Cimpor plans expansion in Brazil, considers other markets
During a press conference in Lisbon, Cimpor’s Chief Financial Officer Antonio Varela spoke of the company’s plans to open a new plant in Brazil and explore opportunities in Morocco and Mozambique.
“Besides the new factory and new line we announced in November, we are planning another plant in Brazil,” he said, without giving further details. In November 2010, Cimpor announced plans to invest €240 million in Brazil over the next three years. The company has not confirmed whether it will increase capital spending this year after a 25% drop last year. The Brazilian market already accounts for about 30% of the company’s EBITDA, making it the company’s biggest market, followed by Portugal at 22%. The company’s total EBITDA rose 3.9% in 2010 to €630 million.
Cimpor has operations in Egypt and Tunisia, which it says are operating as usual. The company has no plans to expand operations in these countries, or elsewhere along the Mediterranean Rim aside from Morocco.
Read the article online at: https://www.worldcement.com/the-americas/04032011/cimpor_plans_expansion_in_brazil_considers_other_markets/
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