OYAK

Taiwan Cement has acquired a 40% stake in Oyak Çimento from Oyak Holding for $640 million, and plans to form a joint venture in Turkey with Oyak Holding.

Taiwan Cement Group and Turkey's OYAK Group have formed a joint venture company JVC, with Taiwan Cement investing $1.1 billion for a 40% stake. The joint venture will acquire all 12 million metric tons of OYAK's cement production capacity in Turkey and jointly enter markets in the Middle East, Eastern Europe, and Africa.

Taiwan Cement will invest US$1.1 billion to create a joint venture with Turkey's OYAK in the Netherlands via a new subsidiary, Dutch TCC Holdings. Taiwan Cement will hold 40% and OYAK 60%.