Cemex says higher prices of cement due to inflation and energy costs, Latvia

Cemex says higher prices of cement due to inflation and energy costs, Latvia
Published: 07 July 2006

Cemex, owner of Latvia’s Broceni cement plant, has said that cement prices are to be raised due to inflation and increasing prices of energy resources, according to the company’s public relations manager Linda Vitola.   Cement prices will increase by an average 10 per cent. The increase is due to inflation, higher salaries at the company, increasing energy and transportation costs. No specific day has been set for raising the prices, Vitola said. The company’s clients will be notified timely, all contracts will be renewed then.  
 
The changes in prices of cement were not planned earlier, they are closely linked to the present market situation in Latvia. Therefore it cannot be stated now whether the prices of cement will increase again until the end of the year, Vitola said. As reported, Cemex is planning to invest about US$160m in construction of a new 3500tpd plant in Latvia.