Heracles Cement Closes Production Plant In Halkida

Heracles Cement announced the termination of operations of its production unit in Halkida, as part of a restructuring program of its production structure. The production unit in Halkida has been idle since July 2011. The production unit in Halkida was hit by a plunge in construction activity in Attica, with sales falling by 80 pct in the period 2008-2013. The company said it will seek every possible solution to minimize the effect of its decision to close down the unit to its 236 workers.

Trade unionists, reacting to the firm's decision, accused the French-owned company (the majority of its shares are owned by Lafarge) of engaging in "apparent blackmail" and alleged "profiteering practices".

According to a dispatch from the state news agency, the restructuring program aims to help the group deal more efficiently with the impact of a deep recession in the construction sector, safeguarding the viability of the company and of its growth prospects both in the domestic and external markets. Under the new structure, Heracles Cement will continue cement production from its two units in Volos and Evia, exploiting their comparative advantages, mainly their port facilities, to support the group's activities in Greece and in the wider Mediterranean region.