Turkish Cimentas Wins Lalapasa Cimento tender with high bid

Turkish Cimentas Wins Lalapasa Cimento tender with high bid
Published: 11 October 2005

Turkish cement producer Cimentas reportedly won the sell-off tender of cement factory Lalapasa Cimento offering the highest bid of $166.5m it was reported on October 10, 2005.   Cimentas competed for the factory with Set Cimento, Tracia, Uni Cimento and Akcansa. 

Lalapasa Cimento was offered for sale at a starting price of $61m by the Turkish Saving Deposits Insurance Fund (TMSF), a fund that manages banks taken into receivership by the state. Lalapasa Cimento was seized from Turkish Uzan Group in February 2004.  The factory, set up in 1991, in 1996 became part of local cement producer Rumeli Group, previously owned by Uzan family. The factory occupies an area of 571,313 sq m near Edirne, western Turkey. It has an annual capacity of 577,500t of clinker and 1,161,600t of cement.