Cement News tagged under: Mika Cement
Hrazdan cement plant faces closure06 April 2015, Published under Cement NewsHrazdan cement plant, Armenia, has an outstanding debt of AMD509m (USD1.08m) owed to the tax authorities and faces closure, according to plant manager Naira Martirosyan. Over 2008-14, the plant paid AMB2.9bn in various taxes, but the sharp decline in domestic consumption and problems with exports resulted in serious losses and failure to service debts. The Hrazdan cement plant was commissioned in 1970, selling its products both at home and in Georgia and Russia. In the 1990s the plant stoo... |
Mika stops production until February 201513 November 2014, Published under Cement NewsArmenia-based Mika Cement has said it will stop production until February 2015 to undertake scheduled maintenance, saying it has achieved its planned output and has sufficient sales stock until operations resume. The company said in a press release that the plant, situated in Kotayk province, is usually brought to a halt at this time of the year for maintenance work. Operations will be restarted as usual in February 2015 before the start of Armenia’s construction season, it added. Mika Cem... |
Mika Cement resumes production, Armenia13 October 2014, Published under Cement NewsArmenia-based producer Mika Cement, which has not functioned since April 2014, has resumed production having paid off its main debts. Naira Martirosyan, director of the plant told Arminfo, that production restarted at the end of September. "We paid off the main debts on salary and electric power and at present we have been paying off the current debts," she said. She further added that production is in full swing, and output is expected to reach 100,000t by year-end. While most of the out... |
Armenia: Mika Cement finds buyer13 June 2014, Published under Cement NewsRussia-based Armenian businessmen are said to be poised to buy Mika Cement plant, according to the Zhghovurd newspaper. The cement plant was owned by Mikhail Baghdasarov but was mortgaged to VTB Armenia Bank last November having been pronounced bankrupt in June 2013. Serob Sharoyan, the plant's technical department manager, is expected to be appointed the new director of Mika Cement, said the local paper. |
Mika Cement to resume operations, Armenia09 September 2013, Published under Cement NewsArmenia-based producer Mika Cement plans to resume operations, having been idle for a year. The kiln will be launched on 10 September 2013, plant director Naira Martirosyan told Arminfo. The 1.2Mta cement plant, situated in the city of Hrazdan, has been shut down since September 2012. The plant has been able to resume operations following a loan it recieved from VTB Bank (Armenia) in July this year. The bank allocated funding so the cement producer could fulfill its loan commitments, inclu... |
Arat Cement net loss, Armenia25 July 2012, Published under Cement NewsArmenian cement producer Arat Cement reported a net loss of AMD1.079bn (US$2.6m) compared to net profit of AMD521m in 2010. According to local press reports, the company is idling operations due to economic reasons. The construction sector has not yet recovered from the 2009 economic crisis and is still suffering declines. Last year, cement production fell 13.4 per cent YoY to 422,200t. Arat Cement operates a dry-process facility close to the Turkish border with a nominal capacity of 1.2M... |
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