Sabancı cement group has eyes on regional growth

Sabancı cement group has eyes on regional growth

Sabancı cement group looks to be a regional player by growing through acquisitions, the head of the holding’s cement arm has said, noting the group has the capacity of investing around 1 to 1.5 billion Turkish Liras in the sector.

Speaking during a meeting with reporters on the night of March 20, Sabancı Holding Cement Group head Mehmet Göçmen also said the group has managed to raise its turn over by 15 percent and aims to keep this growth ratio this year as well.

Sabancı’s cement arm includes Akçansa, a joint venture of Sabancı Holding and Heidelberg Cement, and holding’s subsidiary ÇİMSA.

“We want to be one of the regional powers,” Göçmen said, stressing the group is one of the few global players in the sector that has purchasing power.

“We are looking to geography that will create synergy with our current position. We are looking at the Middle East, Black Sea and Mediterranean basins that cover Spain, Italy and North Africa,” he said.

Göçmen was confident of the financial power of the group to sustain that growth as well.

“When we look at our financial tables we have the capacity of investing between 1 to 1.5 billion liras without the need for additional capital. This is the account power of ÇİMSA and Akçansa,” he stated.