Macedonia’s Ading to Build 1.5 Mln Euro Concrete Admixture Factory in Iran

Drafting the main project for the factory is underway, Ading said in the statement posted on its web site. The factory will be built on 1,200 square metres in the Iranian capital's industrial zone and is expected to be put in operation by the end of 2010. It will employ 25.

The factory’s installed capacity is set at 80,000 tones per year, of which concrete admixtures will account for 90%. The remainder will be powder and paste products. In the first year of operation, the plant plans to sell 7,000 to 10,000 tonnes of products, the statement said.

Earlier this year, Ading opened a 400,000 euro production unit in the Bulgarian town of Pernik, 30 kilometres south of capital Sofia. The Macedonian company is also active in Serbia, Kazakhstan, Greece, Romania, Ukraine, Montenegro, Hungary, Bosnia and Albania.

Ading (www.ading.com.mk) was established as a state-owned company in 1969 and went into private ownership in 1996. The company has a core capital of 3.9 million euro.

($=0.6686 euro)