Holcim sees Eurocement's stake as friendly

Recycling

Holcim Ltd, the world's second-largest cement maker, views Russian cement maker Eurocement Group's purchase of a 6.5% stake as friendly, the Swiss-based company said.

“We assume this is a friendly approach and that this is a long-term investment,” a spokesman for Holcim said.

Privately owned Eurocement is Russia's largest cement group.

Eurocement was not immediately available for comment.

The Russian group operates cement plants in Russia, Ukraine and Uzbekistan, as well as concrete mix plants, concrete goods plants and aggregates-mining quarries, according to its website.

Last week, shares in Holcim rose over 10% on speculation that a Russian investor was building up a stake in the group, which competes with France's Lafarge SA. (Reuters)

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