HeidelbergCement to hold off investments in Turkey for now

Akcansa Cimento Sanayi ve Ticaret AS

16/03/2017 13:45

HEIDELBERG, March 16 (Reuters) - German cement maker 
HeidelbergCement  HEIG.DE  will hold off from making investments 
in Turkey for the moment given political uncertainty in the 
country, its chief executive said on Thursday. 
    Foreign investor sentiment towards Turkey has been hit by 
widening security concerns and fears of growing 
authoritarianism.  
    "There could be opportunities for deals in Turkey at 
reasonable prices," Bernd Scheifele told reporters at a news 
conference following the company's annual results. But he also 
said there was a risk that any such deals might not be the 
bargains they seemed given the political uncertainty. 
 urn:newsml:reuters.com:*:nL5N1GT0OY 
    Scheifele said he was concerned about the situation in 
Turkey, which he said was not good for economic development in 
the country. 
    HeidelbergCement has a joint venture with Sabanci Holding 
 SAHOL.IS  in Turkey, cement and ready-mixed concrete maker 
Akcansa  AKCNS.IS . 
 
 (Reporting by Sabine Wollrab; Writing by Maria Sheahan. Editing 
by Jane Merriman) 
 ((maria.sheahan@thomsonreuters.com; +49 69 7565 1286; Reuters 
Messaging: maria.sheahan.thomsonreuters.com@reuters.net)) 
 
Keywords: HEIDELBGCEMENT RESULTS/TURKEY