Taipei, Taiwan Cement Corp., one of the leading cement suppliers in Taiwan, said Friday that it is in talks with Turkish conglomerate Sanko Holding S.A. for a possible strategic partnership.
Taiwan Cement said that the possible cooperation with Sanko is aimed at the growing cement market in Turkey and that if the partnership is set up, it will be the first time for the Taiwanese manufacturer to build a springboard to the European market.
According to Taiwan Cement, Sanko owns a wide range of businesses, including cement, textiles, energy, plastic packaging, construction machinery, information technology, securities and finance, and real estate.
Sanko owns three cement plants, making it a medium-sized cement supplier in Turkey, Taiwan Cement said.
Taiwan Cement added that Sanko is among the top 500 enterprises in Turkey, with a workforce of more than 14,000.
Taiwan Cement said that company Chairman Chang An-ping (???) is interested in efforts to transform the firm into an energy-efficient cement maker and to boost the company's international visibility, so extending its reach to the U.S. and European markets could help the company achieve this goal.
In addition to local cement plants located in Hualien, Heping and Su'ao, Taiwan Cement operates a broad production base in China, running a group of production sites in Guangdong, Guangxi, Jiangsu, Liaoning, Sichuan, Chongqing, Yunnan, Anhui and Fujian, according to the company's website.
After careful evaluation, Taiwan Cement said, Turkey, with a population of 80 million, has great growth potential in terms of domestic demand and is worthy of investment by the Taiwanese firm.
Taiwan Cement said it and Sanko have maintained close contact since the beginning of this year as the Turkish firm appears willing to join forces.
As for what form the partnership will take, Taiwan Cement said this is still being negotiated.
Shares of Taiwan Cement rose 0.78 percent to close at NT$45.25 on the Taiwan Stock Exchange Friday.
Source: Focus Taiwan News Channel