Baltsem Reduces Cement production by 23.6%

In May, the Baltsem plant (Balakliia, Kharkiv region), one of the three major cement producers, reduced cement production by 23.6 per cent or 50,100t compared with May 2004, to 162,400t.

This was disclosed in the Ukrtsement association’s statement, text of which Ukrainian News obtained. The association didn’t disclosed any information on clinker production.

As Ukrainian News earlier reported, in April, the Baltsem plant increased cement production by 10.8 per cent or 18,400t compared with April 2004, to 188,000t.

In May the Eurotsement Group (Moscow), the largest Russian company specializing in production and sale of cement, has acquired a controlling stake in Baltsem.

Baltsem, which is registered as open joint-stock company, finished the year 2004 with a loss of UAH 27.3m.

Its net revenues increased by 25.1 per cent or UAH 48.773m to UAH 243.433m in 2004, compared with 2003.

In 2004 the company produced 1.753Mt of cement and 1.314Mt of clinker.