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    Sabanci group snatches up two cement factories at $315.7 million

    Hürriyet Haber
    14.10.2005 - 13:31 | Son Güncelleme:

    The cement company Ladik has been purchased by the Sabanci Holding group, which offered the highest price in a tender yesterday. Akcansa, from the Sabanci group, won bidding with an offer of 140 million dollars. Of the four cement factories auctioned off by Rumeli Cement, two have now gone to the Sabanci Holding group.

    Along with its earlier purchase of Standart Cement, Sabanci Holding has now spent more than $300 million on cement factories. Akcansa revealed that it would be running the former Ladik cement factory, which is in the Black Sea region, along with its German partner, Heidelberg Cement, and that it planned to bring the factory up to a world quality level in a short time.
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