Camargo Correa acquires controlling stake in ??CimNacala

Camargo Correa acquires controlling stake in ??CimNacala
14 June 2010

Brazilian company Camargo Correa Cimentos has acquired 51 per cent of Cimentos de Nacala (CimNacala) of the Mozambican Insitec group.

CimNacala operates a grinding facility in the port city of Nacala, Nampula province.

The cost of the acquisition was not revealed in the Saturday announcement by the company, a member of the Camargo Correa group. It also acquired limestone reserves near the plant.

Earlier this year, Camargo Correa purchased a stake in Portuguese producer Cimpor as part of its strategy to increase its international presence.

Insitec is a Mozambican conglomerate operating mainly in the heavy construction industry. It will maintain a 49 per cent stake in CimNacala.
Source: MacauHub
Published under Cement News