Corporacion Noroeste to keep expanding

Corporacion Noroeste to keep expanding
Published: 25 March 2004

Corporacion Noroeste, the Spanish subsidiary of leading Portuguese cement producer Cimentos de Portugal (Cimpor), plans to carry on expanding this year in the Spanish autonomous region of Andalusia by taking over some quarries as well as cement production plants and cement trading companies. The company invested 220m and 13.5m euros in 2002 and 2003 respectively to strengthen its position in this Spanish region, because of its big potential for the company.  Corporacion Noroeste recorded turnover of 300m euros last year, up by 76 per cent. Operating profits rose by 30 per cent to 57.2m euros, while consolidated profits recorded a twofold increase to 29.3 per cent. It has a share of nearly 9 per cent of the Spanish cement sector.