Holcim strengthens market presence

13 October 2003
 

Holcim strengthens market presence in Eastern Mediterranean region: Takeover of Bogaz Endustri Madencilik in Northern Cyprus.
 

In order to strengthen the Group's market presence in the Eastern Mediterranean region, Holcim (Liban) S.A.L. - a Group company of Holcim Ltd - will be taking over Bogaz Endustri Madencilik (BEM). Located near Famagusta in Northern Cyprus, BEM operates a grinding station with an annual capacity of 0.150 million tonnes of cement and disposes of its own pier. In 2002, BEM reported sales of USD 7.2 million on deliveries of 0.125 million tonnes of cement. The company is operating at profit.
 

Holcim firmly believes that the construction industry in Cyprus has a strong potential thanks to projects to promote the tourist sector and expand the country's infrastructure. The acquisition of BEM will establish Holcim as market leader in the northern part of the island, opening opportunities for synergies with existing positions in the region.

 

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With majority and minority interests in more than 70 countries on all continents, Holcim Ltd is one of the world's leading suppliers of cement, as well as aggregates (gravel and sand), concrete and construction-related services.
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