Italian cement firm Cementir has won approval from Turkey’s antitrust authority for its acquisition of firm Edirne in a US$166.5m deal, it said in a statement on Wednesday. Cementir already controls Turkish cement firm Cimentas, and said the acquisition would boost Cimentas’ capacity to 4Mta.
Several Italian cement firms have moved into booming construction markets such as Egypt and Turkey, escaping sluggish growth in Western Europe . However, Italy ’s biggest cement group Italcementi , which controls Egypt ’s Asec Cement and Suez Cement , pulled out of a series of auctions for Turkish cement groups because they were too expensive.
