Semapa head proposed as Portucel chairman

Portuguese cement company Semapa said on Thursday that its chairman has been proposed to take the same post at pulp and paper company Portucel. Semapa last month won a 30 percent stake in Portucel in the second stage of the company’s privatisation. State control fell to about 25 per cent.  Chairman Pedro Queiroz Pereira will replace Jorge Armindo as Portucel chairman, Semapa said in a statement. Semapa board member Jose Honorio will become chief executive and Manuel Regalado will become chief financial officer.