Chilean cement producer Polpaico, controlled by Holcim, plans to invest US$13m in 2005, according to the company’s president, Juan Antonio Guzman.
The investment will be for maintenance and expansion works, as well as to increase the effectiveness of the company’s administration.
Polpaico’s expansion was encouraged by the high demand on the local market and the large number of both public and private projects announced for 2005.
The announcement was made during a meeting of Polpaico’s shareholders at which Guzman was reelected and Eduardo Kretschmer was appointed vice president of the company.
Polpaico’s net profit grew to 14.887bn Chilean pesos (US$25.5m) in 2004, up 45.3 per cent YoY.