OYSA NİGDE AND OYSA İSKENDERUN MERGED UNDER THE NAME OF OYSA ÇİMENTO SANAYİ VE TİCARET AŞ.

10.06.2003

Oysa Niğde Çimento and Oysa İskenderun Çimento companies that we purchased in 1992 within the scope of privatization, have merged under name of Oysa Çimento San. ve Tic. Aş. After 10 years of separate service, upon the resolution of General Assembly dated 29 May 2003.

With the merge that happened when Oysa Niğde acquired Oysa İskenderun, capacity of 1 million ton cement production a year has been reached.

Merge of cement factories have been announced in June 10th with a press conference to which Erhan Kamışlı, Chairman of Cement Group of Sabancı Holding, Celal Çağlar, Chairman of The Board of Directors Oyak Otomotiv and Cement Companies and Adil Erol, General Director of Oysa Çimento participated.

As a result of the merge which was performed to increase productiviy and to produce the strength needed to make necessary steps to grow, the capital of Oysa Çimento Sanayi ve Ticaret AŞ. increased to 3,3 trillion Turkish Liras. 46.09% of that capital is owned by Çimsa Çimento Sanayi, 46.09% is owned by Oyak and 7.82% is public.

In the speech he gave during press conference, Chairman of Cement Group of Sabancı Holding, Erhan Kamışlı said, “We have joined two separately working companies under one sole administration. Therefore decision making process will accelerate and operational profitability will increase”. With new common investments to be made, Kamışlı said that they intended to increase export to Middle East and European countries and added, “With this step, we believe that our company will attract foreign investors and its value in IMKB will rise”.

Celal Çağlar, who is the Chairman of the Board of Directors of Oyak Otomotiv and Cement Factories said that merge would lead to synergy and added “Our target is producing job at one, in right quality and with best price. Our year end turnover targfet is 50 million dollars.”