Taiwan Cement Corporation (TCC Group) plans to acquire 100% of the shares of Ukrainian cement producer Ivano-Frankivskcement (IFCEM), the company’s press service reported.
“The partnership will combine IFCEM’s leading position in the Ukrainian market, its modern production facilities, long-standing industrial traditions and strong team with TCC’s global expertise, technologies and investment capabilities. It will create a foundation for the group’s further development and its active participation in Ukraine’s large-scale reconstruction and deeper economic integration with Europe,” Ivano-Frankivskcement said in a statement on its website.
The transaction will be concluded between Ivano-Frankivskcement’s majority shareholder CemInWest S.A. (Switzerland), together with the owners of affiliated companies Ivano-Frankivskdakh LLC, Krugips LLC and Krumix LLC, and TCC Group EMEA Holdings B.V. (Netherlands), a subsidiary of TCC Group Holdings Co., Ltd.
Completion of the transaction is subject to obtaining the necessary antitrust approvals and other regulatory clearances in the relevant jurisdictions, as well as the fulfilment of customary closing conditions.
Mykola Kruts, chairman of the management board and a member of Ivano-Frankivskcement’s supervisory board, said he would remain on the company’s board of directors for the next several years.
“Today, the company is entering a new stage of its development. The partnership with a global strategic investor from Taiwan opens up new opportunities for IFCEM in terms of investment, technological development and the further strengthening of its position. I will remain a member of the board of directors for the next several years to help ensure continuity, stability and the company’s further development,” the company quoted Kruts as saying.
The preliminary value of the transaction is approximately €750 million.
About IFCEM
IFCEM and its related companies are leading Ukrainian manufacturers of building materials. IFCEM has an annual cement production capacity of 4.3 million tonnes, and the Group employs approximately 2,500 people. The Group produces cement under the IFCEM brand, concrete and reinforced concrete products under the KRUBETON brand, fiber-cement roofing under the FIBRODAH brand, façade materials under the AEROPANEL brand, dry building mixes under the KRUMIX brand, and gypsum plasterboard under the KRU GIPS brand.
About TCC Group
TCC Group Holdings Co., Ltd. is a global industrial group from Taiwan with a history spanning more than 70 years and is one of the world’s largest cement producers. The Group has more than 40 production sites, aggregate cement production capacity exceeding 112 million tonnes per year, and approximately 13,800 employees. TCC is also active in green energy, energy storage systems and advanced materials. TCC has a strong presence in Europe and Africa, including in Portugal, Türkiye, Spain, the UK, the Netherlands, France and Italy.
