Portuguese cement company Cimpor may buy companies in China, India and Latin America

28 April 2006

Lisbon, Portugal, 28 April – The growth strategy of Portuguese cement company Cimentos de Portugal (Cimpor) includes making acquisitions of controlling stakes in companies located in China, India and Latin America, the company’s corporate center director, João Salgado said in Lisbon Thursday.

The company’s strategy is to buy 6 million tons of production capacity every five years, Salgado told journalists after the II Mergers and Acquisitions Conference organized by Portuguese financial newspaper, Diário Económico.

Salgado said that Cimpor had been analyzing the possibilities of a partnership with a Chinese company for over a year , but also had an eye on India and Latin America.

Salgado said that Cimpor did not need to carry out a capital increase in order to follow through with its investment plans, saying that the company’s debt capacity was large. (macauhub)