Limak considers bidding for Afyon Cimento, Turkey

Limak considers bidding for Afyon Cimento, Turkey
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.
Published under Cement News