Russian ratm holding to purchase Armenia’s MIKA- Cement plant
19.08.2008,
22:06
The Russian giant RATM Cement Holding plans to buy the shares of Armenia’s MIKA-Cement Plant owned by Mikhail Baghdasarov, the Vedomosti reports.
YEREVAN, August 19. /ARKA/. The Russian giant RATM Cement Holding plans to buy the shares of Armenia’s MIKA-Cement Plant owned by Mikhail Baghdasarov, the Vedomosti reports.
The company will sum up its activities by August 20 and the deal will be signed within five banking days, Victor Belyayev, General Director of the RATM Cement Holding, has told RIA Novosti.
The Russian company made overtures for the agreement in June and Mikhail Baghdasarov approved the purchase agreement. RATM Holding is expected to control 75% plus one vote of MIKA Cement. Both parties do not plan to make public the total sum of the deal.
MIKA Cement produces 1.2mln tons of 400, 500 and 600 cement types. Last year the plant produced some 300 tons of cement. This year MIKA Cement plans to increase its output by 50 tons. The company export 40% of its products to Iran Georgia and Russia.
Belyaev said RATM plans to allocate some $17mln for reconstruction of one of its two plants to increase the output.
The Siberian giant also plans to supply the European part of Russia with cement and will become one of the principal investors of the 2014 Winter Olympics in Sochi. Belyaev believes MIKA Cement will produce over 10mln of cement by 2014.
Owned by RATM Holding, Siberia’s biggest plants Iskitcement last year produced 1.74mln tons of cement. RATM also owns Angarskcement, leading cement producer in Eastern Siberia, which produced 1mln tons of cement in 2007.
To raise its revenue target, the holding is negotiating with the Kazakh Caspian Resources (owns seven companies, including the Novokuznetsk Cement Plant) and studies Belarus market. In April, RATM started to construct a new plant (with 1.3mln tons of annual capacity) in the territory of Iskitcement, The new plant will operate in 2010.
RATM won a render on the exploration of the Bistrinsk mine (630 tons of limestone), paying 18mln Russian rubles. The company plans to build two plans in the European part of Russia, investing some $2mln for these projects, the Vedomosti reports. To attract investments, the holding has consolidated its companies and will issue its bonds next year. The company plans an IPO in 2010. Eduard Taran is 90% shareholder of RATM Holding, with the rest owned by Belyaev. –0--
The company will sum up its activities by August 20 and the deal will be signed within five banking days, Victor Belyayev, General Director of the RATM Cement Holding, has told RIA Novosti.
The Russian company made overtures for the agreement in June and Mikhail Baghdasarov approved the purchase agreement. RATM Holding is expected to control 75% plus one vote of MIKA Cement. Both parties do not plan to make public the total sum of the deal.
MIKA Cement produces 1.2mln tons of 400, 500 and 600 cement types. Last year the plant produced some 300 tons of cement. This year MIKA Cement plans to increase its output by 50 tons. The company export 40% of its products to Iran Georgia and Russia.
Belyaev said RATM plans to allocate some $17mln for reconstruction of one of its two plants to increase the output.
The Siberian giant also plans to supply the European part of Russia with cement and will become one of the principal investors of the 2014 Winter Olympics in Sochi. Belyaev believes MIKA Cement will produce over 10mln of cement by 2014.
Owned by RATM Holding, Siberia’s biggest plants Iskitcement last year produced 1.74mln tons of cement. RATM also owns Angarskcement, leading cement producer in Eastern Siberia, which produced 1mln tons of cement in 2007.
To raise its revenue target, the holding is negotiating with the Kazakh Caspian Resources (owns seven companies, including the Novokuznetsk Cement Plant) and studies Belarus market. In April, RATM started to construct a new plant (with 1.3mln tons of annual capacity) in the territory of Iskitcement, The new plant will operate in 2010.
RATM won a render on the exploration of the Bistrinsk mine (630 tons of limestone), paying 18mln Russian rubles. The company plans to build two plans in the European part of Russia, investing some $2mln for these projects, the Vedomosti reports. To attract investments, the holding has consolidated its companies and will issue its bonds next year. The company plans an IPO in 2010. Eduard Taran is 90% shareholder of RATM Holding, with the rest owned by Belyaev. –0--
