Kryvyi Rih Cement To Absorb Dniprotsement

Kryvyi Rih Cement To Absorb Dniprotsement
Published: 23 November 2005

One of the five biggest producers of cement, the Kryvyi Rih Cement company (Dnipropetrovsk region), intends to incorporate the Dniprotsement company (Dniprodzerzhynsk, Dnipropetrovsk region).  The shareholders of Kryvyi Rih Cement will examine the decision to absorb Dniprotsement at their meeting on January 25, 2006.  Delegates will also coordinate the merger contract and the procedure for the exchange of Dniprotsement shares to those of Kryvyi Rih Cement.  
As Ukrainian News reported, open joint stock companies Kryvyi Rih Cement and Dniprotsement specialize in the production of cement and clinker.  Kryvyi Rih Cement finished 2004 with a net profit of UAH 20.057 million, having increased its net revenues by UAH 64.986 million compared with 2003 to UAH 210.23 million.  
Kryvyi Rih Cement has a designed annual capacity of 1.5Mt of cement. Dniprotsement finished 2004 with a loss of UAH 13.065 million, having increased net incomes by 44.6% or by UAH 20.585 million to UAH 66.733 million compared with 2003. 
According to the Agency for the Development of Stock Market Infrastructure, international HeidelbergCement holds 79.6% of the shares in Kryvyi Rih Cement and 99.97% of Dniprotsement.