Jordan’s Ready Mix acquires stake in local cement plant

Jordan’s Ready Mix acquires stake in local cement plant
Published: 10 April 2008

Jordan’s Ready Mix Concrete and Construction Supplies will acquire a stake in the new US$400m Qatranah cement plant in southern Jordan and raise its capital by 67%, the company said in a statement on the Amman bourse website.

The annual production capacity of the Qatranah plant will reach 2Mt. Ready Mix also increased its capital by 67% to JOD25m (US$35.3m) through bonus shares distribution to existing shareholders. In February, Ready Mix said its net profit increased by 30% to JOD3.2m (US$4.5m) in 2007.