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Sibtsement and Rostekhnologii planning joint cement holding


2010-07-13

Sibtsement and Rostekhnologii are planning to create a joint cement holding. Sibtsement intends to contribute three of its deposit fields, and Rostekhnologii to invest money in return for a 25% stake in the company.
Russian government departments and the Federal Antimonopoly Service (FAS) have opposed the transfer of government owned assets, including shares in Iskitimtsement, to a joint cement holding. The Finance Ministry has decided that such a holding is unlikely to become commercially viable, and the FAS claims that it would undermine market competition in Siberia.

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