Moroccan cement plant reports us$ 199 mln in sales

Moroccan cement plant "Ciments du Maroc" reports a 1.99 billion DH (US$ 199 Mln) in sales in 2002, posting a 3% growth compared to 2001 and a net result of 409 million DH (US$ 40.9 mln), an increase by 11%.

The plant's president and CEO, Mohamed Chaibi told a meeting with a group of the Casablanca stock exchange financial analysts that last year was marked for the plant by the selling of 757,600 shares, representing 9.5% of the company's capital. He added that 2003 will be a promising year, mainly as Morocco has launched a program to build 100,000 low-cost houses and roads.

Given the high demand, "Ciments du Maroc" will consolidate its activities with 3 new units and the opening in south Casablanca of an aggregate quarry with a one million-ton capacity.