Suez Cement Company is expanding its investments in the cement industry and its related industries as it signed a preliminary agreement to purchase 52 per cent in two ready-mix companies.
The Egyptian company, 51 per cent held by Ciments Francais, said in a statement for Cairo and Alexandria Stock Exchanges (CASE) from June 7, 2006 that it has signed a preliminary agreement to purchase stakes in producers RMB and RMBE at a cost of E£78m (US$13.5m).
The two companies account for an estimated 30 per cent of the total ready-mix concrete production in Egypt.
