Portuguese cement producer Cimpor intends to integrate its activities on the markets in Portugal and Spain.
The integration will be carried out in the short term resulting in a new business area, named Iberia, the company said in a filing with Portugal’s bourse regulator CMVM.
This internal reorganisation will allow the firm to cancel part of its costs in the region which are now double. Cimpor expects to narrow costs by EUR60m (US$79.8m) with the new structure within three years.
The integration will also improve the efficiency in order to achieve better results.
The company’s production capacity in Portugal and Spain stands at 10.3Mta of cement.