After Brazil deal, France's Vicat plans LatAm expansion
France-based cement producer Vicat plans further expansion through Latin America, after the consolidation of its first acquisition in the region, Brazilian cement producer Ciplan.
In January, Vicat bought a 65% stake in Ciplan for 295mn euros (US$333mn) including the assumption of debts. This deal made Brazil a hub for the company’s regional expansion.
"We are confident that business in Brazil will develop and that the country will represent a significant part of our activities," Vicat CEO Guy Sidos said, according to Valor Econômico newspaper. "When everything is on track in Brazil, we will think about other moves in Latin America," he added, without mentioning potential countries on Vicat’s radar.
The executive said Vicat entered Brazil just as the market begins to recover. After four years of decreases, cement sales are projected to expand by 3%.
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