|
contents | business | |||||||||
| Cimpor acquires Peruvian cement company Cimentos de Portugal, SGPS, S.A., (Cimpor), Portugal's top cement maker, through its subsidiary Cimpor Inversiones, S.A., has acquired, within a share capital increase operation, an 80% participation of Cementos Otorongo, S.A.C., a company governed by the Peruvian law, for the amount of Nuevos Soles 57 million (around EUR 12.8 million). Cementos Otorongo, S.A.C. holds a set of mining concessions with sufficient and adequate raw materials for the production of clinker and cement, developing presently a project to build an integrated cement plant. The new plant, for which an USD 125 million investment requirement is estimated, will operate an annual cement production capacity of 650,000 tons, equivalent to 10% of the total cement consumption in Peru. write your comments about the article :: © 2007 Construction News :: home page |