Taiwan Cement Backs Ukraine’s Recovery With IFCEM Investment

Taiwan Cement Corporation (TCC), one of the world’s largest cement producers, is set to become a strategic investor in PJSC Ivano-Frankivskcement (IFCEM), Ukraine’s leading cement manufacturer. The deal marks a rare example of a global industrial group investing in a Ukrainian manufacturing asset while the country remains at war. The IFCEM deal brings one of the global cement industry’s heavyweights directly into Ukraine’s reconstruction effort, where cement and concrete will play a central role in future infrastructure projects.JOIN US ON TELEGRAMFollow our coverage of the war on the @Kyivpost_official. The transaction will be carried out between the owners of the Ukrainian group and TCC Group EMEA Holdings B.V., the Netherlands-based subsidiary of TCC Group Holdings Co., Ltd., according to an IFCEM statement published on Wednesday. On the sellers’ side are CemInWest S.A., a Swiss company and IFCEM’s majority shareholder, along with the owners of three affiliated companies: Ivano-Frankivskdakh LLC, Krugips LLC, and Krumix LLC. TCC will receive a 100% stake in the businesses which is valued at €750 million ($857 million), Focus Taiwan reported, citing press conference comments made by TCC Group Holdings Vice President Shelly Yeh. Completion of the transaction remains subject to antitrust clearance and other regulatory approvals in the relevant jurisdictions, as well as customary closing conditions, the company said. Other Topics of Interest Russian Attack Cuts Kyiv Internet, Delays Trains Two internet providers reported outages after data centers were damaged, while Russian strikes caused major rail delays across Ukraine. IFCEM has an annual cement production capacity of 4.3 million tonnes (4.7 million US tons) and, together with its affiliated companies, employs about 2,500 people, according to their website. However, the group produces not only cement under the IFCEM brand, but also concrete and reinforced-concrete products under KRUBETON, fiber-cement roofing under FIBRODAH, façade materials under AEROPANEL, dry building mixes under KRUMIX, and gypsum plasterboard under KRU GIPS TCC, with a history of more than 70 years, operates more than 40 production sites with an aggregate cement capacity exceeding 112 million tonnes (113 million US tons) per year and employs about 13,800 people, according to the release. IFCEM’s capacity is equivalent to roughly 4% of TCC’s. The Taiwanese group is also active in green energy, energy storage systems, and advanced materials. The group maintains operations across Europe and Africa, including in Portugal, Türkiye, Spain, the UK, the Netherlands, France, and Italy. Olena Hrazhdan is the Business Reporter at Kyiv Post, covering Ukraine’s markets, business, and economic policy. While she reports broadly on economic issues, her core focus is banking, finance, monetary and fiscal policy. Olena previously wrote for leading Ukrainian business media and became a Fellow of the International Monetary Fund’s Journalism Fellowship in 2024.