Spanish cement company Cementos Molins has completed its 1:10 stock split, the company informed the Spanish securities regulator CNMV on July 21, 2005. Under the operation, the company divided each one of its old shares into 10 new shares. After the stock split, the share capital of Cementos Molins totalled 66.11 million shares.
Cementos Molins invested Euro 90m in 2004, the CEO of the company, Joan Molins, told a news conference on June 30, 2005. Of this, Euro 31m was spent on a replaccement kiln line in Mexico, which would begin operation in 2006. The kiln will be built by the Mexican cement company Corporacion Moctezuma, in which Cementos Molins holds 50 per cent.
Cementos Molins also reportedly invested another Euro 31m in a cement plant in Bangladesh, in which the company holds 50 per cent. The new plant will start commercial operation in 2006. Cementos Molins also plans to build a factory in Sant Vicenc dels Horts, northeastern Spain.