Cemex Croatia planning new investments

Cemex Croatia planning new investments
Published: 11 January 2010

Cemex Croatia is planning new investments in 2010. In an interview in the daily Slobodna Dalmacija, Cemex Croatia head Trpimir Renic did not deny that 2009 had been a tough year because many infrastructure projects had been stopped, orders from abroad been cut and the country been faced with more insolvencies than ever.

He said the biggest problem had been that cement imports had increased.

He said: "It is unacceptable that our  domestic cement is less competitive than imported cement, which is mainly because of high state excise taxes. Because of that, the state loses and Croatian companies suffer a drop in turnover."

Renic added that the cement market had declined year on year by around 30 per cent in 2009. Cemex Croatia had less income in 2009 compared to 2008, but, thanks to cost reductions and efficiency increases, Cemex remained financially stable.

The firm is planning to use more alternative fuel and will invest EUR3m in building an installation to burn waste wood at its Sveti Juraj plant.