Cimpor sees growth in India, emerging markets

Cimpor sees growth in India, emerging markets
12 January 2011

Portuguese cement major Cimpor says it is looking for more investment opportunities in India, where it already has a factory, and is optimistic for 2011 thanks to its diversification into emerging markets, said Antonio Varela, Chief Financial Officer (CFO), told Reuters. 

The company’s sales in Iberia have been negatively affected due to the global financial crisis, but Cimpor has experienced significant increases in turnover in emerging countries like Brazil and Turkey. 

Speaking on the prospects for 2011, Cimpor’s CFO, Antonio Varela, told Reuters that 2011 "will be a year of continuity from previous years. Of course we are optimistic." 

"In India we have a factory, is an area where we are looking for investment opportunities in emerging markets. Last year, we announced new plants in Brazil, China and Mozambique," he said. 

Mr Varela added that funding needs are covered for the next two years, but the company would like to see an improved  rating of BBB- by Standard & Poor.
Published under Cement News