CarpatCement turnover up 37%

CarpatCement Romania (through its three divisions – cement, concrete and aggregates) posted 44m-euro turnover in H1 this year, up 37.5% from the year-ago period, mainly due to the acquisition of cement plant Romcif Fieni. CarpatCement Romania is the local branch held by the German construction materials group HeidelbergCement. Romcif was taken over last fall under a $70m acquisition that saved the Q1 financial results of the German operator. The cement industry posted 30-40% losses in the first quarter, because of the long winter. “We estimate cement sales to increase 5-7% in Romania, as compared with 2002,” said Mihai Rohan, general manager of CarpatCement Romania. ZF