Ecuador/Peru: Peruvian cement producer Union Andina de Cementos (UNACEM) has completed the purchase of Lafarge's cement operations in Ecuador. "We are pleased with the closing of the transaction, which represents an important step in our growth strategy," said Carlos Ugás, managing director of UNACEM. The company closed the acquisition, which was initially announced in May 2014, for approximately US$517m. The deal involves the purchase of a 1.4Mt/yr cement plant located in Otavalo, in the north of Ecuador.
UNACEM completes Ecuador acquisition
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