Russian Inteko buys 90 per cent Of Pushka cement

Russian Inteko buys 90 per cent Of Pushka cement
Published: 08 June 2004

Russia’s Inteko has purchased 90 per cent Of Pushka cement, announced First deputy chairman of the enterprise’s board of directors Ihor Slabousov.

Inteko plans to invest about UAH5m in Pushka, where annual capacity currently amounts to amounts to 580,000t of  cement and 400,000t of clinker. In 2003 Pushka  received UAH 5.2m in profits in January-September 2003, having finished 2002 with UAH 0.827m in profits. According to data of the Agency for Development of Stock Market infrastructure, as of early 2003, the Interregional Stock Union owned 43 per cent of Pushka’s shares, and the Securities Industry company had 25.04 per cent of shares.

Inteko owns Belgorodskiy Tsement, Oskoltsement and Podgorenskiy Tsementnik in Russia, which produced over 4.5Mt of cement in 2003.
According to the Ukrtsement association, cement production in Ukraine in 2003 grew by 24.7% compared with 2002 to 8.916Mt.