Cimentos de Portugal, SGPS, S.A has sold two quarries (Guarulhos and Barueri) in the State of São Paulo (Brazil), to Polimix Concreto, for 100 million reais (approximately €23 million).
The sale of these quarries follows the sale of a minority stake in Paraguay disclosed on 22 December, and is part of a set of initiatives the company has been putting forward, aimed at strengthening its capital structure and increasing profitability, and therefore focusing on its strategic development.
The company is focusing on the stoppage of underused plants, the divestment on concrete units in Brazil, the sale of non-strategic assets, the adaptation to new market contexts, the adequacy of pricing and products, the reduction of costs and expenses and the adjustment of the corporate structure.
Adapted from press release by Joseph Green