ÇĠMSA CEMENT INDUSTRY AND TRADE INC. JANUARY 1, 2010 MARCH 31, 2010 ACTIVITY REPORT

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1 ÇĠMSA CEMENT INDUSTRY AND TRADE INC. JANUARY 1, 2010 MARCH 31, 2010 ACTIVITY REPORT 1

2 A) Partnership Title: Çimsa Cement Industry and Trade Inc. Report Period: Board of Directors 1. Mehmet GÖÇMEN Chairman 2. Mustafa Nedim BOZFAKIOĞLU Deputy Chairman 3. Mehmet Hayrettin ġener Member 4. Yılmaz KÜLCÜ Member 5. Serra SABANCI Member There are no Executive Members on the Board of Directors. The Board of Directors consists of five members chosen among shareholders according to the Company Core Contract. There are no independent members among the members elected in the General Assembly. Audit Board: Ġlker YILDIRIM Bahadır BORAN Members of the Board of Directors: Mehmet Hacıkamiloğlu General Manager Completing his undergraduate degree at the Boğaziçi University Construction Engineering Department, Mehmet Hacıkamiloğlu obtained his graduate degrees from the Istanbul University International Administration Department and Executive MBA program at Sabancı University. Started his service in the Sabancı Group as a Facility Manager at Betonsa, continued his career in Sabancı Group as an Investment and Planning Specialist in the company. He worked as Strategy Development and Planning Manager between 1997 and 1999 at Akçansa; as Company Manager at Agregasa between 1999 and Hacıkamiloğlu began working as Deputy General Manager at Çimsa (Financial and Administrative Affairs) after working as Finance Coordinator for two years. Assigned as Çimsa General Manager on , Mr.Hacıkamiloğlu currently works as Çimsa General Manager. Mustafa Nedim BOZFAKIOĞLU (Elected Deputy Chairman of the Board of Directors on ) Member Born in Tarsus in 1950, Nedim Bozfakıoğlu graduated from the Istanbul University, Faculty of Economics in He worked as Financing Manager and Financial Affairs Deputy Manager at Lassa and Kordsa. He then worked as Budget, Accounting and Consolidation Department Head at H.Ö. Sabancı Holding. He currently works as General Secretary at Hacı Ömer Sabancı Holding. Yılmaz KÜLCÜ Member Born in Afyon in 1944, Yılmaz Külcü graduated from the Istanbul Technical University Faculty of Electrical Engineering in Beginning his career as an Electrical Engineer at the TEK 9th Regional Directorate, Külcü later worked as Afyon Cement Premises Manager, Söke Cement Industry Assistant Manager, Elazığ Cement General Manager, Çorum Cement General Manager, Gaziantep Cement General Manager, Çitosan Electrical Works Department Head, Çitosan Technical Assistant General Manager and Member of the Board of Directors and Niğde Cement General Manager. Assigned to Çimsa Cement Industry and Trade Inc. on , Mr. Külçü continues his duty as a Member of the Board of Directors of Çimsa Cement Industry and Trade Inc. Mehmet Hayrettin ġener Member 2

