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Orascom Cons. Inds. - OCI Expands Aggregates Ops.
(From AFX CNF)
RNS Number:2874S Orascom Construction Inds, S.A.E. 04 March 2007 NEWS RELEASE OCI Expands Aggregates Operations in Europe Group GLA acquires 100% of aggregate operations to raise Group's Spanish reserves by 43% Cairo, Egypt - 4 March 2007: Orascom Construction Industries announced that Group GLA - 50% owned by OCI - has signed an agreement for a total value of EURO 17.4 million for a 100% stake of Minas Nieves in Corrales de Buelna and for the acquisition of Minas Cau, a quarry operation in Yecla. Combined, the two quarry operations are expected to produce close to 0.8 million tons after the take-over is complete. Group GLA is the largest independent aggregates and ready-mix concrete producer in Spain. OCI acquired …
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