Taiwan Cement Backs Ukraine’s Recovery With IFCEM Investment
Taiwan Cement Corporation is set to become a strategic investor in PJSC Ivano-Frankivskcement, Ukraine's leading cement producer, through a transaction with the Swiss majority owner CemInWest and the owners of three related companies. The deal, whose value was not disclosed, still needs antitrust and regulatory approvals.
Taiwan Cement Corporation (TCC), a leading global cement producer, has announced its intention to invest a substantial sum of €750 million ($857 million) in PJSC Ivano-Frankivskcement (IFCEM), Ukraine's top cement manufacturer. This investment, the first of its kind for a global industrial group in a Ukrainian manufacturing entity during a time of war, aims to support Ukraine's reconstruction efforts where cement and concrete are crucial for future infrastructure projects.
The transaction, to be executed between the owners of IFCEM and TCC Group EMEA Holdings B.V., the Dutch subsidiary of TCC Group Holdings Co., Ltd., will grant TCC a 100% stake in the Ukrainian business, valued at €750 million.
IFCEM, which operates 40 production sites with a combined cement capacity of 112 million tonnes (113 million US tons) per year, will see its stake in the Ukrainian business transitioned to TCC. The transaction is subject to antitrust clearance and other regulatory approvals in the relevant jurisdictions, along with customary closing conditions.
IFCEM, with a history spanning over 70 years, employs approximately 2,500 people and produces cement, concrete, reinforced-concrete products, fiber-cement roofing, façade materials, dry building mixes, and gypsum plasterboard under various brand names.
Written by urgent.news from Kyiv Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
