19 August 2007
Suez Cement Company, the country's largest traded cement firm, has agreed to buy 47 per cent of Kuwait-based Hilal Cement Company to expand in the Gulf region.
Suez Cement Company, the country's largest traded cement firm, has agreed to buy 47 per cent of Kuwait-based Hilal Cement Company to expand in the Gulf region.
Suez is buying the stake from Boodai Enterprise at a price that values Hilal at $89 million (Dh327m).
Hilal is the third-largest cement company in Kuwait, with about 17 per cent of the market. It sold 736,000 tonnes of cement last year and had sales of $65m (Dh238m).
© Emirates Today 2007
