Russian cement manoeuvres

Russian cement manoeuvres
Published: 12 May 2004

The Metallurg aluminium holding company (the Leningrad region) has sold its-owned Pikalevo cement plant. The Inteco company, owned by the Moscow mayor’s wife Yelena Baturina, was the buyer. In so doing Inteco may win the St. Petersburg cement market, 65 per cent controlled by Pikalevo Cement. Analysts value the cement maker at roughly US$100m.