Privatized Cement Factory Doubles Production

The Africa Monitor reports:

After being privatized to a share company, the National Cement Factory(of Ethiopia) has doubled production and works are underway to open another plant, according to the company's representative.Found inefficient and bankrupt, the 70 year old company was put under the management of the Mugher Cement Factory, before its 80 percent share was finally sold out to the East Africa Group in February 2006, as per the country's privatization policy.The Governmental maintains ownership of the remaining 20 per-cent.