3 Mehmet Hayrettin ġener began his career as Shift Engineer between 1979 and 1981 at Çanakkale Cement Industry and Trade Inc., and worked as Production Chief, Production Manager, Enterprises Group Manager and Deputy General Manager at Akçimento respectively as of He worked at the Büyükçekmece Plant between 1996 and 1999, and the Çimsa Cement and Trade Inc. Kayseri Plant between 2004 and 2005 as Plant Manager. As General Manager at the OYSA Cement Industry and Trade Inc. until , ġener was elected as a Member of the Board of Directors of Çimsa Cement Industry and Trade Inc. as of Serra SABANCI Member Born in 1975 in Adana, Serra Sabancı completed her undergraduate degree at the Portsmouth University and Economy Department of Ġstanbul Bilgi University, from where she graduated ranking first in her class. Having worked at Temsa, Serra Sabancı has also taken trainings on Company Acquisition and Board Memberships at the Institute of Directors in London. Serra Sabancı currently works as a Board Member on the Board of Directors of Sabancı Holding and various group companies, and as a member of the Board of Trustees at the Sabancı Foundation. She was elected for membership of the Board of Directors of Çimsa Cement Industry and Trade Inc. as of B) Industrial Developments and Main Factors Affecting the Industry: Cement production throughout the world decreased by 5.7% in 2009, especially with the shrinkages in demand in developed countries is expected to be a year of recovery and world cement is expected to grow by 4-5%, except in China. Growth is foreseen to be higher in developing countries and limited in developed countries as in However, especially due to heavy winter conditions experienced in Europe and America, the recovery in consumption has not reached the expected level yet in the first quarter of Cement consumption in Turkey remained at the same level as the previous year in 2009, at 52.8 million tons. Cement consumption is expected to grow by 3-4% in It is also expected that infrastructure investments in the construction industry will continue, and there will be increases in housing projects with the support of low interest housing credits provided by the banks. According to the data published by TÇMB, domestic sales increased by 3% in comparison to the same period of the previous year. Also in this period, total cement and clinker demand increased by 22%, reaching 3 million tons. Major increases in export were seen in the Marmara and Mediterranean Regions especially. The growth trend in internal demand and export observed in the industry in the first two months is expected to continue in the following months. C) Profit Distribution Policy of Our Company Our Company has adopted Distributing a minimum of 50% of the distributable profit to the partners until the end of May following the accounting period as its profit share distribution policy. This policy may be reviewed by the Board of Directors each year according to national and global economical conditions, current projects and the situation of funds. D) Financial Resources of the Company and Risk Management Policies: Financing of the company's investment and operating capital are supplied with short and medium-long term export, Turkish Lira and foreign currency credits. Defining and monitoring all possible risks that our company may encounter forms the basis of our risk management policy. In parallel to the risk management and applications procedure implemented by one of our partners, Hacı Ömer Sabancı Holding Inc. group companies, corporate risk management applications were initiated. All risks that our company may encounter were classified according to their priority and are being 3

4 closely monitored by Company top management and the Board of Directors. In order to deal with all risks that might directly affect Company s financial status for all our facilities, the company was insured within the context of global policies in accordance to the Sabancı Holding risk management policies. Foreign exchange risks of the company that may arise from foreign currency credits are automatically disposed of with export revenues, and appropriate financial instruments are evaluated separately. The Company began using TL credits with the decrease in TL credit costs. Decreasing our financing costs was the aim of utilizing short term TL credits from Eximbank. E) Forecasts of Company Development: As a member of Sabancı Cement Group, Çimsa enhances its strategic planning process with its scenario-based approach. In the broadest sense, scenario-based strategic planning is defined as developing necessary strategic options in order to be successful in possible future scenarios. Therefore Çimsa will determine the best strategic approach for each scenario possible in the future instead of planning based on a single foreseen future, and this provides flexibility to Çimsa in planning. F) Quality and quantity of issued capital market instruments, if present There are no issued capital market instruments. G) Our Production Plants and Production Capacities: Mersin Plant First Facility Production Line The rotary kiln in the plant which started production in 1975 consists of two pre-heater cyclone lines each of which are four-staged. In 1983, coal grinding and combustion systems were added to the plant, leading to a savings in fuel costs. 100% petroleum coke (with 4.5% sulphur) is burned in this kiln. In 2006, a waste combustion unit was installed to bring additional income to the plant. Second Facility Production Line A second facility rotary kiln that can produce both grey and white cement according to needs began production in December The facility consists of a raw material mill with crushers and prehomogenization systems, two raw material silos, a rotary kiln and clinker stock hall. Third Facility Production Line Another line which produces white cement was brought online in December The facility consists of a raw material mill with crushers and pre-homogenization systems, two raw material silos, a rotary kiln and clinker stock hall. The facility also has a white cement mill with a production capacity of 100 tons/hour. 100% petroleum coke (with 4.5% sulphur) is burned in this kiln. Calcium Aluminate Cement Production Plant This plant consists of a kiln with a production capacity of 2.3 tons/hour, a cement mill with a grinding capacity of 5 tons/hour and a packaging unit. It was brought online in A second kiln with a clinker capacity of 2 tons/hour was put into production in In 2008, a bulk filling plant with a capacity of 50 tons/hour and installation of a packaging machine with a capacity of 45 t/h were completed. Paper Bag Plant 2,094,500 million paper bags were produced at the Paper Bag Plant located in Mersin Plant in the first quarter of 2010 and these paper bags were used at the Mersin, Kayseri, Niğde, EskiĢehir and Ankara Plants. Kayseri Plant 4

