Turkish industrial group Sabanci Holdings is reportedly on the acquisition trail both at home and abroad as it seeks to double its capacity in five years.
The group is currently active in the Turkish market through Akcansa (which is a joint venture with HeidelbergCement) and Cimsa with a combined domestic cement capacity of 13Mta.
Speaking to Bloomberg, Mehmet Gocmen, head of Sabanci’s cement group said the company is planning growth through deals in Turkey and nearby countries as Turkish regulation bans a single company from controlling more than 25 per cent of the domestic market.
“We are looking into countries within two hours of flying distance from Istanbul,” Gocmen said. “Our financial position is strong enough to make more than one acquisition at a time, for Akcansa and Cimsa separately,” he said. Sabanci plans to double capacity or at least make it above 20Mta in five years, Gocmen added.