Dontsement Increases Cement Production

In January-March, the Dontsement company (Amvrosiivka, Donetsk region, Ukraine) increased cement production by 54.4 per cent or 62,000t compared with January-March 2004, to a total 176,000t.  This was disclosed in a statement of the Ukrtsement association, which includes the Dontsement company.   Dontsement owns 6 cement kilns and has a total capacity of the plant of about 2Mt of cement per year.  

Dontsement was able to resume production after the Ukraina investment company, which is the financial recovery manager of Dontsement, purchased 75 per cent of the shares in the plant.   To enable it 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) issued a loan of EUR 5 million to Dontsement.   According to data of the Agency for Development of the Stock Market’s Infrastructure, Golden Gate Business, LLC owns 17 per cent of the shares in Dontsement.