Limak Cement Group penetrates the African market
Limak Cement Group, a Turkey based Cement Company has issued an acquisition request for cement operations and supply in Africa.
The company has expressed its interest in some of the African countries such as Mozambique and Ivory Coast.
The company has already signed a confidential agreement for the US$1bn investment regarding the procurement of cement from the international cement company.
Gultekin Aksuyek, the group General Coordinator, confirmed the company’s presence and operations in more than one country in Africa presently and is still looking forward to selling its facilities in three African countries.
He lamented on their delayed decision to penetrate the African market.
The cement group also has other expansion plans for possible acquisition in a Latin American country.
Currently, Limak Cement Group has 10 cement factory plants in Turkey and intends to construct cement grinding and packaging facilities in Mozambique and Ivory Coast.
As part of the broader expansion plans by the group the facilities are expected to commence operation between 2016 and 2017.
The cement group is also expecting its sales volume to rise to 4% this year, an equivalent of 8.8 million tonnes.