Kakanj Cement Factory annual meeting of shareholders Business model of continuous growth

11. May 2016by ficba

At the General Assembly meeting (GA) which was held on 9 May 2016 in Kakanj, shareholders of the Cement Factory Kakanj adopted the annual business report of 2015, the reports of the Supervisory Board, the Audit Committee and the independent auditor’s report.

In 2015, Kakanj Cement Plant achieved a sale of 426,000 tons of cement, while operating profit amounted to 13.7 million. The GA decided that total profit in 2015 will be paid to shareholders through dividends in the amount of 1,45 KM per share. During the presentation of results, director Mr. Branimir Muidža, pointed out that the Cement Factory operated stably in spite of very difficult and adverse business conditions and trends, and that the sales and financial results are a lot better than the previous year. “We are particularly proud that our business model shows stable in difficult economic conditions, as evidenced by the continued positive results and new investments. Despite all the obstacles set by the challenging economic environment, Kakanj Cement Plant with associated companies managed to generate growth in Bosnia and Herzegovina and in Croatia”, said Muidža.

Kakanj Cement Factory continues investing, and most of the investment is again directed to projects closely related to environmental protection and expansion of the business. “In order to maintain a high level of quality and market leadership, we continue to invest, which is a strategic factor in our long-term business planning and modernization of the factory remains our priority. Superior quality concrete is now available to our customers in two concrete plants in Sarajevo and Zenica, and our network of concrete plants now has six plants”, said Muidža. By installing new bag filters on cement mills Kakanj Cement Factory continues with the reduction of all types of emissions. It is also working intensively on the design of new plants for the use of alternative fuels, due to the necessity of reducing CO2 emissions.

Shareholders also elected a new Supervisory Board members: Janos Szarkandi, CEO of Duna-Drava Cement, Gerhard Hirth, general manager Schwenk Group, and Albert Scheuer, a member of the Management Board of HeidelbergCement Group.

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