Cimpor

Carmago Corrêa has proposed taking a sizeable stake in Cimpor in exchange for its cement interests in Argentina, where it is the market leader, and in Brazil.  Because of the current bid situation, any negotiations in this respect are having to be postponed.  The Brazilian market leader Votorantim was also made noises about taking a stake in Cimpor, probably to try ands frustrate the attempts by steel maker CSN and by Carmago Corrêa  to acquire important stakes in Cimpor.  CSN wants majority control, but at least one of CSN's shareholders is opposed to this move and considers that CSN should concentrate on steel and iron ore and not to spend money on buying cement assets.