The Italian group CEMENTIR took control of the Turkish company CIMENTAS (turnover of USD 123.6 million in 2000) to the value of 58% of the ordinary capital for USD 121.3 million. At the same time, the Italian company bought 68.3% of the preferred stock from the Turkish company for USD 16.2 million. Following these operations, CEMENTIR will launch a takeover bid for the remainder of the CIMENTAS capital. In case of 100% success in this offer, CEMENTIR will have to pay a total amount of USD 232.4 million. With this takeover, CEMENTIR will increase by around 60% its production capacity, rising from 3.8 to 6.15 million de tonnes of cement per year.