The Croatian unit of Holcim Group said on Thursday it has fully acquired local gravel and sand quarry IGM Kamenolom Ocura from construction materials producer IGM Lepoglava for an undisclosed sum. "With this acquistion Holcim enters the aggregates business segment in Croatia," Holcim Croatia said in a statement.

It added that IGM Kamenolom Ocura will be renamed to Holcim Mineralni Agregati in the middle of February and will continue to operate as a fully-owned subsidiary of Holcim Croatia.

Holcim Croatia said last month it planned to invest 37 million kuna (US$6.1m) this year, mainly in the modernisation of its production facilities. Holcim Croatia runs two cement factories, six plants for ready-mixed concrete, and four shipping terminals in the Adriatic country. Its annual cement production capacity is 900,000t. The company employs more than 240. Last year it invested 130 million kuna in a new cement plant and another 13 million kuna in a greenfield project to build a concrete factory.