Turkish cement and clinker producer Bolu Cimento will transfer a ready-mixed concrete facility worth US$3.27m to a new company, it was reported on January 27, 2004. The concrete manufacturer and trader will be jointly set up by Bolu Cimento and affiliate companies. Bolu Cimento announced in October 2003 plans to establish the ready-mixed concrete company together with its parent company, army pension fund Oyak and affiliates Adana Cimento and Unye Cimento. Bolu Cimento, Adana Cimento and Unye Cimento will provide real estate as capital in kind and Oyak will participate with cash payment.
Bolu Cimento plans to produce 1.345Mt of cement and 1.15Mt of clinker in 2004. In 2004 the company is seeking to sell 1.345Mt of cement and 400,000t of clinker on the domestic market . Bolu Cimento has earmarked some US$2.59m for investments in 2004. The company has an annual capacity of 2.635Mt of cement and 1.32Mt of clinker.