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. Published under Cement News
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. Published under Cement News
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