Eurocement says now it owns six cement plants

Eurocement says now it owns six cement plants
Published: 24 November 2004

Russian holding Eurocement Group has  completed the consolidation of its cement assets, according to a statement  from the company released Tuesday.  At present, Eurocement has six cement plants, two in the Arkhangelsk Region  and one each in the Chelyabinsk, Ryazan, and Sverdlovsk regions, the
statement said.  The group holds 75 per cent to 100 per cent in each of the plants.

According to the statement, consolidating its assets Eurocement sought to  unite plants with advanced cement production technology and to pull their  cash flow together in order to finance a technical upgrade of production  facilities at the plants.  The holding plans to invest over US$150 million in the upgrade of its
production facilities in the next three years, the statement said.