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HeidelbergCement expects 114m euros

HeidelbergCement expects 114m euros
12.02.2003, 00:00 5

German construction materials producer HeidelbergCement estimates to have made 3,000bn ROL (114 million euros) turnover in 2002, with profits amounting to 5% of turnover, that is 150bn ROL (5.7 million euros). The company has thus exceeded its 100 million-euro turnover expectations.
The Germans last year doubled their revenues on the Romanian cement market, reaching about 95 million euros, following the takeover of Romcif Fieni, which turned them into domestic market leaders with about 35% in market share.
"We set out to attain a 15%-18% higher ROL turnover for HeidelbergCement in 2003, that is about 115-118 million euros. The German group invested 6 million euros last year and has scheduled another 10 to 12 million for 2003, 5 million euros of which will go to the latest addition to the group, Romcif Fieni," Mihai Rohan, general manager of CarpatCement told Ziarul Financiar. CarpatCement is the company co-ordinating the business of the German group on the Romanian market.
HeidelbergCement is the largest German investor in Romania, having already invested more than 200 million euros by the end of last year, that is about one quarter of the total German investments in the country.
The domestic cement market, estimated at some 230 million euros last year, is divided among three major international groups, each of which holds three factories and about one third of the market: HeidelbergCement (Moldocim Bicaz, Casial Deva, Romcif Fieni), Holcim (Alesd, Turda and Campulung-based plants) and Lafarge (Medgidia, Hoghiz and Targu Jiu-based factories).
Sales on the domestic cement market are estimated at approximately 4.5 million tonnes in 2002, up 5% from the previous year. On the other hand, preliminary estimates show the Romanian cement exports revolved around 1-1.2 million tonnes last year.