Guatemalan Group Acquires Cement Plant in Panama

Cemento Interoceanico de Panama announced that the Progreso group acquired 100% of its shares and that they have begun a transition process.

Thursday, November 21, 2019

Panamaamerica.com.pa reports that the business conglomerate Progreso, owner of Cementos Progreso, decided to invest in Panama because of "... high demand for cement in the country and the increase in the prices of the largest input of the construction industry, which is part of the many reasons why it bets on the market to provide a high quality product at a competitive price, complying with established standards and controls."

You may be interested in "Cement: Market Figures up to March 2019"

Cement: Market Figures up to March 2019Add the article that "... Only in 2018 the consumption of cement in Panama was 1 million 672 thousand 34 metric tons. Of these, 32,944 metric tons were imported, representing a 2% increase over national consumption."

Through a statement, Cemento Interoceanico informed its staff that working conditions will remain unchanged for all employees and there will be no change of employer.

According to reports from CentralAmericaData, during 2018 the main importer of hydraulic cements in Central America was Nicaragua, with $48 million, followed by Guatemala, with $44 million, El Salvador, with $25 million, Honduras, with $14 million, Panama, with $13 million and Costa Rica, with $10 million.

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More on this topic

Merger of Poultry Companies

October 2019

Both companies announced an agreement for La Estancia, Guatemalan and Ecuadorian capital, to acquire a stake in the Panamanian company Toledano.

La Estancia, a company that will have a stake in Toledano, is a consortium born from the merger of Procesadora Nacional de Alimentos C.A. (Pronaca), headquartered in Quito, Ecuador, and Corporación Multi Inversiones (CMI), in Guatemala City.

Dairy: Grupo Lala Buys Eskimo in Nicaragua

December 2014

The Mexican group has announced an agreement to acquire all the assets of Eskimo and its subsidiaries in Nicaragua and the rest of Central America, without disclosing the amount of the transaction.

Eskimo SA is a food company in Nicaragua which has been operating for more than 72 years.

Large Cement Factory in Guatemala

July 2013

Cementos Progreso has announced an investment of $720 million in the construction of the San Gabriel plant with capacity of 2.3 million tons per year.

"Adding this to the capacity of the San Miguel plant, located in Sanarate, El Progreso, the company will be able to offer the market five million tons of product every year", reported Prensalibre.com.

Cementos Progreso Invests $23 Million in Guatemala

February 2010

The cement company inaugurated a new calcium oxide production line in the department of Progreso.

The facility, which required over a year to build, will help double the company’s production capacity.

Prensalibre.com reports: “The project comprises a Swiss oven to process calcium oxide, capable of 400 tons a day, German machinery to process 700 tons a day, plus a packing device, capable of 20 tons per hour”.

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