"Holderbank" Financière Glaris Ltd. ("Holderbank") will expand activities in Southeast Europe. Under a lease negotiated with the United Nations Interim Administration Mission in Kosovo (UNMIK), "Holderbank" will assume operative management of Sharr Cement. UNMIK had put out an international tender for a lease under its privatization program for Kosovo.
Located in Hani i Elezit close to the Macedonian border, the Sharr plant has an annual capacity of 0.6 million tonnes of cement. However, production levels are currently at less than 0.3 million tonnes per annum. "Holderbank" has undertaken to invest a total of DEM 34 million in plant refurbishment, environmental protection measures, and a health and safety program in the immediate future. With annual cement demand running at some 1 million tonnes in Kosovo and likely to remain at such levels over the next few years, the goal is to bring the plant back up to full capacity as soon as possible. All jobs are secure, and employees will be given a 20 percent stake in the financial success of the company.
With majority and minority interests in 70 countries on all continents, "Holderbank" is one of the world's leading suppliers of cement, as well as aggregates (gravel and sand), concrete and construction-related services.