St. Lawrence Cement opts not to construct cement plant in Greenport (USA)

25 April 2005
 
  • St. Lawrence Cement opts not to construct cement plant in Greenport (USA)
  • Locally accrued project costs will not impact on Holcim Group's current financial statements

 

Following the negative decision by the New York State Department of State (DOS), the board of directors of the Canadian Holcim Group company has decided not to pursue the project to build a new cement plant in Greenport, New York State. The company will continue to produce and distribute cement for the market region New York from Catskill, located only a few kilometers from the planned new cement plant. According to a media release issued by St. Lawrence Cement, the accrued project costs of CAD 37 million will be written off in the second quarter of 2005.

Provisions for these project costs have already been made in the Group's financial statements and will therefore have no influence on Holcim's current financial statements in 2005.

 

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Holcim is one of the world's leading suppliers of cement, aggregates (crushed stone, sand and gravel), concrete and construction-related services. The Group holds majority and minority interests in more than 70 countries on all continents.
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