Heidelberger raises RI stake

BRUSSELS (Dow Jones): The chairman of German cement company Heidelberger AG, Rolf Huelstrunk, said Friday the company would take a decision on increasing its stake in Indonesia's PT Indocement Tunggal Prakarsa by December.

"We are already in negotiations with Indocement. If the negotiations come to a fruitful conclusion we have the funding available," Huelstrunk said.

He said negotiations wouldn't only depend on the agreement of Indocement shareholders, but also on the political situation in Indonesia.

Heidelberger intends to focus on enlarging its presence in the Asian markets.

"In the near future, 60 percent of world cement demand will be generated in Asia and we intend to strengthen our somewhat marginal position there," the chairman said.