Lukavac renovation completed

Lukavac renovation completed
Published: 07 June 2004

With the official re-opening, Friday June 4, of the cement plant in Lukavac, Bosnian-Herzegovina the firm group Asamer & Hufnagl brought to completion one of the largest foreign investments in Bosnia-Herzegovina. So far the Asamer subsidiary ALAS invested 55 million Euro in the purchase and complete renewal of the cement plant Lukavac.

With the privatisation contract from October 12, 2001 ALAS International took over 51 percent of the cement factory Lukavac located in the region of Tuzla. The purchase price was approximately 20 million Euro. Currently ALAS through the purchase of stock by investment funds and small shareholders holds 80 percent of the cement plant Lukavac. With further investments of 35 million Euro by ALAS the cement production capacity was increased from 250,000 tons cement to 700,000 tons.  This investment also provided for the purchase of a new silo and filter machine, established new burning and crushing machines, as well as modernized the rotary kiln and changed the machines to use locally obtained coal instead of imported "oil heavy fuel. "

Asamer & Hufnagl  is completely family owned. The company has over 90 locations in ten countries, in Austria, in east and South-east Europe as well as a concrete factory in Saudi Arabia. The company employing 2250 persons gained an annual turnover of approximately 300 million Euro last year.  240 million Euro have been allotted to the building material sector, while the remaining 60 million Euro are from the activities of the family company in the recycling and waste sector, tourism sector and real estate projects.