Bloomberg News

Russian Cement Billionaire Filaret Galchev Has Greek Citizenship

October 10, 2011

Oct. 10 (Bloomberg) -- Eurocement Holding AG, Russia’s largest cement producer and owner of a 10.1 percent stake in Holcim AG, said billionaire chairman and main shareholder Filaret Galchev holds dual Greek-Russian citizenship.

Galchev, 48, ranked 31st richest among Russian billionaires by Forbes magazine with a fortune of $3.5 billion, is known as Filaretos Kaltsidis in Greece, Eurocement said in a statement.

Eurocement has capacity to produce as much as 38 million metric tons of cement currently and plans to expand capacity to 50 million tons by 2015, the company said in its statement. Eurocement plans to spend $1 billion on the development of its ready mix and aggregate businesses, it said.

--Editors: John Viljoen, Tony Barrett

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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