OYAK made an historical attempt in Turkish cement sector in line with the vision of sustainable growth and globalization by bringing the biggest foreign investment of 2018 to our country. Being one of the largest cement producers of the Far East, Taiwan Cement Corporation (TCC); and OYAK established a partnership with the goal of bringing their strengths together in the international cement market. In the result of this partnership, TCC acquired 40% of the shares of OYAK Çimento A.Ş. which were owned by OYAK at 100% with a price of 640 million dollars over a total price of 1.6 billion dollars. OYAK and TCC are aiming to enter new markets in the region and in the world through this cooperation.
Süleyman Savaş Erdem, General Manager of OYAK pointed out the following regarding the cooperation: “As an indicator of confidence that international markets have in our national economy, we expect that the cooperation established between OYAK and TCC will provide positive contribution to our growth goals in the international arena and also to the investment to be made both in cement and other fields of business in line with our national interests in the following period. OYAK will do on with its attempts with the goal of becoming a global brand. We trust in the future of our country and our economy and we continue our investments at full pace in line with this aim.” Nelson Chang, Chairman of Board of Directors of TCC pointed out in his statement that the market which is about to reach the saturation point in China would not satisfy the strategic expectations, therefore, they decided to assume an international initiative and they considered that establishing cooperation with OYAK, a strong organization in Turkey, which is a country has strategic importance to be a great opportunity. Indicating that this cooperation will be pioneering for TCC to open to markets other than Asia, Chang emphasized that they considered the strengths of OYAK as very important in order to enter the global market.