History

History

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  • The history of InterCement Portugal, S.A. (formerly Cimpor) goes back to 1976, when it was set up as a state-owned company, operating from the start based on its three plants in Portugal - Alhandra, Loulé and Souselas. After a period of consolidation and growth in the domestic market, in 1992 the company launched its internationalisation process, starting with an acquisition in Spain. Over the next 20 years Cimpor kept growing within Portugal and across borders, so much so that at some point it operated from a total of 13 countries: Portugal, Spain, Angola, Tunisia, Morocco, Turkey, Egypt, Cape Verde, Mozambique, South Africa, China, India and Peru.

    On 20 December 2012, as a result of a corporate reorganisation and asset swap proposal submitted by its controlling shareholder InterCement, Cimpor swapped its assets in Spain (except for Cimpor Inversiones S.A., Cimpor Trading S.A. and Cimpor Eco S.L.), Morocco, Tunisia, Turkey, India, China and Peru for the cement and concrete assets and operations of InterCement in South America (Brazil, Argentina and Paraguay) and in Angola.

    In June 2012, following its takeover bid over Cimpor's entire share capital, InterCement Austria Holding GmbH (“InterCement”) gained shareholding control of the company. InterCement was founded in 1968, building its first cement plant in Apiaí, Brazil, from which it subsequently expanded and conquered the Brazilian domestic market, where it is currently market vice-leader. In 2005 InterCement initiated its internationalisation process with the acquisition of Loma Negra, which gave it the leadership of the Argentinian market, and in 2009 it started the construction of a cement mill in Paraguay. In 2014, the company installed an integrated cement plant in Paraguay, bolstering its position of market vice-leader in this country.

    In 2017 Loma Negra, C.I.A.S.A. launched an Initial Public Offering (IPO)  through a dual-listing offer on the NYSE (USA) and the BYMA (Argentina). Through this record-breaking deal, Cimpor cashed in proceeds of US$ 1,097 million, corresponding to a 48.43% stake in the share capital of Loma Negra, C.I.A.S.A..

    On 26 September 2017, upon the approval by the Portuguese Securities Market Commission (“CMVM”) of the loss of public company status (“Perda de Qualidade de Sociedade Aberta”) of Cimpor – Cimentos de Portugal, SGPS, S.A., the company's shares were delisted from the Euronext regulated market.

    In 2018 other important steps were taken for the future of InterCement Portugal, S.A.: In October the company entered an agreement to sell to the OYAK Group all the assets of its Portugal and Cape Verde Business Unit. On 12 December the extraordinary General Meeting of Cimpor – Cimentos de Portugal, SGPS, S.A. approved a series of amendments to the Company's Articles of Association, namely the extension of its corporate object to include the provision of sundry services, the change of the company's name from Cimpor - Cimentos de Portugal, SGPS, S.A. to InterCement Portugal, S.A., and, as a result of the recent increase in the company's share capital by €700,078,778.68, the new amount of its share capital: €1,372,078,778.68, represented by 2,731,055,231 shares with no par value.



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