Serbian cement producer Novi Popovac changed its name to Holcim Srbija following a change in its ownership structure. 

Holcim acquired former Novi Popovac in April 2002 and under the terms of the purchase agreement the new owner pledged to invest a total US$85m (EUR68.9m). 

So far, US$53m of the agreed investments have been made and by the end of 2005 the invested funds will reach some US$70m, Holcim Srbija director general Darko Krizan said. 

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The 2004 output of Holcim Srbija stood at 766,119t of cement, against an annual capacity of 1.4Mt, Krizan added.