Italcement to invest EUR10m in expanding Bulgarian range

Italcement to invest EUR10m in expanding Bulgarian range
Published: 26 September 2006

Italian cement giant Italcementi Group, which owns Devnya Cement in Devnya, northeastern Bulgaria, plans to invest EUR10m in Bulgaria in new products and in expanding its current range of dry mortars, the company said.

The investment also envisages the construction of a production facility for dry mortars with an annual capacity of 100,000t.

Devnya Cement will also launch the exports of its Maestro dry mortars to Romania and Greece. The company has been exporting to Macedonia and Serbia. The exports to the Balkan countries are part of the company’s strategy for boosting its market share.

Devnya Cement currently offers some 12 products under the Maestro brand, whose range it plans to expand to 30. Nearly half of the output will be sold on the foreign market, predominantly in the Balkan peninsula countries.

The annual consumption of dry mortar in Bulgaria exceeds 220,000 tonnes under a survey of local polling agency MBMD, the Bulgarian News Digest reported on March 10, 2006.