$50m of this investment would be financed by equity capital and the rest by short-term financing, Ozdemir said.