Moldova’s Ciment more than doubles 2005 net profit

Moldova’s Ciment more than doubles 2005 net profit
Published: 17 March 2006

The net profit of Moldovan cement producer Ciment, majority owned by Lafarge, more than doubled last year to 50.9m lei (US$3.9m). Ciment, located in the northern town of Rezina, had a 296.7m lei statutory capital at the end of 2005. Lafarge bought 51 per cent in Ciment in 1999 for US$200,000 and pledged to repay the company’s debt of 38m lei and to invest $12m in the modernisation of the plant. Lafarge owns 71.4 per cent in the company now.