OYAK Acquired The Portuguese Cement Giant Cimpor

Continuing its investments with the vision for sustainable growth and becoming a global brand, OYAK acquired the Portugal and Cape Verde operations of Cimpor, one of the longest-established cement brands of Europe.

Related to the new investment, OYAK General Manager Süleyman Savaş Erdem said: “Turkey needs a global actor in each sector. Accordingly, we have achieved the biggest success of the Turkish cement sector in the recent years and acquired Cimpor, one of the most respected brands of the sector in Europe. We, as OYAK, have trust in our country and our strong future. The favor and courtesy of our foreign partners is one of the most important indicators of this. We will continue with our investments in Turkey and in the world in line with our growth strategies, and will continue to take the steps, which we consider as an opportunity, in Turkey and in the world to provide a sustainable benefit to our members.”

OYAK, Turkey's largest professional pension fund, acquired the Portugal and Cape Verde operations of Cimpor, one of the biggest cement brands of Europe. Leader of the Portuguese market with its first factory established in 1894, Cimpor has a cement production capacity of approximately 6,5 million tons. Cimpor has 3 integrated cement plants, 2 cement mills, 15 quarries, 43 concrete plants, two mortar plants and one packing facility located in Portugal, as well as two quarries, three concrete plants an done port facility with silo and bagging machine located in Cape Verde.