Serbian cement producer Novi Popovac changed its name to Holcim Srbija following a change in its ownership structure.
Holcim acquired former Novi Popovac in April 2002 and under the terms of the purchase agreement the new owner pledged to invest a total US$85m (EUR68.9m).
So far, US$53m of the agreed investments have been made and by the end of 2005 the invested funds will reach some US$70m, Holcim Srbija director general Darko Krizan said.
The 2004 output of Holcim Srbija stood at 766,119t of cement, against an annual capacity of 1.4Mt, Krizan added.
