In line with the decision taken at the Extraordinary General Assembly Meeting of OYAK Cement Factories Inc., OYAK Denizli Cement Joint Stock Company, which was taken over with all its assets and liabilities, merged with OYAK Cement Factories Inc.
According to the OYAK Cement statement, OYAK Cement, which combined its public companies under the umbrella of OYAK Cement Factories Inc. on May 14, 2020, merged with OYAK Concrete Industry and Trade Inc. on December 31, 2020. As of December 28, 2023, OYAK merged with Denizli Cement Inc. and gathered all cement and concrete operations under one roof.
Unlike the merger of public companies in May 2020, the transaction in question took place with the merger of a public company and a company that does not have publicly traded shares.
After the merger, the equity capital of OYAK Cement Factories Inc. increased by ₺86 million 784 thousand 965, from ₺1 billion 159 million 793 thousand 441 to ₺1 billion 246 million 578 thousand 406.
With the merger, OYAK Cement, the capacity and market leader of the Turkish cement industry, which makes sales in seven geographical regions with seven integrated factories, two grinding facilities and 52 concrete plants spread all over the country, is the first cement company in Turkiye to make the “Net-Zero” commitment.
While the company has made serious investments in the last five years to reduce energy costs, take waste feeding systems to advanced levels, build waste heat recovery facilities and install more environmentally friendly units, it has also significantly increased the rate of alternative fuel use.
Source: Patronlardunyasi / Prepared by Irem Yildiz