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MarketScreener Homepage  >  Equities  >  TAIWAN STOCK EXCHANGE  >  Taiwan Cement Corp    1101   TW0001101004

TAIWAN CEMENT CORP

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Taiwan Cement : expanding overseas in partnership with Turkish company

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03/12/2019 | 05:36am EST

Taiwan Cement Corp. has teamed up with the Turkish conglomerate Oyka to extend its reach into overseas markets, according to the Taiwan company`s chairman Chang An-ping ().

In a recent interview, Chang said his company is hoping to penetrate markets in Portugal, North Africa and Central Asia through its partnership with Oyka.

Last October, Taiwan Cement and Oyak reached a deal to set up a joint venture, with the former investing US$1.1 billion for a 40 percent stake.

Under the agreement, Taiwan Cement will tap into Oyak`s production capacity in Turkey in a bid to enter African, Middle Eastern and European markets.

Oyak recently acquired a cement plant in Portugal that has an annual production capacity of 5 million tons of cement, which, according to market analysts, will give Taiwan Cement access to the Portuguese market.

Through its subsidiaries, Oyak has cement production facilities across Turkey in areas such as Bolu, Unye, Mardin, Adana and Denizli, which produce about 12 million tons of cement a year, according to Taiwan Cement.

At an investor conference late last year, Chang said Taiwan Cement`s partnership with Oyak would go beyond the cement business and that the two companies were looking at Central and West Asia, East and South Europe and North Africa.

On Monday, shares of Taiwan Cement lost 0.39 percent to close at NT$37.85.00 (US$1.22) on the local main board, where the weighted index ended up 0.08 percent at 10,250.28 points.

(c) 2019 Arab Times Kuwait English Daily. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (TWD)
Sales 2019 122 B
EBIT 2019 29 454 M
Net income 2019 23 619 M
Debt 2019 42 399 M
Yield 2019 7,36%
P/E ratio 2019 9,69x
P/E ratio 2020 10,2x
EV / Sales2019 2,26x
EV / Sales2020 2,18x
Capitalization 235 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 10
Average target price 48,70  TWD
Last Close Price 43,00  TWD
Spread / Highest target 27,9%
Spread / Average Target 13,3%
Spread / Lowest Target 4,65%
EPS Revisions
Managers
NameTitle
Chung Pei Li General Manager & Director
An Ping Chang Chairman
Chun Yan Yue Director
Nan Chou Lin Director
Po Yuan Wang Director
Sector and Competitors