Inteco buys controlling stakes

Inteco buys controlling stakes
Published: 13 August 2004

The Moscow Inteco group, incorporating almost 30 companies, continues to buy cement assets.  The company has now bought controlling stakes in two companies, Ulyanovsk Cement and Zhigulevsk Construction Materials in the volga region.

Market watchers suggest Inteco’s expansion to the Povolzhye region is a very important step in conquering the Russian cement market. The deal will help the company to become one of the volga region market leaders. The market is the second largest after Russia’s Central region. In 2003, the company’s plants produced nearly 4.6Mt of cement, and the company’s cement business turnover reached US$160m.