Atlas searches for investor

Atlas searches for investor
Published: 19 January 2005

Atlas, leader in the domestic market for construction chemicals, continues its search for funding for its own cement factory. The task is a difficult one, considering the currently unfavorable market situation. The company needs ZL500 million for the investment. Tomasz Skalski, Atlas’ investment coordinator says negotiations are under way with three serious financial investors. According to company plans the new facility will have a production capacity of 800,000t to 1Mt of cement. Its construction would also necessitate obtaining a concession for extracting limestone. Experts from the cement market view Atlas’ plans with much scepticism. Lafarge Cement Polska chairman Andrzej Tekiel says Polish cement factories sell slightly over 11Mt annually, while their production capacity totals 18Mta. In essence there is too much available capacity.