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Image: Çimsa
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Çimsa, one of the important subsidiaries of Sabancı Holding, has signed a contract to acquire Ireland-based cement producer Mannok in an important move within the framework of its international growth strategy in the white cement sector.
In the statement made by Çimsa, it was stated that the price determined for the acquisition of Mannok is EUR 330 million. This acquisition draws attention as part of Çimsa's growth strategy, which aims to increase its foreign currency-based revenues to 70 per cent and gain a stronger position in foreign markets.
Within the scope of the acquisition agreement, Çimsa will acquire 94.7 per cent of Ireland-based Holdings DAC. This step is considered as a result of the company's efforts to increase its competitiveness in the international arena and expand its effectiveness in global markets. Mannok has an extensive sales and distribution network in Ireland and the UK, which stands out as an important advantage that will strengthen Çimsa's position in the European market.
Mannok's sales revenues for the last 12 months totalled EUR 294 million. This is expected to make a significant contribution to Çimsa's current operations and help it achieve its growth targets. The acquisition of Mannok is considered a strategic investment for Çimsa to consolidate its leadership in the international market and support its future growth targets. With this acquisition, Çimsa aims to become a stronger player in the international arena and plans to further consolidate its position in the sector.
