Portuguese Cimpor interested in Paraguay

Portuguese Cimpor interested in Paraguay
Published: 26 August 2008

Portuguese cement producer Cimpor is keen to step in Paraguay, which it might do via acquiring Paraguayan state-owned cement group Industria Nacional del Cemento (INC) or investing in it, daily La Nacion said on August 22, 2008.
 
According to the Paraguayan daily, which cites Guillermo Alcaraz from local agency for investments and foreign trade Rediex, Cimpor is awaiting for the Government to decide if INC will be privatised.
 
The Paraguayan company is currently facing financial difficulties. Reportedly, it needs some US$45m only for modernisation.
 
Alcaraz was quoted as saying that Jorge Salavessa Moura from Cimpor guaranteed that once the capital needs of INC are clarified, the funding will be easily secured.
 
Cimpor has not yet commented on the matter.
 
According to La Nacion, the Paraguayan government considers important for INC to have an European partner, in order to be able to compete against the Brazilian, the Argentinian and the Uruguayan cement companies that are currently operating in Paraguay.