Diego Lugano and Hipermix in Brazil JV

Diego Lugano, a former footballer for Uruguay’s national team, is entering the cement business in Brazil in a joint venture (JV) with local company Hipermix. The JV has inaugurated a 0.4Mta cement and mortar factory in the industrial district of Montenegro, Rio Grande do Sul. The BRL100m (US$20.4m) investment will see the production of 100,000tpa of cement traded as Cementos Gaúcho, according to local media. The plant will create 30 direct and 120 indirect jobs.

Cementos Gaúcho will serve the Rio Grande do Sul, Santa Catarina and Paraná markets in Brazil as well as exporting to Argentina, Paraguay and Uruguay. Mr Lugano also has a stake in Compañia Industrializadora the Minerales SA (CIMSA), which produces cement under the brand name Charruá.