Chilean cement industry seen to register four per cent growth in 2005

Chilean cement industry is seen to register a growth of four per cent in 2005 in comparison with 2004, the general manager of the Chilean cement maker Polpaico, Oscar Parada.

Polpaico is controlled by Holcim. Polpaico will make investments totalling US$14m (€11.43) in 2005, Parada added. Polpaico has a market share of 34 pct on the local cement market at present.

The cement industry in 2005 is expected to be boosted by the growing cement demand in the country in the last few months. The profit of Polpaico stood at 5.232bn Chilean pesos (US$8.85m/€7.22m) in the first quarter of 2005, up 7.3 per cent YoY. Cement consumption in Chile rose 4.9 per cent YoY in 2004.