Çimsa Transferred to Fernas for TRY 2 Billion

Sabancı subsidiary Çimsa transferred its Kayseri and Niğde Plants and Ankara Grinding Facility to Fernas Şirketler Grubu for EUR 110 million, equivalent to TRY 2 billion. Çimsa, the global brand of Sabancı Holding, completed an asset sale to Fernas Şirketler Grubu. Following the asset sale decision approved by the Competition Authority last week, the transfer of Çimsa's Kayseri and Niğde Plants and Ankara Grinding Facility to Fernas Şirketler Grubu has been finalized. The Niğde Integrated Cement Plant, Kayseri Integrated Cement Plant and Ankara Cement Grinding Facility were sold for a total consideration of EUR 110 million under an agreement signed on 15 June 2022. With the sale of assets representing 3% of total assets and 9% of revenue in Çimsa's financial statements, the company will realize approximately TRY 1.7 billion in pre-tax gains. Commenting on the completion of the transfer, Çimsa Chief Executive Officer Umut Zenar stated: "We continue to take steps that will enable Çimsa to focus on high-value-added and sustainable business areas. Through our strategic steps and the sale we have recently completed, we have made a significant contribution to our future vision. As a result of this work conducted with meticulous care, we continue to create value for all our stakeholders. With the proceeds from the asset sale, we will focus on higher value-added and sustainable areas. We will use the resources generated from the sale to implement our previously announced investments, evaluate potential strategic growth opportunities, finance our sustainability investments and reduce our debt." Umut Zenar noted that as a global player in the sector, they will continue to lead the industry and take steps that contribute to people, the environment and our country in the future.       About Çimsa Çimsa, a subsidiary of Sabancı Holding, was founded in Mersin in 1972. Today Çimsa operates production activities through 3 integrated plants located in Mersin, Eskişehir and Afyonkarahisar. One of the world's leading brands in white cement, Çimsa conducts its international operations through Cimsa Sabanci Cement BV, which combines its operational capabilities with the financial strength of its principal shareholder Sabancı Holding. Through its market-oriented approach and extensive distribution network, Çimsa fully and promptly meets its customers' product and service requirements. As a trusted business partner to its stakeholders, it provides the necessary materials for living spaces and infrastructure extending to future generations. In addition to grey cement, Çimsa leads innovation in Turkey's cement and building materials sector with its specialty products such as white cement and calcium aluminate cement. Çimsa creates value for all stakeholders and pursues profitable growth, which it aims to sustain in the future.