Cimpor said Friday it has formalised the acquisition of the entire share capital of Nordicave Trading Industrial, Lda., which sole asset is a participation of 86.65 per cent in Cimentos de Cabo Verde, SARL. The price of the acquisition was not provided. The activity of CCV consists in importing and distributing cement in Cape Verde. It owns a bulk terminal and a packing facility on the Santiago island, located in the port of Praia.
In 2004, its sales volume reached 110,000t of cement, corresponding to market shares of around 60 per cent in Santiago, 48 per cent in Sao Vicente and 45 per cent in the other islands. With this acquisition, the Cimpor Group will have access to a new market in Africa, where it already participates in cement companies in six countries: Morocco, Tunisia, Egypt, Angola, Mozambique and South Africa.
