Recently, the board of directors of Taiwan Cement approved the authorization to promote the layout of Ukrainian cement with no more than 750 million euros. Ukraine's IFCEM is the second largest cement company in the country. In the first half of the year, Zhang Anping, chairman of Taiwan Cement, led the European and Asian cement teams to visit Ukraine's IFCEM plant. This authorization is regarded as an important step for Taiwan Cement to deepen its European market layout.
Taini (1101) held an interim board meeting on September 22, 2026, and authorized the Dutch subsidiary of the group to TCC Group EMEA Holdings B. V. Acquisition of Ivano ‑ Frankivskcement (hereinafter referred to as IFCEM), Ivano ‑ Frankivsk ‑ Dakh, KRU Gips, a gypsum products company, and KRU Mix, a dry-mixed mortar company, have 100% equity.
Morgan Stanley was appointed as the financial advisor for the valuation, and international legal, financial accounting, tax and environmental consultants conducted due diligence to examine the risks of sanctions, labor, operations and foreign exchange controls. The actual transaction amount will be adjusted based on items such as net debt and net working capital upon closing. The transaction is subject to the approval of the competent authority. Taiwan Cement retains the flexibility to introduce international financial institutions as co-investors, and Supranational Funds have already expressed their willingness to invest. The acquisition target of Taiwan Cement will be directly under the Dutch Holding Company of Taiwan Cement, not under Cimpor International, which is expected to be listed in Europe. In the first half of the year, Zhang Anping, Chairman of
Taiwan Cement, led the European and Asian cement teams to visit the IFCEM plant in Ukraine. IFCEM is the second largest cement company in Ukraine, with a market share of about 36%. In addition to IFCEM and its subsidiaries, the scope of this acquisition also includes Ivano ‑ Frankivsk ‑ Dakh, KRU Gips and KRU Mix. The products cover cement, ready-mixed concrete, aggregate, roof building materials, gypsum board and dry-mixed mortar.
IFCEM's production base is located in Ivano ‑ Frankivsk, western Ukraine, approximately 760 km from the southeastern war zone. After the outbreak of the war in 2022, the company started the manpower preparation and scheduling mechanism, and the factory maintained continuous production and sales without interruption. The plant has been equipped with 50 MW solar and 19 MW gas power generation equipment, which can reduce the dependence on the external grid.
IFCEM has continued to invest in carbon reduction in recent years. The EU Carbon Border Adjustment Mechanism (CBAM) has entered the formal implementation stage since 2026. Cement exported to the EU needs to bear the corresponding carbon emission costs, and the carbon emission intensity of products will directly affect the export competitiveness. If the acquisition is subsequently completed, Taiwan Cement will introduce the Group's experience in low-carbon R & D and production into IFCEM. IFCEM has a sales network for neighboring Eastern European countries, with Poland and Romania as the main export markets, as well as Moldova, Slovakia and Hungary. The acquisition of Taiwan Cement not only extends the European cement territory from Southern Europe and Western Europe to Eastern Europe, but also completes the key strategic jigsaw puzzle of Taiwan Cement in the European market, relying on low-carbon technology to help Europe rebuild after the war and realize the vision of global sustainable layout.
The Ukrainian government, the World Bank, the European Union and the United Nations issued the fifth Rapid Damage and Needs Assessment (RDNA5) in February 2026. Ukraine's reconstruction and rehabilitation needs in the next decade are about 588 billion US dollars, nearly three times the country's nominal GDP in 2025. Among them, housing, transportation and energy are the most severely damaged sectors. According to the data of Ukrainian Cement Association, the consumption of cement in Ukraine was about 10.6 million tons in 2021 before the war, and declined to about 4.5 million tons in 2022. In recent years, it has stabilized to about 6.2 million tons and 6.5 million tons per year.
浙公网安备33010802003254号