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Five cement companies of OYAK merge: OYAK Cement becomes the largest in the cement sector

In line with its target to provide sustainable and high interest to its members, OYAK merged its 5 public companies Adana Çimento, Bolu Çimento, Aslan Çimento, Ünye Çimento and Mardin Çimento under “OYAK Çimento Fabrikaları A.Ş.”. “OYAK Cement” is the largest cement brand in Turkey.

OYAK, the largest occupational pension fund in Turkey, merged its five public cement companies under “OYAK Cement” brand in line with its domestic - overseas strategic plans and its targets in the cement sector. Adana Çimento, Bolu Çimento, Aslan Çimento, Ünye Çimento and Mardin Çimento started the merger negotiations in the last quarter of 2019 and as of May 15, 2020, they will continue their activities under the OYAK Cement brand.

Standing out with the value it created in the sectors it operates in, its ability to make use of savings opportunities and its strong balance sheet, OYAK aims to further increase the opportunities of Cement Concrete Paper Group’s access to the international financial markets with this important step it has taken.

OYAK General Manager Erdem: “We are setting a new horizon for the future of our group”

Making a comment on the matter, OYAK General Manager Süleyman Savaş Erdem said, “At OYAK, we are aware of the importance of being a leading player with global national production power in strategic sectors that steer the international financial markets. At this point, we are implementing the steps that will contribute to the goals of OYAK and our country one after another. With the merger of our five companies under one brand, we are setting a new horizon for the future of our group, and we are taking an important step towards our profitability and sustainable growth targets. I believe this development will provide benefit to OYAK and to the economy of our country, and I would like to state that we aim to contribute to the national economy together with our foreign partners while improving the savings of our members with the right moves.”

OYAK achieved several successes in the sector by establishing a partnership with the Taiwan Cement Company, one of the largest cement companies in the world, in 2018 and incorporation CIMPOR, one of the largest cement brands in Europe, in 2019. With this merger, OYAK has strengthened its leadership in the Turkish cement sector.