Rohrdorfer Zement Buys Austrian producer

Rohrdorfer Zement Buys Austrian producer
Published: 06 October 2004

German cement producer Rohrdorfer Zement has bought the stake of Austrian Hatschek Group in local cement producer Gmundner Zement Produktions- und Handels GmbH for an undisclosed sum, it was reported on October 5, 2004.  Through the purchase the German company has increased its stake in Gmundner Zement to 98 per cent from 26 per cent.  Hatschek Group will in turn acquire shares in German cement producer HeidelbergCement AG, which is a 30 per cent shareholder in Rohrdorfer Zement.  The ownership change will not affect the number of employees in Gmundner Zement. At present, the Austrian company has a staff of 201.  Gmundner Zement generated sales of Euro 42m for 2003. Rohrdorfer Zement, with a total staff of 900, generated sales of Euro180m for 2003.