Sale of Cementos Chimborazo shares draws closer, Ecuador

Sale of Cementos Chimborazo shares draws closer, Ecuador
Published: 16 May 2010

Hugo Jimenez, president of the Commonwealth of Chancahuan, is eager to obtain shares in Cementos Chimborazo, after waiting three years for the deal to take place.


This is after several attempts to sell the cement plant and six months after the announcement of new negotiations with the Ministry of Industry and Productivity (Mipro). In June 46% of the shares will be transfered to workers and surrounding communities.



The negotiations took place at a cost of US$63m, according to Industry Minister, Verónica Sion, who also noted that it established "a payment schedule for the coming years."
 
Sourc: El Universo