Demand for cement boosts Holderbank profits

The cement maker, Holderbank, has posted solid annual results which show net profit for 1999 up 16.5 per cent to SFr795 million. Sales rose to SFr12.2 billion from SFr11.3 billion in 1998.

The cement maker, Holderbank, has posted solid annual results which show net profit for 1999 up 16.5 per cent to SFr795 million. Sales rose to SFr12.2 billion from SFr11.3 billion in 1998.

Deliveries of cement and clinker, a stony residue from a furnace, rose to 74.6 million tonnes from 64.8 million in 1998. Sales of gravel and sand increased to 84.9 million tonnes from 83.9 million.

The company, which employs 40,000 people worldwide, said the figures reflected a healthy market in Europe, North America and Latin America. Barring exceptional circumstances, the Glarus-based company said it expected further growth this year, based on the economic recovery in Europe and North America.

Holderbank added it anticipated increased demand for housing and infrastructure in emerging markets. Underlining this, Holderbank plans to double its cement capacity at a plant in Mexico and has acquired a 20 per cent stake in a Guatemalan cement producer.

Holderbank is one of the world’s largest cement producers and is active in 70 countries around the world.

swissinfo with agencies