The Heracles cement industry, a member of the Holcim group, plans investments of 600 million for the next four years 2024-2027, significantly increased compared to the period 2019-2023 which was 170 million euros.
The goal is the green transformation of the production process and its products, while the driving force is the ongoing large infrastructure construction program and the increase in construction activity that have already significantly boosted its figures.
“Greece has at least 10 years of strong infrastructure development ahead of it. The decisions of the Holcim group for the aforementioned investments are a vote of confidence in its subsidiary in Greece which, among other things, managed to survive the difficult years of the economic crisis, when the consumption of cement had decreased dramatically, due to a lack of construction material. Holcim is active in 19 European countries, including Greece, in which Heracles has a 47% share, being among the 6 to 7 largest ones,” the managing director of Heracles, Dimitris Hanis, said during a press briefing.
Based on the data provided by the management of Heracles, the turnover of the company rose to 370 million euros in 2022 from 220 million euros in 2019, while it is estimated that it will reach 420 million euros in 2023, 500 million euros in 2024. In 2030, it is expected to reach 800 million euros.
The development of the cement industry with the largest share in the Greek market (Titan’s share is between 35% and 37%, Halyps 7%-9% and imports mainly from Turkey 4%-5%) goes hand in hand with data on the total consumption of cement which this year is estimated at 3.7 million tons from 2.6 million last year. On average the cement market has been growing at a rate of 8% over the last years and according to the estimates of the management of Heracles the total consumption will move to the level of 4.5 million tons in 2027.
Accordingly, the company’s staff is also increasing, which currently numbers 950 people (from 617 in 2019) and will exceed 1,000 in the next period.