5 The Çimsa Kayseri Plant was established in 1992 with a cement grinding and packaging capacity of 820,000 tons and was acquired by Çimsa in A pre-crusher system was built into the cement mill in 2005 in order to increase cement grinding capacity and reduce energy consumption. The foundation of a clinker production line was laid in order to transform the existing facility into an integrated cement plant. Clinker production at the plant began at the end of December 2005 with the completion of building, installation and engagement works. Plant capacity, which was 1,800 tons/day was increased to 2,175 tons/day as a result of the improvement works carried out. The existing trass mill was transformed into a coal mill with a capacity of 20 tons/hour. EskiĢehir Plant The EskiĢehir Cement Plant was brought into service in 1957 on the 22 nd kilometer of the EskiĢehir - Istanbul highway on a plot of 1,800 acres. With its wet kiln 3.6 meters in diameter and 125 meters in length of German MIAG technology and a capacity of 150,000 thousand tons/year, the plant continued production until Its first line, still in existence today, was installed in 1976 with a three-staged pre-heater and a dry system kiln 3.6 meters in diameter and 52 meters in length with a capacity of 275,000 thousand tons/year. Also with MIAG technology, the line s total capacity has been increased to 425,000 thousand tons/year. With the pressure of the rapid increase in energy prices in the 80's and the opportunities provided by industrial technical advancements, in 1987 the dry system production line pre-heater was replaced with a four-staged preheater with a precalcination feature and annual capacity was increased to 440,000 tons with improvements in other units. The production plant was acquired by Çimsa from SDIF on December 27, The plant reached a record level of production with 486,000 tons of clinker produced in its first year under the umbrella of Çimsa. The clinker production capacity of the Çimsa EskiĢehir Cement Plant, which was 480,000 tons in 2006, reached 1.4 million tons of clinker with the capacity increases made in the previous two years under Çimsa. Niğde Plant The Niğde Plant was established in 1957 under the name of Niğde Cement Industry. Its rotary kiln, with an established capacity of 850 tons/day (265,000 tons/year) was put in service in After modernization in 1993, kiln capacity increased from 850 tons/day to 1,150 tons/day. Kiln capacity was increased to 1,240 tons/day in ÇĠMSA FACILITY INFORMATION Clinker Production Raw Material Mersin Çimsa Capacity (Tons/Day) Kiln Diameter Cooler Type Mill Type Fuel Type Production Lines (m) First Facility 3,380 grey clinker 5,25 Ünax cooler Ball mill 100% petroleum coke Second Facility 1,785 grey clinker 3,60 Grid cooler Roller mill 100% petroleum coke or 1,450 white clinker 3,60 Grid cooler Roller mill 100% petroleum Second Facility coke Third Facility 1,750 white clinker 3,75 Grid cooler Roller mill 100% petroleum coke First Isıdaç 55 ısıdaç clinker 100% Fuel Oil Second Isıdaç 55 ısıdaç clinker 100% Fuel Oil Kayseri Çimsa 2,175 grey clinker 3,60 Grid cooler Roller mill 100% petroleum Production Line coke EskiĢehir Çimsa First Production 1,700 grey clinker 3,60 Grid cooler Ball mill Local lignite, Line imported Second Production Line steamcoal 2,300 grey clinker 3,60 cross bar cooler Vertical mill Local lignite, imported steamcoal Niğde Çimsa Production Line 1,240 grey clinker 3,80 Grid cooler Ball mill 100% petroleum coke Ankara Çimsa Grinding Facility Mill Production Mill Diameter (m) Mill Length (m) Cement Mill Type Capacity (Tons/Day) 2,040 4,2 13 Ball mill 5

