Portugal Cimpor Stepping in Turkey, China Seen in Q1 2007
Cimpor is expected to complete its entrance on Chinese and Turkish markets in the first quarter 2007, according to local press reports.
The company has already signed binding contracts for acquisitions of stakes in these countries, awaiting the approval of the regulatory authorities there.
In October 2006, the Portuguese company expressed its intention to acquire 60 pct of Chinese sector company Lew Liuyuan for some EUR2.1m (US$2.7m), and a few months later, in December 2006, announced the purchase for EUR535m (US$707.3m) of Ybitas Lafarge Orta Anadolu Cimento Sanayi ve Ticaret (YLOAC), Turkey’s fifth biggest cement company by sales.
Published under Cement News
