Cimpor To Buy 54% stake in Mat Atlantico

Cimpor To Buy 54% stake in Mat Atlantico
Published: 26 October 2004

Cimpor-Cimentos de Portugal said Monday it has agreed to buy a 54 per cent stake in Spain’s Materiales del Atlantico for EUR4.55m.  In a statement, Cimpor said the transaction will be carried out by its Spanish unit Corporacion Noroeste SA, and is subject to approval by the Spanish competition authority.  Materiales del Atlantico operates in the Coruna-Galiza region, with a cement mill in Naron. It sells between 250,000t and 300,000t a year.