Holcim Slovakia

The board of directors of the largest cement producer in Slovakia, the joint-stock company Holcim (Slovensko) proposed not to pay dividends from last year’s profit. The board of directors proposed to reinvest the profit of the company of SKK 111.12 million to support shareholders’ equity, said communication manager of Holcim Marek Michlik. The company’s profit decreased in 2003 compared with the previous year, while acquisitions of three concrete mixing plants and a merger with Holcim Beton a.s., were the most significant factors behind this drop. Holcim’s turnover increased in Slovakia to SKK 3.4 billion last year.

An investment of over SKK 2 billion into the modernization of a kiln influenced the financial result as well. The company will finish the project in the middle of 2004 and its result will be a significant decrease of energy consumption and higher effectiveness of production Total ecological investments in the plant of Rohoznik exceeded SKK 60 million last year.