6 OUR READY-MIXED CONCRETE FACILITIES Çimsa Ready-mixed concrete started production with Zeytinli Ready-mixed Concrete facility in Adana in Property of 37 of the total 46 ready-mixed concrete plants 25 of which are wet and 21 of which are dry system located in Adana, Mersin, Kayseri, Antalya, Osmaniye, KahramanmaraĢ, NevĢehir, Aksaray, Karaman, Konya, Bilecik, Adapazarı, Konya, Bursa, EskiĢehir and Kütahya belong to Çimsa. Remaining nine of them are leased for operation by Çimsa. Çimsa also carries out its activities in aggregate industry that it considers as one of its main businesses. In this direction it invests in mineral fields where a good quality of aggregate is derived and where environmentfriendly production can be performed in Mediterranean and Central Anatolia regions. With two active aggregate pits at the moment, Çimsa started to supply high quality aggregate needed by the ready-mixed concrete and construction industries from these plants in Planning to continue these investments in parallel to the developments in construction and infrastructure needs of the Turkish market and within the framework of its sustainability principles, Çimsa aims to double its existing production capacity in 2010 first, and then aims to complete the CE certificates of all pits and increase its reputation in the industry as a corporate manufacturer. A total of 314 transit mixers, 72 mobile and 5 fixed pumps are used in the plants where 127 experienced and specialized employees work. Property of 257 transit mixers, 14 loaders, 65 mobile and 5 fixed pumps of these machines belong to Çimsa. Following technological and scientific developments closely and presenting these developments to its customers as new products, new machine pools and services, Çimsa continued procurement of new machines in Volvo brand transit mixers with environmentally sensitive EURO4 motors were purchased within this context. As well as the wet system mixers with Stetter brand ultra-structure of 9 cubic meters capacity, 4 mobile pumps with 36 meter booms, two of which are Schwing and the other two are Putzmeister brand were also purchased. Within the context of the Ready-Mixed Concretes Central Dispatch Project it realized in 2009, Çimsa provided collection of he customer orders placed to all ready-mixed concrete plants at a single center, calculation of the distance and raw material costs considering the construction site information of the customers and realization of dispatch to the related construction site from the most profitable plant. Project aims to realize the deliveries in quality and on time and increasing customer satisfaction and loyalty. Allowing for performing credit query fort he customers at order stage, the system provided current monitoring of the customer credit information. Replacing also the production software in all plants in 2009, Çimsa continues its way to become the first company in Turkey to use its own software in its plants while performing all data flow automatically. International Affiliations and Terminals Çimsa Cementos Espana S.A.U (Spain) Belonging completely to Çimsa, the terminal was engaged in Sevilla, which is one of Spain's most important ports in Çimsa Isıdaç-40 and super white cement is dispatched in bulk from the facilities in Mersin and presented as bulk or in bags using the packaging systems of the 5 thousand tons silo. Producing also white cement blended furnishing materials, the facility creates a certain buyer group in Spanish market. CSN Cement Sales North GmbH (Germany) Established with 50% partnership of German CTN GmbH and Çimsa, CSN markets white cement and Isıdaç-40 in Germany with its bulk cement silo capacity of 7 thousand and 500 tons, and markets white cement and Isıdaç- 40 in Germany. Çimsa Cement Free Zone Ltd. (Cyprus) 6

7 Closely monitoring growth potentials in its surroundings, Çimsa has acquired Erçim Cement Ind. LLC within the context of the investment decision it has taken for TRNC in Located in Famagusta Port, the facility was made suitable for bulk cement storage and sales in the end of 2005 with the investment made after acquisition. Approximately 50 thousand tons of grey cement was sold in 2007 in the plant with a cement storage capacity of approximately 5 thousand tons. In 2008, 70 thousand tons of grey cement sales is aimed in Cyprus market. Cimsarom Marketing Distributie S.R.L. (Romania) CĠMSAROM was established in Constanza, a port city of Romania in February 2006, all of its shares belonging to Çimsa in order to perform marketing and distribution of especially white cement and Isıdaç 40 both in Romania and abroad. Çimsa-Rus Cement Trading Company Limited (Russia) Belonging completely to Çimsa, the terminal was engaged in Novorossiysk, which is one of Russia's most important ports. Med Con SRL (Italy) 60% of the shares of the MED.CON Srl Company that owns a cement terminal in Italy s Trieste Port that provides growth opportunity in developing markets and representing a strategic importance in reaching the white cement markets and customers and providing sustainability of competition advantage was acquired on February 9, H) Production and Sales Çimsa produces and sells white/grey clinker, white/grey cement and calcium aluminated cement. First Quarter Production Figures of 2010 Clinker Production Grey Clinker White Clinker ISIDAÇ-40 Clinker Sulphate Resistant Clinker TOTAL Cement Production Grey Cement White Cement ISIDAÇ-40 SDÇ Cement EkoHarç TOTAL 672,150 tons 157,212 tons 4,722 tons 0 ton 834,084 tons 796,078 tons 194,014 tons 5,778 tons 1,005 tons 5,007 tons 1,001,882 tons In January 1 March period our domestic sales turnover increased by 50% in comparison to the same period of the previous year and reached to 94 million TL. Our international sales turnover decreased by 35% and reached to 36 million TL. 7

