Dontsement cuts output

Dontsement cuts output
Published: 20 January 2004

In October-December 2003, cement production company Dontsement (Amvrosiivka, Donetsk region) reduced its production volume by 17.5 per cent from July-September. According to Ukranian news sources, in October-December, the company cut the production of cement by 24.8 per cent compared with July-September, or by 44,700t, to 135,900t.  In October-December 2002, the plant was standing idle.  "Production was reduced... One kiln has been working since November.... Another was closed for repair," the source said.  In all, in 2003, after resumption of production in April, Dontsement produced 407,000t of cement.  To be able to resume production, Dontsement attracted a loan of UAH 7.5 million from Golden Gate Business, LLC (United States) in February 2003. Golden Gate Business, LLC became one of the major owners of the plant. Earlier, in summer 2002, Raiffeisenbank (Ukraine) also issued a loan of EUR 5 million to Dontsement.