Volcan subsidiary acquires stake in Polpaico, Chile

Volcan subsidiary acquires stake in Polpaico, Chile
Published: 04 May 2011

A subsidiary of Peruvian polymetallic miner Volcan has bought a minority interest in Chilean cement company Polpaico.

Empresa Minera Paragsha has acquired a 17.66% interest in Polpaico, Volcan reported to Peruvian securities regulator Conasev.

Volcan is the second Peruvian company to enter the Chilean cement market after holding Brescia acquired a controlling interest in Lafarge’s local branch, Melón, for US$555m in 2009.

Polpaico, controlled by Holcim, has roughly one-third of the Chilean cement market.