8 l) Financial Ratios: Consolidated Consolidated Net Operating Capital= Current Actives Current Passives 57, I-Liquidity Ratios: 1- Current Ratio = Floating Assets / Short Term Liabilities Liquidity Ratio = Floating Assets-Stocks-Other Floating Assets / Short Term Liabilities Current Assets / Short Term Liabilities II-Financial Structure Ratios: Total Liabilities / Equity Capital Short Term Liabilities / Total Actives Long Term Liabilities / Total Actives III-Profitability Rates: 1-Net Period Profit / Net Sales Net Period Profit / Total Actives Net Period Profit / Equity Capital J) Changes within the Upper Management Throughout The Year and Names and Surnames of Current Top Managers: Mehmet Hacıkamiloğlu General Manager Hüseyin Özkan Assistant General Manager (Cement Sales and Marketing) Basri Dinçer Assistant General Manager (Cement Production) (1/05/2010 Technical Consultant) Nevra Özhatay Assistant General Manager (Financial Affairs) Tamer Denizci Assistant General Manager (Purchasing and Logistics) ġahap Sarıer Assistant General Manager (Ready-mixed concrete) Ayfer GüreĢ Assistant General Manager (Corporate Development and Human Resources) Mutlu Doğruöz Assistant General Manager (Investment and Automation) Doğan Özkul Plant Manager (Mersin) Mehmet ġahin Plant Manager (Kayseri) Levent Öncel Plant Manager (Niğde) Ülkü Özcan Strategy and Business Development Manager Mehmet Hacıkamiloğlu General Manager Completing his undergraduate degree at the Boğaziçi University Construction Engineering Department, Mehmet Hacıkamiloğlu obtained his graduate degrees from the Istanbul University International Administration Department and Executive MBA program at Sabancı University. Started his service in the Sabancı Group as a Facility Manager at Betonsa, continued his career in Sabancı Group as an Investment and Planning Specialist in the company. He worked as Strategy Development and Planning Manager between 1997 and 1999 at Akçansa; as Company Manager at Agregasa between 1999 and Hacıkamiloğlu began working as Deputy General Manager at Çimsa (Financial and Administrative Affairs) after working as Finance Coordinator for two years. 8

9 Assigned as Çimsa General Manager on , Mr.Hacıkamiloğlu currently works as Çimsa General Manager. Hüseyin Özkan Deputy General Manager (Marketing and Sales-Cement) Graduating from the ODTÜ Economics Department, Hüseyin Özkan began his career at Exsa Export as Marketing Chief in Transferring to Çimsa Cement in 1986, Özkan worked as Domestic and International Trade Chief and Sales and Marketing Manager respectively. Özkan works as the Deputy General Manager Responsible for Marketing and Sales as of Basri Dinçer Deputy General Manager (Cement Production) Graduating from the ITU Chemical Engineering Department, Basri Dinçer began his career as Operations Engineer at Çanakkale Cement in Working as Quality Control Chief at Nuh Cement in 1982, Dinçer worked as the Operations Manager at Enka Teknik after his one year experience in Nuh Cement. Transferring to Çimsa after 6 years in his position, Dinçer worked as Production Manager between 1989 and Basri Dinçer started in his position of Deputy General Manager Responsible for Cement Production at Çimsa beginning in ġahap Sarıer Deputy General Manager (Ready-mixed Concrete) ġahap Sarıer started his career as a field manager at Betonsa in 1995 after graduating from the Construction Engineering department of Dokuz Eylül University. Continuing his career as Operations Chief between 1995 and 1997, Sarıer worked as Akçansa Ready-mixed cement Regional Manager between 1998 and Working as Operations Manager in Karçimsa A.ġ. for the following two years, Sarıer began working at Çimsa as Deputy General Manager responsible for ready-mixed Concrete in While continuing in his current position, Sarıer obtained an Executive MBA degree from Sabancı University. Nevra Özhatay Deputy General Manager (Administrative Affairs) Obtained her MBA degree from UK's Exeter University after graduating from the Business Administration Department of Boğaziçi University, Nevra Özhatay began working at the Sabancı Holding Cement Group as a Finance Specialist and Talent Pool candidate. Promoted to Management Support Manager in 1996, Özhatay was assigned as Strategy and Business Development Specialist in 1998, Planning and Control Manager in 2000, Strategy and Business Development Manager in 2004 and as Logistics, Strategy and Business Development Director as of Özhatay took over the Financial Affairs Deputy General Manager position as of Tamer Denizci Deputy General Manager (Purchasing and Logistics) Beginning his career as Financial Affairs Chief at Dusa Industrial Co., Tamer Denizci worked as Financial and Administrative Affairs Manager between 1992 and 1994 in Yes International A.ġ. after his experience of 4 years in Dusa. Beginning as the Financial Affairs Manager at Lafarge Beton A.ġ. in 1994, he worked as Export and Sales Director at Lafarge Aslan Cement. He began working at Çimsa as Financial Affairs Deputy General 9

