Baltsem Leaves Ukrtsement

Baltsem Leaves Ukrtsement
Published: 14 June 2004

Ukraine’s largest producer of cement, the Baltsem plant (Balakliia, Kharkiv region) has left the Ukrainian Association of Enterprises and Organizations of the Cement Industry, otherwise known as Ukrtsement.  Serhii Lytvynenko, the chairman of Baltsem’s management board, disclosed this to Ukrainian News.  In his words, Baltsem decided to leave Ukrtsement in as much as it does not agree with the position of the management of Ukrtsement, and in particular, it differ with the chairman of the Association, Hennadii Donets.  "We do not agree with the position of the association’s management... the work of the association has been unnecessarily politicized... the uproar and noise that the association is creating concerning the fact that prices will be stable and will not increase... do not conform to reality," Lytvynenko said.  In his words, prices for gas went up in June and correspondingly the prices for cement will gradually increase.  As Ukrainian News reported previously, in April Ukrtsement predicted stable prices for cement during the course of 2004.

In February, the Concern of Enterprises and Organizations of the Cement and Asbestos-Cement Industry or Ukrtsement (Kyiv) reorganized into the Association of Enterprises and Organizations of the Cement Industry (Ukrtsement). Its membership includes 26 enterprises of the sector.

Based upon the information of the Agency for Development of the Stock Market’s Infrastructure, 12.5 per cent shares in Baltsem belong to Barrington Industries Ltd (Great Britain), 12.4 per cent - to Verblood Traders and Consultants Ltd (Cyprus), and 14.47 per cent to Occidental Management Co. Ltd (Cyprus).