Peruvian cement manufacturer Union Andina de Cementos (UNACEM) has completed the acquisition of Lafarge Cementos Ecuador. The purchase, which was first announced in May 2014, was around US$517 million. UNACEM bought 98.57% of Lafarge Cementos Ecuador via Public Stock Offering.
“We are pleased with the transaction, which represents an important step in our growth strategy. With this long-term investment in our neighbouring country, Ecuador, we are committed to the Ecuadorian market, to serve it in the best way and to continue with the company’s contribution to the citizens’ quality of life,” said Carlos Ugás, UNACEM’s CEO-Director.
“The prestige of the UNACEM group in the cement industry makes this investment an attractive challenge for our company’s employees, who have received a clear message of continuity. In that regard, we are excited about the new era ahead,” added José Antonio Correa, CEO of Lafarge Cementos Ecuador.
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/the-americas/11122014/unacem-completes-purchase-of-lafarge-ecuador-1001/