Taiwan Cement to invest US$1.1bn in new joint venture

Taiwan Cement announced it will spend US$1.1bn to create a joint venture with Turkey’s OYAK in The Netherlands, via a newly-created subsidiary, Dutch TCC Holdings. Taiwan Cement will hold 40 per cent of shares in the joint venture with OYAK holding 60 per cent.

Through the JV, Taiwan Cement aims to increase its visibility in the European market at a time when the Chinese market is cooling.