10 Manager and is currently working as Purchasing and Logistics Deputy General Manager. Denizci graduated from the ĠTÜ Administration Engineering Department. Mutlu Doğruöz Deputy General Manager (Investment and Automation) Graduating from the Boğaziçi University Electrical and Electronic Engineering Department, Mutlu Doğruöz began his/her career as Electronics Chief at Enka Teknik in Working as the manager in charge of the establishment of automation systems for five years, Doğruöz began work as the Deputy Project Manager at the Saudi Services Group. Transferred to Çimes Electronic Industry after 4 years of experience at the Saudi Services Group, Doğruöz worked as Company Manager, Deputy General Manager and General Manager respectively at Çimes. Beginning at Çimsa as Investment Manager in 2006, Mutlu Doğruöz currently works as Deputy General Manager Responsible for Investments at Çimsa. Ayfer GüreĢ Deputy General Manager (Corporate Development and Human Resources) Graduating from the Boğaziçi University Department of Counselling and Psychological Consultancy, Ayfer GüreĢ obtained her graduate degree on Organizational Psychology from Columbia University. Beginning her career as a Human Resources Specialist at Mudo A.ġ., GüreĢ started working as a specialist in Sabancı Holding after her graduate education. Continuing her career as Human Resources Manager at Sabancı Holding between 1997 and 2007, she began working as Corporate Development and Human Resources Manager at Çimsa Cement in Ayfer GüreĢ currently works as Deputy General Manager responsible for Corporate Development and Human Resources. Doğan Özkul Plant Manager (Mersin) Completing his undergraduate degree in Chemistry Engineering at Istanbul University, Doğan Özkul worked as Quality Control Chief at Çanakkale Cement between 1978 and Continuing his Quality Control and Production Management career, he began working at Enka Teknik in 1983 and remained there for four years, Özkul worked as Production Manager between 1988 and Working as Karçimsa Company Manager between 2006 and 2007, Özkul served as Çimsa Cement Niğde Plant Manager between 2007 and Özkul currently works as the Mersin Plant Manager. Mehmet ġahin Plant Manager (Kayseri) Obtaining his post graduate degree from the Hacettepe University Physical Engineering Department, Mehmet ġahin began his career as a Research Specialist at TCMB in He continued there until Transferred to Çimsa Cement in 1985, ġahin worked as Shift Engineer, Process Control Chief and R&D Manager respectively. Assigned as Çimsa Kayseri Plant Manager in 2005, ġahin continues in that position. Levent Öncel Plant Manager (Niğde) Levent Öncel completed his undergraduate degree at the Chemical Engineering Department of METU and his graduate degree at the Mersin University Geology Engineering Department. He started working as Production Manager at Berdan Tekstil in He worked as Quality Control Engineer, Process Control Chief, Quality Control Manager and Production Manager respectively at the Çimsa Mersin Plant beginning in Assigned as Çimsa Niğde Plant Manager in 2008, Öncel continues in that position. Ülkü Özcan 10

11 Strategy and Business Development Manager Graduated from Galatasaray High School and Marmara University Business Administration (English) Department, Ülkü Özcan started his/her career in Lafarge Turkey in Özcan worked as Strategic Planning Specialist between 1999 and 2003 Strategic Business Development Manager between 2003 and 2005 and Marketing Project Manager between 2005 and 2007 respectively. Transferred to Çimsa Cement in January 2007 as Strategy and Business Development Manager, Özcan currently continues this position. K) Personnel Movements and Collective Labor Agreement Applications a) Personnel and Worker Movements: There are 988 employees and workers working at Çimsa's headquarters and other plants in total as of employees and workers resigned from Çimsa and 62 employees and workers were recruited within the period. b) Collective Labor Agreement: The collective labor agreement, the period of which ended on , was replaced with a new collective labor agreement signed between Turkish Çimse-ĠĢ Labor Union and Cement Industry Employers' Union on This agreement entered into effect as of for 3 years. The period of this collective labor agreement will end on c) Wages and Benefits for Employees: Off-Scope Employees: Wage + 4 bonus wages per year For employees and workers that TĠS is applied for: Wage + 4 wages of bonus per year 140.-TL./Month Social Benefits Social Benefits such as Clothing, Birth, Death, Marriage, Meal, Transport and etc. are also provided. Additionally, white collar employees may be provided with supplementary benefits such as private life, private health insurance and individual pension insurance according to their positions. Ö) Information on Donations Made Throughout The Year: Our Company donated 31,836 TL to various public institutions and organizations throughout the year. L) Information on Existence of Peripheral Organizations: HEADQUARTERS Kısıklı Cad. No:4 Sarkuysan - Ak ĠĢ Merkezi S Blok Altunizade - Ġstanbul Telephone: (0216) Fax: (0216) CEMENT PLANTS Çimsa Mersin Toroslar Mah. Tekke Cad. YenitaĢkent Mersin Telephone: (0324) Fax: (0324) Çimsa Kayseri 11

