Cement firm Holcim will be taking over Bogaz Endustri Madencilik (BEM) in Northern Cyprus. Located near Famagusta, BEM operates a grinding station with an annual capacity of 150,000 tons of cement, stated a press release.
The acquisition of BEM will establish Holcim as market leader in the northern part of the island, opening opportunities for cooperation with existing projects in the region.
Holcim's annual cement production capacity is 1.7 million tons. In 2002, BEM reported sales of $7.2 million on deliveries of 125,000 tons of cement. The company is operating at profit. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
