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News Oyak buys InterCement operations in Portugal and Cape Verde

Oyak buys InterCement operations in Portugal and Cape Verde

Written by Global Cement staff 29 October 2018
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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 dependent 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.

Last modified on 31 October 2018
Published in Global Cement News
Tagged under
  • Brazil
  • Portugal
  • Cape Verde
  • Turkey
  • Intercement
  • Acquisition
  • OYAK
  • Cimpor
  • Camargo Correa
  • GCW377

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