Carpatcement expects 15-20 per cent surge

Carpatcement expects 15-20 per cent surge
Published: 27 September 2006

Carpatcement Holding, local subsidiary of German producer HeidelbergCement, expects to double the sales growth this year. Consequently, Carpatcement Holding’s turnover could reach some EUR180-190m this year. 
"The revaluation of the cement business growth is due to the market trend in the first six months, when we posted a 20 per cent increase in sales, a level that will hopefully be maintained by the end of the year. Real estate investment has been the main factor behind the surge of the cement market this year," Mihai Rohan, general manager of Carpatcement Holding told Ziarul Financiar daily. 
The German Group’s business could top EUR220m this year, on the three markets where it operates: cement, aggregate and concrete. 
The sales growth registered in first half of the year was prompted by the major inflow of cash from the workers employed abroad, who came to Romania at Easter and started building houses, according to Carpatcement officials. 
In 2005, the German group’s business, on all the three divisions - Carpatcement Holding, Carpat Beton and Carpat Agregate - amounted to some EUR194m, up 22 per cent from the previous year, with net profit of EUR34.6m.