Sales fall at Gresik Indonesian cement maker

Sales fall at Gresik Indonesian cement maker
Published: 09 December 2003

PT Semen Gresik said Tuesday cement sales for the first ten months of this year fell 4.6% on year to 11.83 million metric tons due to a drop in exports. Semen Gresik's domestic cement sales during the period were unchanged at 10..1 million tons, but exports slumped 26% to 1.7 million tons, from 2.31 million tons a year earlier. Gresik didn't offer any comment on its sales performance. Semen Gresik is 51% owned by the government and 25.53% owned by Cemex.

 

According to data from Indonesia's cement producer association, national cement sales for the first ten months of this year dropped by 1.7% to 29.43Mt, from 29.95Mt a year earlier. Meanwhile...State Minister for State Enterprises, Laksamana Sukardi, said the government will have no fund to acquire the 25 per cent stake of Cemex in state-owned cement maker PT Semen Gresik. In a bid to settle the dispute in Semen Gresik, the Mexican cement giant proposed a solution that the government acquires the 25 per cent stake of Cemex SA or Cemex buys the remaining 51 per cent stake of the government in the country's largest cement producer. Cemex has been reported planning to file arbitration proceedings against the government for failure to settle the dispute.