Turkey’s Sonmez Holding will stay in cement business

Turkish conglomerate Sonmez Holding is reported to be looking to achieve growth through cement production. The conglomerate recently sold its cement subsidiary Sancim Bilecik Cimento to 4282 Cimsa, part of 1907 Sabanci Holding, for €163.48 million. However, Sonmez Holding is said to be aiming to stay in the cement business with a new plant to be launched next month [August 2014]. Based in Adana Yumurtalik Free Zone, the new plant and will cost €184.8 million. It will mainly produce for export markets with 2 million tonnes of cement capacity and 1.7 million tonnes of clinker capacity. Sonmez Holding targets 1.2 million tonnes/year of cement exports to generate 10% of Turkey's total annual cement exports and €62.83 million in exports revenue.