Turkish Oyak to cut output

Ordu Yardımlaşma Kurumu, the Turkish army pension fund known as Oyak, expects cement output and sales to fall 10 per cent next year, business daily Referans said Friday, citing Celal Çağlar, head of Oyak’s cement and auto division. Oyak’s three publicly traded cement units are Ünye Çimento, Bolu Çimento, Adana Çimento and Mardin Çimento.