HeidelbergCement Georgia reports record sales

HeidelbergCement Georgia reports record sales
30 June 2016

For the year 2015 HeidelbergCement Georgia experienced record sales, with 1.63Mt of cement and clinker sold. These sales figures were up 19 per cent on the previous year’s result.

With this growth in sales the company holds a 60 per cent share in the Georgian cement market.  Director of Construction Materials, David Jugashvili said, “The recent economic changes and devaluation of the national currency have influenced the construction market in Georgia, causing certain risks for market players. However, HeidelbergCement managed to overcome these difficulties, and has maintained stable growth, due to its customer-oriented approach on one side and offering high quality products and services on a stable basis, on the other.”

HeidelbergCement Georgia plans to invest US$100m in a new production line is Kaspi, using a dry process which will substantially lower production costs. With this, the company expects to be able to reduce its prices for cement products.

The new investments will raise total investments to US$400m in Georgia. HeidelbergCement Georgia’s income represents two per cent of the group’s total revenue.

Published under Cement News