Pacasmayo profits tick up on Zemex purchase

Pacasmayo profits tick up on Zemex purchase
Published: 03 March 2004

Peru’s third largest cement maker Cementos Pacasmayo has reported 2003 profits of 56.8mn soles (US$16.9m), up 2.16 per cent up on the 55.6mn soles reported in 2002, according to information the company gave the Lima Stock Exchange.  A positive contribution from industrial operations from new subsidiary Zemex Industrial Minerals more than made up for lower cement sales. Cement production fell 3.82 per cent from 741,463t in 2002 to 713,145t in 2003.  Pacasmayo bought Canadian minerals company Zemex in 1H03. Zemex produces a range of industrial minerals, primarily in the US.