Vassiliko production capacity to increase

The production capacity of Vassiliko Cement Works (VCW) is set to increase with the addition of a new clinker production line is expected to operate fully by mid-2010. The Company’s CFO G. Savva stated that the new VCW’s production capacity would increase to 2.4mln tons of cement (corresponding to 2.0mln tons of clinker) per year from the current 1.85mln tons of cement.

The cost of the new production line is estimated to exceed EUR 130mln, whilst the new production line is expected to bring further cost containments and cost synergies to the Company. The Company’s BoD will convene on 27 February 2008 to examine its preliminary FY07 which will be announced on 28 February before market opening. VCW recorded a net profit of EUR 18.7mlnin 2006 yielding an EPS of EUR 0.348, whilst until 9M07 the Company posted a net profit of EUR 11.8mln.