Lafarge Moldovan unit net profit down 15.6% in 2006

Lafarge Moldovan unit net profit down 15.6% in 2006
Published: 15 March 2007

The net profit of Moldovan cement producer Ciment, majority owned by Lafarge, fell by 15.6% last year to 43m lei ($3.4m), the company said on Wednesday.

Ciment, located in the northern town of Rezina, had a 296.7 million lei statutory capital at the end of 2006.

Lafarge bought 51% in Ciment in 1999 for $200,000 (EUR151,607) and pledged to repay the company’s debt of 38 million lei and to invest $12m in the modernisation of the plant. Lafarge owns 71.4% in the company now.