Oyak Cement Group, has completed the acquisition of Lafarge Marmara Group for €130.3m. The acquisition, agreed in April last year, puts Oyak in control of 97.3 per cent of Aslan Cement, 100 per cent of the Birtas Company and Marmara Madencilik, 24.4 per cent of Aslan Beton, and 100 per cent of Assan AS and the Aslan Cement Foundation.
Oyak Cement Group is Turkey’s largest cement company and part of Oyak Group, Turkey’s largest pension fund and leading private equity investor. The company already owns Adana Cement, Bolu Cement, Mardin Cement and Unye Cement. And control of Aslan Cement provides Oyak with a plant in the highly industrialised Marmara region, for the first time.
“Despite the contraction [due to the global crisis,] the Marmara region still represents 30 per cent of Turkey’s economy and has the capacity to develop more in the future,” says Oyak Cement Group’s chairman of the board, Celal Cağlar.
Oyak Cement Group’s market share has grown by 25 per cent, and its capacity by 24 per cent as a result of this transaction. Aslan Cement has a daily capacity of 10,000t.