Taiwan Cement Corporation (TCC) is set to continue its “global expansion strategy” after the acquisition of Portugal´s Cimpor.
“The purchase of Cimpor by Taiwan Cement Corporation (TCC) from the Oyak group has been completed. With this deal TCC now owns 100% of Cimpor Portugal Holdings”, the group said in a statement.
The investment, “in a Portuguese brand operating in Portugal, Cabo Verde, Ivory Coast, Cameroon and Ghana, allows TCC to continue to invest in various sectors in the field of sustainability, including renewable energies and technologies, while continuing its global expansion strategy”, according to the statement.
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“This operation represents a very important step in the company’s growth and makes it a world reference in cement production. We believe that the knowledge of the TCC allows us to consolidate and invest more and more in our path to decarbonization of the sector, a goal that Cimpor has committed to meet by 2050,” said Suat Çalbıyık, Chairman (Chairman) of CIMPOR, quoted in the statement.
“Cimpor is a large company with extensive knowledge of the cement industry,” said Nelson Chang, Chairman of the TCC Board of Directors.
“TCC recognizes a substantial growth potential in Cimpor, in the development of a comprehensive decarbonization strategy,” he emphasized, indicating that the company is confident “that Cimpor is an investment” that will allow “expand and increase” the operations “of low-carbon cement”.
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According to the statement, “the management structure of Cimpor, in addition to Suat Çalbıyık and Nelson Chang, will also have Roman Cheng, Eralp Tunçsoy and Todd Yang”.
In the same note, the company explained that “the decision of TCC was influenced by the excellent production capacity of Cimpor, as well as by its human resources and extensive knowledge in engineering”, ensuring that “members will continue to play a key role in the company’s growth both in the Portuguese and international market”.
As part of this deal, “TCC also obtains most of the cement operations in Turkey, becoming the third largest ‘player’ in the global cement market,” he further assured.
