Major Cement Company Increases Prices
Azerbaijan, Baku, 2 May / Trend / Garadagh Cement is to increase its product prices by 6.4% as of 1 May 2008. This is in line with the drastic price increase (about 50%) of an essential raw material - volcanic sand - which is used in cement production, the company announced.
The material is supplied mainly from western Azerbaijan (Agstafa and Tovuz regions) and in March 2008 the suppliers notified Garadagh of this price increase.
Despite significant price increases, there are still certain logistic issues related to the continuous supply of this material to Garadagh Cement OJSC. The shortage of supply may lead, in an extreme case, to cement production being stopped at Garadagh, the official statement said.
During the first four months of 2008 Garadagh Cement produced approximately 350,000 tons of cement and had a domestic market share of about 33% during this period of this current year.