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Investments worth four million euros, at Lafarge Romania

Lafarge Cement has invested around four million euros in the building and commissioning of transformers at its cement mills in Romania, with the projects expected to lead, when ready, to a cut in electricity costs of more than 5.5 million euros, annually, writes daily Business Standard.

The investment will be carried out at the three cement plants of the French group, in Romania, at Medgidia, south-east, Hoghiz, center, and in Targu Jiu, south.

The projects also target an increase in safety.

Lafarge Cement has invested 2.32 million euros in a new technological line, with a view to increasing the supply capacity of cement in sacks, up to 4,000 tonnes daily, reads a press release from the company.

Lafarge Romania announced a cut in costs by 120 million euros by the end of next year, as part of a new programme of cost cuts, worth 400 million euros, for a period of three years, between 2009 and 2011. This programme continues the programme of cuts in costs run between 2006 and 2008, and it is to exceed the level of 400 million euros at the end of this year.

French group Lafarge is present in Romania by the divisions Aggregates Concrete, Cement, and Plaster Board Recently, Lafarge Aggregates Concrete increased a loan from the main shareholder, Lafarge Cement (Romania), from 70 million lei to 100 million lei, the equivalent of 25.7 million euros. The contract between the two companies is without guarantees, it expires on June 27, 2009, and has an interest at the level of the reference rate of Romania's Central Bank, BNR.

In 2007, the company's total turnover, from the activity in Romania, of its three divisions, stood at 400 million euros.

 

Sursa: http://www.rompress.ro

Tags: million euros romania lafarge cement bnr

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