Cementir Holding N.V. announces that two subsidiaries (Çimentaş A.Ş and Alfacem S.r.l.) have entered into a binding agreement with Arkoz Madencilik A.Ş to divest 100% of the share capital of Kars Cimento AS (“Kars”).
Kars owns an integrated cement plant in Northeastern Türkiye, with an annual grey cement production capacity of 0.6 million tons.

The transaction has an enterprise value of EUR 51 million on a cash and debt-free basis. Completion is expected by the end of this year, subject to regulatory approvals and customary terms and conditions.
In 2024, Kars generated GAAP revenue of circa EUR 26.9 million and GAAP EBITDA of around EUR 3.9 million. The company currently employs approximately 90 people.

This divestment is aligned with Cementir Group strategy to optimize its geographic footprint and focus its strategic presence in Western and Central Türkiye, where the Group operates a vertically integrated model across cement, ready-mixed concrete, and aggregates.

“This divestment is part of our commitment to enhancing our operational efficiency and strengthening our competitive positioning by focusing on high-growth regions”, commented Francesco Caltagirone Jr., Cementir Chairman and CEO.