The explanation made by the Cement Group of Sabancı Holding about the news recently published on the price increases in the cement industry
Recently the gap between the price and cost of production narrowed to the disadvantage of producers, due to the increase in costs of the main inputs of cement production during the year. Based on our support for the “Total Struggle with Inflation Programme” as a Group, price adjustments, which are normally required to be made during the year as a result of cost increases, have not been made.
Some price adjustments have become inevitable starting from January 2019 in order to ensure the continuity of our businesses and protect our competitive position in global markets during the current situation. However, our Group does not plan to make an increase of 40%, as was claimed in the news, for the purpose of supporting our national economy. For the Group today, our top priority is to contribute to the development of our national economy, as it always has been.
Respectfully announced to the public.