12 Malatya Karayolu 35. Km Bünyan Kayseri Telephone: (0352) Fax: (0352) Çimsa EskiĢehir Ġstanbul Karayolu 22. Km Çukurhisar EskiĢehir Telephone: (0222) Fax: (0222) Çimsa Ankara KarĢıyaka Mah. Fırat Cad. No: 3 Lalahan Ankara Telephone: (0312) Fax: (0312) Çimsa Niğde Hacı Sabancı Bulvarı Niğde Telephone: (0388) Fax: (0312) Çimsa Malatya Terminal TCDD Yanı Çimento Dolum Tesisi Battalgazi Malatya Telephone: (0422) Fax: (0422) Çimsa Marmara Terminal Sahil Caddesi Rota Limanı Ġçi Yarımca/ Körfez/Kocaeli Telephone: (0262) Fax: (0262) Çimsa Cement Industry and Trade Inc.«Mersin Free Zone Branch Yalçın Alabeyoğlu Bulvarı Parkur ĠĢ Merkezi Ofis No 209 Mersin Phone: (0324) Fax: (0324) READY-MIXED CONCRETE FACILITIES Zeytinli Ready-mixed Concrete Plant Adana - Mersin Yolu Üzeri 17. Km Kestel Mevkii Zeytinli Seyhan/Adana Phone: (0322) (3 lines) Fax: (0322) Karahan Ready-mixed Concrete Plant Eski Karaisalı Yolu Üzeri Seyhan / Adana Phone: (0322) Fax: (0322) Misis Ready-mixed Concrete Plant Hacı Sabancı Organize Sanayi Bölgesi 6. Cadde Misis Yüreğir / Adana Phone: (0322) Fax: (0322) Ġncirlik Ready-mixed Concrete Plant Güzelevler Mah. Girne Bulvarı Bossa - 2 Fab. Yanı Yüreğir / Adana Phone: (0322)

13 ÇĠMSA ÇĠMENTO SANAYĠ VE TĠCARET A.ġ. SERĠ:XI NO:29 SAYILI TEBLĠĞE ĠSTĠNADEN HAZIRLANMIġ YÖNETĠM KURULU FAALĠYET RAPORU Fax: (0322) Osmaniye Ready-mixed Concrete Plant Tüysüz Beldesi Yolçatı Mevkii D-400 Karayolu Üzeri Toprakkale / Osmaniye Phone: (0328) Fax: (0328) KahramanmaraĢ Ready-mixed Concrete Plant Kayseri Yolu Üzeri 2. Km Galericiler Sitesi BitiĢiği KahramanmaraĢ Phone: (0344) Fax: (0344) Kozan Ready-mixed Concrete Plant Kozan Organize Sanayi Bölgesi Ġçi Kozan / Adana Phone: (0322) Fax: (0322) Manavgat Ready-mixed Concrete Plant Köyönü Çeltek Mevkii Sanayi Sitesi KarĢısı Ilıca, Manavgat / Antalya Phone: (0242) (3HAT) Fax: (0242) Alanya Ready-mixed Concrete Plant Büyükyer Mahallesi Payallar / Alanya Phone: (0242) (2 Lines) Fax: (0242) Çimsa - EskiĢehir Ready-mixed Concrete Plant Muttalip Yolu 500. Metre - EskiĢehir Tesis Müh. Semih ġafak Kandaz Phone: (0222) Fax: (0222) Kütahya Ready-mixed Concrete Plant Kütahya - Balıkesir Yolu 1. Km - Kütahya Phone: (0274) Fax: (0274) Kumarlı Ready-mixed Concrete Plant Çevre Yolu Konaklar Mah. Sivas Caddesi KavĢağı / Kayseri Phone: (0352) (3 lines) Fax: (0352) Anbar Ready-mixed Concrete Plant Ankara Karayolu Üzeri Ambar Mevkii Bölge Trafik Arkası / Kayseri Phone: (0352) Fax: (0352) Develi Ready-mixed Concrete Plant Develi - Zile Yolu Zile Kasabası Develi / Kayseri Phone: (0352) Fax: (0352) NevĢehir Ready-mixed Concrete Plant Niğde Yolu Üzeri 7.Km. Göre / NevĢehir Phone: (0384)

