OAO Minsk Silicate Materials Plant will be incorporated by the Belarusian Cement Plant (Kostiukovichi, Mogilev region) in accordance with resolutions made by shareholders of both companies.
The parties are expected to finalize the merger by December 2016.
Besides, the Belarusian Cement Plant will increase its statutory capital by issuing 287,227 supplementary shares with a face value of Br10 ($5.18), which will be transferred to the state. Thus, the state-owned stake in the cement company will grow to 99.46% from 99.45%.
The Belarusian Cement Plant has been operating since September 1996.
Founded in 1895, Minsk Silicate Materials Plant is Belarus’ oldest manufacturer of construction and insulation materials. (Prime-TASS/Business World Magazine)
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