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Supervisory board of Azerbaijan's largest cement plant to be changed

Business Materials 18 April 2011 15:08 (UTC +04:00)
The composition of Garadagh Cement's Supervisory Board will be reviewed at an annual general shareholders meeting.
Supervisory board of Azerbaijan's largest cement plant to be changed

Azerbaijan, Baku, April 18 / Trend N. Ismayilova /

The composition of Garadagh Cement's Supervisory Board will be reviewed at an annual general shareholders meeting.

According to the information, the question of replacing supervisory board member Tim Zurun with Kamran Abbasov will be considered at a meeting in Baku on June 8.

The meeting's agenda also includes approving report and audits for 2010.

The company's current shareholders are five legal entities and 879 physical entities. Holcim Ltd owns 66 percent stake, Azerbaijan Investment Company - 10 percent, European Bank for Reconstruction and Development - 10 percent, Holcim Auslandbeteiligungs GmbH - 3.39 percent. Azer Invest - 0.26 percent, and the remaining 10.35 percent are owned by physical entities.
Garadagh Cement is the only clinker and cement manufacturer in Azerbaijan.

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