Europe / Middle East / Africa
Using Cemex as an example
Apr, 05 2012
(Latvia) -- The successful development of construction supplies producer Cemex factory in Broceni (west-central Latvia) is a convincing argument that could be used when addressing global manufacturers and inviting them to establish production facilities in Latvia, Prime Minister Valdis Dombrovskis (Unity) pointed out during a meeting with Cemex management yesterday.
Dombrovskis lauded the company's resolve to continue investing in Latvia, expanding production and creating new jobs. Such investors are important partners for the government, and the Cabinet is ready to work jointly to solve key issues in the company's development, said the prime minister.
Today, Dombrovskis met with Cemex President of Northern Europe Division Ignacio Madridejos, Cemex President of Eastern Europe and Poland Division Rudiger Kuhn, Cemex Latvia CEO Enrique Garcia, lauding Cemex production facility's development in Latvia, writes LETA.
Cemex representatives informed the prime minister that the company has invested more than EUR 275 million (LVL 192.5 million) in the factory since its launch in 2009. In November 2011, the factory produced its one millionth ton. Around one-third of Cemex Latvia production is exported to Finland, another one-third – to Russia. The company's cement is also exported to Lithuania, Estonia and Belarus.
Siam Cement, Thailand's largest industrial conglomerate, forecast on Wednesday that its fourth-quarter net profit would rise from the third quarter as petrochemical strength offsets weakness in construction materials.
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