According to reports, an Uzbek court has annulled Eurocement’s acquisition of Uzbekistan’s biggest cement producer, Akhangarancement. Eurocement acquired a 75% stake in the company in 2006.
The reports indicate that the Uzbek State Competition Committee filed a lawsuit last week and the court ruling was made on 21 July. It is suggested that there are plans to nationalise Akhangarancement. However, it is also reported that Eurocement will appeal the court ruling.
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In this World Cement Spotlight interview, David Bizley, Editor of World Cement, welcomes back Mr Hans Conrads, CEO and Owner of PROMECON, to discuss his new article in the September issue of World Cement.
Mikhailovcement saw an 18% y/y increase in cement output in the first half of 2014, while Nevyanskiy Cementnik recorded a 7% y/y increase in production in June 2014.
Eurocement has signed a contract with China’s CAMC Engineering Co., Ltd for the supply of equipment, design, installation supervision and training for the construction of a new cement plant in Uzbekistan.
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