Sicim Constanta in the red

Harbour operator Sicim Constanta ended last year in the red, albeit its revenues in ROL increased by 18% from the previous year, keeping up with the inflationary rate, and the dollar stood still. Sicim logged $23,000 losses while turnover was of $2.5 million in 2003, compared with $25,000 net profit in 2002. Sicim operates a cement terminal in the Constanta Harbour, used 90% – the latest available data show, for the exports made by Lafarge Romcim’s Medgidia facility. The company is subject to an investigation commenced by the Competition Council last September, which is looking into the takeover of Sicim by Silotrade, a company initially held by the three cement producers in Romania, Lafarge (France), HeidelbergCement (Germany) and Holcim (Switzerland). ZF