14 ÇĠMSA ÇĠMENTO SANAYĠ VE TĠCARET A.ġ. SERĠ:XI NO:29 SAYILI TEBLĠĞE ĠSTĠNADEN HAZIRLANMIġ YÖNETĠM KURULU FAALĠYET RAPORU Fax: (0384) Yenihal Ready-mixed Concrete Plant Bahçelievler Mah sok. No:2 Yenihal Yolu Yalınayak Kasabası / Mersin Phone: (0324) Fax: (0324) Tarsus Ready-mixed Concrete Plant Address: Çamlıyayla Yolu, Eshab-ı Kehf Yol KavĢağı, Tarsus / Mersin Phone: (0324) Fax: (0324) Batıkent Ready-mixed Concrete Plant Çamlıca Mah. Yıldırımhan Lisesi Arkası / Mersin Phone: (0324) Fax: (0324) Tece Ready-mixed Concrete Plant Cumhuriyet Mah. Mersin-Silifke Karayolu Üzeri, Tece Mevki / Mersin Phone: (0324) Fax: (0324) Silifke Ready-mixed Concrete Plant Kabasakallı Köyü Gökçeboyu Mevki, Silifke / Mersin Phone: (0324) Fax: (0324) Aksaray Ready-mixed Concrete Plant Organize San. Bölgesi Aksaray Phone: (0382) Fax: (0382) Karaman Ready-mixed Concrete Plant Organize San. Bölgesi Karaman Phone: (0338) Fax: (0338) Ereğli Ready-mixed Concrete Plant Niğde Yolu Üzeri 3.Km. Ereğli / Konya Phone: (0332) Fax: (0332) Konya Ready-mixed Concrete Plant Horozluhan Mahallesi Anayurt Caddesi No: 10 Selçuklu / Konya Phone: (0332) Fax: (0332) YeniĢehir Ready-mixed Concrete Plant Akdere Mevkii Org. San. Bölgesi YeniĢehir / Bursa Ġnegöl Ready-mixed Concrete Plant Cerrah Kasabası Kalburt Mevkii Dereboyu - Ġnegöl / Bursa Phone: (0224) Fax: (0224)

15 ÇĠMSA CEMENT INDUSTRY AND TRADE INC. BOARD OF DIRECTORS ACTIVITY REPORT PREPARED IN ACCORDANCE WITH COMMUNIQUÉ SERIAL: XI NO:29 Ġnegöl Stone Pit Karalar Köyü Mevkii Ġnegöl / Bursa Phone: (0224) Adapazarı Ready-mixed Concrete Plant Toroslar Mah. Plevne Cad. No: 31 Sakarya Phone: (0264) Pamukova Ready-mixed Concrete Plant Yenice Mah. Murualtı Mevkii Pamukova / Sakarya Phone: (0264) Fax: (0264) Osmaneli Ready-mixed Concrete Plant Camikebir Mah. Çörektepe Mevkii Osmaneli / Bilecik Phone: (0228) Fax: (0228) Bilecik Ready-mixed Concrete Plant 1. Organize Sanayi Bölgesi 8. Cadde No: 3 Merkez / Bilecik Phone: (0228) Fax: (0228) INTERNATIONAL TERMINALS Cementos Espana S.A.U Spain Phone: Fax: Address: Carretera de la Esclusa S/N, Darsena del Batan Notre, Puerto de Sevilla / Spain CSN Cement Sales North GmbH (Germany) Phone: Fax: /22 Address: Nesserlander Strasse, 5 Emden / Germany Çimsa Cement Free Zone Ltd. Cyprus Phone: Fax: Address: Free Port Zone, Famagusta/TRNC Cimsarom Marketing Distributie S.R.L. (Romania) Phone: Fax: Address: Bd Mamaia, Ofice Nr 5, Nr 251 Et 4, Constanza/Romania Çimsa-Rus Cement Trading Company Limited (Russia) Phone: Address: Malozemelskaya Str, No: 16, Novorossiysk / Russia CIMSA ADRIATICO S.R.L. (Formerly:MED CON SRL) Italy Phone: Fax: Address: ası Riva Alvise Cadamosto, Trieste / Italy 15

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