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Taiwan Cement Plans US$850 Million Ukraine Expansion

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Taiwan’s largest cement company is looking to position itself for Ukraine’s expected post-war rebuilding. Taiwan Cement has authorized more than US$850 million to acquire Ukraine’s second-largest building materials company. The Ukrainian firm operates across central and eastern Europe and saw its revenue grow more than 20% last year. The move comes as Ukrainian President Volodymyr Zelenskyy called for an end to the war with Russia at the UN General Assembly. Taiwan Cement is one of the world’s largest companies in the cement industry and a major supplier to Europe. The acquisition still requires approval from regulators before it can proceed.

Taiwan Cement's Ukraine Expansion

REPORTER:
Taiwan’s largest cement company is looking to position itself to benefit from Ukraine’s expected post-war rebuilding.

Taiwan Cement has authorized over 850 million US dollars to buy Ukraine’s second-largest building materials company. The Ukrainian firm has business across central and eastern Europe and saw its revenues grow over 20% last year. The move comes as Ukrainian President Volodymyr Zelenskyy called for an end to the war with Russia at the UN General Assembly. Taiwan Cement is one of the world’s largest firms in its industry, and a major supplier to Europe. The purchase still needs approval from regulators.

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Taiwan Cement's Ukraine Expansion

REPORTER:
Taiwan Cement is looking to buy Ukraine's second largest cement company – subject to regulator approval – in a move positioning it to benefit from the region's expected post-war recovery.

878 million US dollars is the amount Taiwan Cement, or TCC, has authorized to buy Ivano-Frankivskcement's building materials and roofing activities. The Ukrainian company supplies not only Ukraine, but also Central and Eastern Europe, and it saw revenue increase over 20% last year. Taiwan Cement said its chairman Nelson Chang visited Ukraine earlier this year. Taiwan Cement ranked sixth for global capacity last year and is a major supplier in Europe through its plants in Portugal and Cameroon. It reported $4.8 billion US dollars in revenue.