Cementos Lemona SA has applied for delisting from the Madrid and Bilbao stock exchanges, the Spanish stock market regulator CNMV informed on June 22, 2006. The move was approved by the general shareholders’ meeting on May 10, 2006 and follows a successful takeover bid, launched by Spanish sector company Cementos Portland Valderrivas in January 2006. Cementos Portland Valderrivas, a unit of Spanish construction and services group Fomento de Construcciones y Contratas SA (FCC), currently holds 97.4 per cent in Cementos Lemona.
The acquisition was in line with FCC plans to strengthen its positions on the cement market in northern Spain and the USA. The company also bought a 51 per cent stake in Spanish cement company Uniland for Euro 1.092bn at the beginning of June 2006.