Heidelberg Cement’s Bosnian unit to invest

Heidelberg Cement’s Bosnian unit to invest
Published: 27 September 2005

Tvornica Cementa Kakanj (TCK), a Bosnian cement plant owned by German HeidelbergCement, said on Monday it would invest some 100 million marka ($61.7m) in technology upgrades and environmental protection by 2010.  "Heidelberg Cement’s commitment is that within ten years 100 million marka will be invested into modernisation, environment protection and related business," Hilmo Bjelopoljak, TCK’s chief executive officer, said in a statement, marking five years of operation since the plant’s privatisation.

The company has so far invested in raising its production capacity by 10 per cent and in energy-saving and environmental-friendly technologies, the statement said. It has also secured that 45 per cent of its suppliers are Bosnian companies.

HeidelbergCement bought initially 51 per cent in 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 had a record-high output of 608,000t of cement in 2004, up from 535,000t the previous year. It also produced a record high 449,000t of clinker last year, up from 422,000t in 2003. TCK also had a net profit of 16 million marka in 2004, up 17.6 per cent from 2003.