Cementir Holdings (Cementir Holding NV) announced recently that it has completed the sale of its entire stake in Kars Cimento AS (Kars) to the Arkoz Madencilik AS. The total value of the enterprise is 51 million euros ( $59.37 million), which is delivered in cash without debt. This move marks a key step in Cementir Group's strategy to optimize its regional layout. Kars, which
was sold, operates an integrated cement plant in northeastern Turkey with an annual output of 600,000 tons of grey cement. According to 2024 earnings data, the company achieved GAAP revenue of about 26.9 million euros, GAAP EBITDA of about 3.9 million euros, and currently has about 90 employees. Although small in size, the divestiture allows Cementir to focus its resources more on its core markets.
This divestment is highly consistent with Cementir Group's long-term strategy of focusing on high-growth regions. The Group currently operates in a vertically integrated mode mainly in the western and central regions of Turkey, covering cement, ready-mixed concrete and aggregates businesses. By divesting Kars assets in the northeast, Cementir can further strengthen its competitive advantage in strategic areas and improve overall operational efficiency. Cementir Chairman and CEO Francesco Caltagirone Jr made it clear that the deal reflects the company's commitment to strengthening its competitive position and cultivating key markets.
On the whole, the 51 million euro transaction is not only a simple asset disposal, but also a tactical adjustment of Cementir's initiative to optimize its portfolio. Under the background of accelerated integration of Turkey's building materials market, concentrating resources on the western and central high-potential regions will help the Group consolidate its vertical integration advantages and cope with the increasingly fierce market competition. With the completion of the transaction, Cementir's shift in strategic focus will provide a stronger foundation for its long-term growth and profitability.
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