Turkish cement and clinker producer Nuh Cimento expects to post at least 100 per cent year-on-year rise in its profit for 2004. The company ended 2003 with a net profit of 20.666 trln Turkish lira (US$15.4m).
Nuh Cimento registered a 15 per cent increase in domestic sales for 2004. The company will shortly start production at its US$110m new clinker line, whose construction took two years to complete. The new line raises the company’s total clinker capacity to 4.1Mta.
Nuh Cimento expects its 2005 turnover to total between 250 trln lira (US$185.9m) and 300 trln lira (US$223.1m). The company plans to export 1.5Mt of clinker and 500,000t of cement in 2005 generating an revenue of between US$90m and $100m. Nuh Cimento exports to a number of countries, including Italy, France, Spain and the Netherlands.
Nuh Cimento will also start selling energy within a month, the company’s board chairman Atalay Sahinoglu said on January 31, 2005. The company has invested US$40m in energy production over the last two years. The investment was 30 per cent financed by Nuh Cimento’s equity and the remainder was funded with a credit by US Eximbank.