"Holderbank" plans to take over cement facility in Romania

21 September 1999

"Holderbank" Financière Glaris Ltd. ("Holderbank") has signed a letter of intent to acquire the Alesd plant of Lafarge Romcim S.A. in Romania.

Located in Transylvania close to the Hungarian border, Alesd plant is ideally positioned to complement operations at "Holderbank's" own facility, Cimentul SA, in Turda. Alesd's modern dry process plant boasts annual sales of some 450,000 tonnes of cement (including exports). With Alesd supplying almost 10 percent of Romania's market, the acquisition will essentially double "Holderbank's" market share in the country.

Following signing of an agreement, the transaction will require the approval of the state privatization and anti-trust authorities.

With majority and minority interests in over 60 countries on all continents, "Holderbank" is one of the world's leading suppliers of cement, as well as aggregates (gravel and sand), concrete and construction-related services.

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