Published by
Joseph Green,
Editor
World Cement,
Reuters are reporting that Cementos Pacasmayo, Peru, has announced plans to separate its cement operation and phosphate holdings into two independent public companies.
The company's ownership of Fosfatos Del Pacifico will be transferred to a separate entity, Fossal, that will in turn own 70% of Fospac.
The proposed corporate reorganisation is tax-free.
Fossal will retain same the directors and CEO.
Edited from source by Joseph Green. Source: Reuters
According to ASOCEM, its member companies despatched 904 840 t of cement on the national market in September, and saw sales rise by 0.42% in the first nine months of the year.
According to ASOCEM, sales of cement on Peru’s national market reached 845 907 t in July 2014.
The Peruvian construction sector grew 8.56% in 2013. Meanwhile, the latest figures from ASOCEM reveal that domestic cement dispatches fell by 3.10% y/y in January 2014.
Having experienced the lowest inflation rate among the major Latin American countries last year, Peru’s economic growth is expected to be the second highest in the region.