Carmeuse factories under the same umbrella

Belgium’s Carmeuse Group, one of the world’s top two producers of lime, will announce the establishment of Carmeuse Central Europe, based in the Netherlands, within two weeks. The new entity will be 75% controlled by Carmeuse Belgium, while the rest will be held by the European Bank for Reconstruction and Development (EBRD). It will also establish a branch in Romania, which will control four lime factories in Campulung, Deva, Brasov (the last two acquired last year and still not legally integrated) and Romcif Fieni (whose takeover from German HeidelbergCement Group is in progress). “The establishment of Carmeuse Central Europe and Carmeuse Romania SA has now reached an advanced stage. It will probably be completed by next week. The new Carmeuse Romania SA will be formed as a result of the merger. The factories bought last year (Deva and Brasov) will be absorbed, having operated as separate entities following the takeover, as will the lime factory in Fieni. We’ve notified the Competition Council of this move and are expecting a decision by May 26, 2004. Carmeuse Romania will then proceed to make acquisitions in the region, with targeted markets including the former Yugoslavia, Bulgaria, Ukraine and the Russian Federation,” sources close to the talks told Ziarul Financiar. ZF