Cement News tagged under: Sabanci

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Turkey: Sabanci Holding announce investment funds

27 February 2017, Published under Cement News

Turkish conglomerate Sabanci Holding has plans to make TRY4.5bn worth (US$1.25bn) of investments in 2017, the group's CEO said. The holding has plans to invest the funds in Turkey throughout 2017, up TRY0.4bn (US$110m) or 10 per cent from last year, Zafer Kurtul said at a Sabancı group annual briefing meeting where last year’s financials were announced. Mr Kurtul said nearly 80 per cent of this amount would be channelled into expanding production capacity while the remainder would be set ...

Sabanci net profit up 7.6% in 2015

01 March 2016, Published under Cement News

Turkish conglomerate Sabanci Holding posted a net profit of TRL2.236bn (US$750m) in 2015, up 7.6 per cent from a year earlier, it said in a filing to the Istanbul stock exchange on Monday. The holding's sales rose 10 per cent to TRL30bn in the same period. The company further said it is looking to hold an initial public offering of its energy company and a secondary float of shares in its retail unit. The timing of the offerings is still uncertain due to market conditions, CEO, Zafer Kurtu...

Sabanci Holding posts 54% rise in first-quarter profit, Turkey

14 May 2015, Published under Cement News

Sabanci Holding, whose business units include Turkish cement producers Akcansa and Cimsa, on Monday posted a 54 per cent rise in its first-quarter profit to TRL648.5m (US$241m). Revenue amounted to TRL2.48bn in the period, less than the TRL2.54bn in the same period last year, according to a filing with the stock exchange.

Sabanci cement unit seeks acquisition opportunities

25 March 2015, Published under Cement News

Turkey-based Sabanci Holding's cement business expects its sales to rise 10-15 per cent this year after posting a 16 per cent increase to TRL2.5bn (US$980m) in 2014, the cement unit's chief executive said. Sabanci's cement arm is also looking for acquisition opportunities and could borrow up to US$1.5bn to fund an acquisition, Hakan Gurdal told Reuters in an interview.

Sabanci Holding eyes LafargeHolcim assets

24 September 2014, Published under Cement News

Turkish conglomerate Sabanci Holding plans to bid for some of the assets Lafarge and Holcim must sell to receive approval from competition watchdogs ahead of its planned merger, a source with knowledge of the deal told Reuters. Sabanci is aiming for growth through acquisitions and said in March that it plans to spend TRL1-1.5bn (US$448-672m) on such investments. "Preparations are being made for a bid in December," the source said, adding that Sabanci is interested mainly in European busine...

Sabanci Holdings on the cement acquisition trail, Turkey

23 January 2013, Published under Cement News

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 Turk...