Uzbekistan, Tashkent, July 31 / Trend D. Azizov /
"Eurocement Holding AG", which owns 83.9 percent of the Uzbek "Akhangarancement" cement plant, intends to increase its share in the company's authorized capital up to 100 percent, Uzbek media reported today.
According to the report, "Eurocement Holding AG" intends to purchase additional shares of "Akhangarancement" to the amount of 792,637 shares, amounting to 16.0814 percent of the company's total share capital.
Currently, Eurocement Holding AG's share in "Akhangarancement" is 83.918 percent (4.136 million shares). The other shareholders are physical entiries. The company's authorized capital hits 4.928 billion soums.
If a 16-percent package of shares is bought, the company will own 100 percent of the shares of the cement plant.
"Akhangarancement" company (Akhangaran city, Tashkent region), the second cement producer in Uzbekistan in terms of capacity, launched its activity in 1961. The production capacity is around 1.986 million tons of cement per year. The plant's share in the country's domestic market is about 30 percent. The products are exported to Kazakhstan, Kyrgyzstan and Turkmenistan.
The company's assets increased by 14.6 percent - up to 559.9 billion soums. The long-term assets increased by 13.7 percent - up to 356.948 billion soums in 2012. "Akhangarancement" reduced net income by 35.9 percent up to 70.069 billion soums in 2012 compared to the previous year.
Six cement plants with a total installed capacity of about seven million tons operate in Uzbekistan. The largest plants are "Kyzylkumcement" (3.08 million tons), "Akhangarancement" (1.9 million tons) and "Kuvasaycement" (920,000 tons). Around 72 percent of a total volume of the commodity output in the Uzbek construction industry falls to the share of cement industry.
According to the official statistics, the cement production increased by 1.3 percent up to 6.78 million tons in the country in 2012 compared to 2011.
"Eurocement Holding AG" is an international, vertically integrated industrial holding, one of the largest construction associations in the CIS. The holding specializes in the manufacture and sale of cement. As of April 2013, it united 16 cement plants in Russia, Ukraine, and Uzbekistan, the concrete plants, as well as the companies specializing in industrial construction.
The holding covers around 40 percent of the Russian cement market. It is one of the ten largest cement producers in the world.
The official exchange rate is 2.104.62 soums /$ 1 on July 31.