Swiss CemIn West acquires 96.6% of Ivano-Frankivskcement

Switzerland-based CemIn West SA has bought a 96.6 per cent in Ukraine’s Ivano-Frankivskcement, according to the target company.

The majority holding was bought from Cyprus-based Permixo Ltd, Basmaren Enterprises Ltd and Prenters Engineering Ltd, which sold their respective stakes of 36.98%, 20.76% and 13.3% in the Yamnitsa-based entity.

Ivano-Frankivskcement closed 2013 with a net profit of UAH130.3m (US$8.2m).