On August 31, Cementos Progreso Holdings announced the start of its operations in El Salvador, after signing an agreement to acquire Cemex’s operations in the country.
Said negotiation was also carried out in Costa Rica. In total, the value of the purchase amounted to $329 million.
The installation of the Guatemalan firm in the two nations represents the acquisition of assets that the previous company already had, such as a cement plant, a cement mill, seven ready-mix concrete plants, an aggregates quarry and a distribution center in each country. .
José Miguel Torrebiarte, Chairman of the Board of Directors of Cementos Progreso Holdings, assured that this operation constitutes a great step in their expansion strategy, since they already have a presence in seven Latin American countries.
In addition, he indicated that the company he directs will bet on sustainable development and the strengthening of the Salvadoran and Costa Rican economies.
“This is a great step in our history to continue leaving a mark in the region and continue with the legacy of our founder, Carlos Novella, with a clear vision of generating economic, social and environmental value in each of the countries where we operate,” Torrebiarte added.
For his part, José Raúl González, CEO of the company, affirmed that the expansion of its business in Central America will be key to international development and will open professional growth opportunities to his collaborators.
“With this start of operations we consolidate our presence in seven countries. We appreciate the commitment and leadership of the teams that were assigned to carry out this process. We emphasize the commitment to act responsibly with our collaborators, the environment, customers, suppliers, communities and other public of interest”, concluded González.