The President of the Dominican Republic, Mr. Medina Sanchez, inaugurates the new mill at the Domicem factory.

Domicem, the Dominican subsidiary company of the Financo Group - Colacem, has inaugurated its latest generation mill for the production of raw materials in its cement factory in Sabana Grande de Palenque (San Cristobal), in the presence of the President of the Dominican Republic, Mr. Danilo Medina Sanchez.

The new mill (Loesche GmbH), which entailed investments for over 900 million Pesos, will allow them to reduce electricity consumption by about 35% and to increase production capacity by over 10%. The new mill implementation work has been carried out in 15 months and is part of the company expansion plan, aimed at reaching higher efficiency in the Dominican Republic and the Caribbean.

Mr. Giovanni Colaiacovo, Colacem President, in greeting the audience and their Dominican partners, dedicated a heartfelt thought to the dearly departed Don Gianni Vicini, " a man who had always believed in this Italian-Dominican business partnership, and who was a very good friend of mine. We are entrepreneurs. We work hard in order to always be the best performers in the reference markets . We look towards the future, as this is the only way for us to contribute to the common good ".

Mrs. Francesca Colaiacovo, Financo Group President and Domicem shareholder, underlined "the particularly positive scenario for investments in this country which, along with its strategic position in the Caribbean, are motivating us to keep investing in the Dominican Republic, which represents our operating base for the Group expansion and growth throughout the area. My father Pasquale has been committed to this challenge since the very beginning, and has lived it in a particularly emotional way. This is much more than a cement factory: it is a "precious jewel " that has a soul.

It is the result of the dedication of many people who, thanks to their skills, expertise and professionalism , have contributed and contribute every day to the creation and realization of something that began as just a project on paper.". Mr. Osvaldo Oller, Domicem Executive Vice President , detailed the investments the company has made so far in view of a sustainable development of the community of Palenque. The project has been carried out by Colacem New Plants Technical Direction , in Italy, which put their year long experience in the construction of new cement factories to good use.

The entire project has utilized the most advanced technology available, with a special focus on energy saving. All of the raw materials, means of transport and finished products, as well as all the gas ventilators, were installed with Siemens branded frequency converters.

LED lighting has been installed, and all of the project support systems have been implemented with energy saving in mind, which is expected to be about 35%.

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