Cimentos de Portugal sells quarries in Brazil

29 December 2015

The Cimpor – Cimentos de Portugal group Monday concluded the sale of two quarries located in São Paulo, Brazil, to Polimix Concret for 100 million reais, the group said in a statement.

In the statement, issued via the Portuguese Securities Market Commission (CMVM), the group controlled by InterCement, with 94.2 percent of the Brazilian Camargo Corrêa group, said the sale included real estate assets and the right to explore the quarries.

This sale joins other initiatives that the group has been taking in order to strengthen its capital structure and increase profitability in order to focus on its strategic development.

Ongoing initiatives include shutting down under-utilised plants, disposal of concrete plants in Brazil, the sale of non-strategic assets to adapt to new market environments, adjusting prices and products, cost reduction and expenses and redesigning the group’s corporate structure. (macauhub/BR/PT)