HeidelbergCement unit falters, Bosnia

HeidelbergCement unit falters, Bosnia
Published: 10 May 2006

Tvornica Cementa Kakanj (TCK), a Bosnian cement plant owned by Germany’s HeidelbergCement, said on Tuesday it had a 2005 net profit of 12.34 million marka ($8m), down from 16.02 million marka profit the company made in the previous year.  The company’s assets totalled 156.25 million at the end of 2005, up from 144.02 million marka a year earlier.   HeidelbergCement bought initially 51 per cent of TCK from the state in 2000. The German company raised its stake subsequently and has owned 73.94 per cent of TCK since 2003. 

TCK reported a record-high output of 608,000t of cement for 2005, up from 535,000t the previous year. It also produced a record-high 449,000 tonnes of clinker in 2005, up from 422,000 tonnes in 2004.