Russian Firm Buys Uzbek Cement Factory

(RFE/RL) TASHKENT, August 22, 2006 (RFE/RL) -- Uzbekistan's state-controlled media today confirmed reports that Russia's Eurocement Group has acquired 75 percent of Ahangarantsement, the country's second-largest cement factory.

Vesti.uz reported that officials at Ahangarantsement have refused to divulge the terms of the deal.

Talking to RFE/RL's Uzbek Service, Eurocement Group spokesman Sergei Meshcheryakov confirmed the deal. But he, too, refused to elaborate.

"Usually one does not divulge details of that kind of deal," he said. "I can only confirm that the deal is completed and we bought a stake in Ahangarantsement, which is located in Uzbekistan's Tashkent region."

Meshcheryakov said part of the cement produced at Ahangarantsement would be exported to neighboring Kazakhstan.

News of the transaction was first reported on August 21 by Russia's Interfax news agency.

Before the new deal was sealed, the main shareholder in Ahangarantsement was Zeromax GmbH, the Swiss-registered subsidiary of the U.S.-based Zeromax Group.

Zeromax GmbH is one of Uzbekistan's leading industrial investors.

(vesti.uz, Interfax, uzmetronom.net)