HeidelbergCement CEO Scheifele says co will continue eastward expansion

HeidelbergCement CEO Scheifele says co will continue eastward expansion
Published: 17 July 2006

HeidelbergCement AG chief executive Bernd Scheifele told Handelsblatt his company intends to continue its aggressive expansion strategy in Eastern Europe and the former Soviet Union.  
 
’We will continue to pursue our strategy of expanding in Eastern Europe and Central Asia,’ Scheifele told the newspaper without naming any specific takeover targets.  
 
So far this year, HeidelbergCement has announced acquisitions in Russia and Georgia. Last year it acquired companies in Kazakhstan and the Ukraine.  
 
Scheifele also said Germany’s largest cement maker is making good progress towards achieving its goal of achieving a return on capital employed (ROCE) of between 17-20 pct in 2007.  
 
’We might already get very close to this goal in 2006,’ Scheifele said.