Akcansa plans acquisitions

Akcansa plans acquisitions
Published: 01 February 2005

Mehmet Gocmen, general manager of Akcansa, said that the company planned acquisitions of cement companies in Iraq in the long run. However, the privatisation of the companies would not take place in the coming 1-2 years but at a later time, he noted when speaking to Anadolu News Agency. According Gocmen, due to instability in Iraq, only the companies, which are close to Iraq’s northern border make exports from Turkey viable. When the stability is restored in Iraq, exports to Iraq could also be made through the Suez Canal, which would lessen turkey’s competitivity.

Regarding the sale of the local Rumeli Group companies, he said that they could be interested in those companies, if the prices of those companies are within the range set by Akcansa. Acquisition of Rumeli cement companies is not a must for Akcansa, he noted. Both shareholders in Akcansa have growth strategy in cement sector, thus they are exploring M&A opportunities with regard to all companies in the sector. Gocmen also noted that they are looking for opportunities in the countries where Akcansa’s foreign shareholder Heidelbergcement has no investment yet. They are also seeking opportunities in the countries where Turkey is culturally close as in Central Asia.