ARMENIA: RATM TO ACQUIRE PLANT MIKA-CEMENT
ESMERK
Vedomosti Sibir
August 19, 2008 Tuesday
The Novosibirsk holding RATM (Siberia) plans to acquire the cement
plant Mika-Cement in Armenia. The holding is expected to buy from 75%
plus one share to 100%. The sum of the deal is not disclosed. According
to analysts, 100% of the plant cost from US$ 60mn (EUR 38.48mn) to US$
120mn. RATM intends to invest US$ 15-17mn to modernize the new asset
till summer 2009. The second production line, idle for ten years,
is to be launched at the plant. This will allow the enterprise to
reach the designed capacity of 1.2mn tons.
Acquisition of the Armenian plant is in line with the strategy of
RATM development envisaging increase in the total production of
cement by the enterprises of the holding to 10mn tons per year by
2014. The program also provides for construction of new enterprises,
US$ 2bn to be allotted by RATM for these goals.