Sabanci interested in Uzan plants

Sabanci interested in Uzan plants
Published: 06 October 2004

Turkish industrial conglomerate Sabanci Holding is interested in the cement factories of the controversial Uzan family in Lalapasa, Eskisehir, Sanliurfa, Ergani and Gaziantep, the holding’s cement group chairman Erhan Kamisli said on October 4, 2004.  The holding will not bid for the other cement plants in Van, Trabzon and Bartin, Kamisli said.  The Uzan family’s cement factories, estimated at a value of $400m, were taken over by the Turkish Savings and Deposits Insurance Fund (TMSF), which holds insolvent banks in receivership.  Some 45 companies are ready to take part in the tenders for the factories. Foreign cement companies, which do not have investments in Turkey, are also expected to bid for the plants, Kamisli said.  Ten plants of the Uzan family account for 11.7 per cent of Turkey’s total cement capacity. The sales of the factories will probably be carried out in March or June 2005, Kamisli added.