Signing of Agreement with Italcementi SpA

Vassiliko Cement Works Public Company Ltd announces that the existing agreement between the Company and Italcementi SpA for the provision to the Company of technical and consultancy services has been renewed.  The services provided to the Company, amongst others, include technical support to improve quality and reduce production costs, the preparation of techno-economic studies, the promotion of best available technologies, the use of alternative sources of energy and the development of new products.

The period of the agreement is for two years commencing on 1/1/2014 and ending on 31/12/2015.  The cost of the services provided is €450.000 for 2014 and €480.000 for 2015.  The cost of above services is considered to be at arm’s length.