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| HeidelbergCement increases holding in Russian cement company Germany's HeidelbergCement has increased its holding in the Russian cement company CJSC "Construction Materials" from 51% to 100%. The parties have agreed not to disclose the purchase price. The purchase of the stake is included in the HeidelbergCement capital expenditure plan. CJSC "Construction Materials", located in Sterlitamak, is the market leader in the Russian republic of Bashkortostan and one of the leading cement producers in the Wolga area with about 760 employees. The company has a total annual cement capacity of 1.8 million tonnes and operates among others a dry process kiln meeting the highest efficiency and environmental standards in Europe. HeidelbergCement acquired a 51% stake in the Russian cement company in the fourth quarter of 2010. write your comments about the article :: © 2013 Construction News :: home page |