Oyak buys InterCement operations in Portugal and Cape Verde

By On October 29, 2018

Oyak buys InterCement operations in Portugal and Cape Verde

Oyak buys InterCement operations in Portugal and Cape Verde Written by Global Cement staff

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Brazil/Portugal/Cape Verde/Turkey: Brazil’s InterCement has sold its operations in Portugal and Cape Verde to Turkey’s OYAK Cement for an undisclosed amount. The sale includes three integrated cement plants and two mills, with a total cement production capacity of 9.1Mt/yr, 46 concrete units, two dry mortar units, 17 quarries and a cement bagging plant. The completion of the agreement is d ependent on regulatory approval.

InterCement, part of Camargo Corrêa group, purchased a majority stake in Portugal’s Cimpor in 2012, including assets in Portugal and Cape Verde. It says it will allocate a portion of the net proceeds from the sale to reduce its debts. Following completion of the transaction the Brazilian building materials company intends to focus its cement business in South America and Africa. In these regions it holds 39Mt/yr of installed production capacity at 35 cement plants.

Published in Global Cement News Tagged under
  • Brazil
  • Portugal
  • Cape Verde
  • Turkey
  • Intercement
  • Acquisition
  • Oyak
  • Cimpor
  • Camargo Correa

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Source: Google News Portugal | Netizen 24 Portugal

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