Cementos Molins may seek more acquisitions

Cementos Molins may seek more acquisitions
Published: 26 June 2006

Smarting from its failure earlier this month to acquire fellow Spanish cement producer Uniland, Spanish cement group Cementos Molins is looking to other opportunities for growth via acquisitions. Cementos Molins chairman Casmiro Molins Ribot, however, has acknowledged that such opportunities will be difficult to come by. On June 4, the majority shareholders in Uniland agreed to sell 51 per cent of the firm for Euro 1.092bn euros to Portland Valderrivas, a subsidiary of leading Spanish construction and services group FCC. Portland Valderrivas also has an option to acquire another 22 per cent of the firm. 
 
At its shareholders’ meeting on June 29, Cementos Molins will approve its results for 2005. Last year, the firm posted turnover of Euro 594m and a profit of Euro 84m.