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Al-Maal , Egypt.
10/1/2009 12:00:00 AM
The regional expansion is the slogan of ASEC CEMENT

Mr. Giorgio Bodo, the CEO of ASEC CEMENT  during the workshop held by Citadel Group, during the Euro money conference, focused on the coming investment map, and added that the Algerian market will expected to represent a dominant ratio of the company income resources during the coming 5 years, especially the company finishes 44% of Zahana project, although the difficulties that faces ASEC, Mr. Bodo expected that the company will achieve a growth of 50%, net income will reach 680 million USD by 2015, the company aims to penetrate new markets in Ethiopia, Libya, Iraq, in addition to Egypt, Algeria, Syria, and Sudan, since Citadel acquired 54% of ASEC in year 2006, they were able to compete in the local market as well as South Africa and Middle East.

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ASEC CEMENT is a platform for investments in emerging cement markets in the Middle East and North Africa Region and was created in November 2005 by Citadel Capital, the MENA region’s leading private equity firm

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