On March 21st, Carmeuse Lime & Stone closed on its acquisition of a majority interest in Procecal S.A.S., a lime company headquartered in Medellin, Colombia. Procecal will be constructing a vertical 300 tonne per day lime kiln and hydrator. The existing stockholders of Procecal will retain a significant interest in the company and remain active in its management.
Javier Franco, the former President of Procecal, will continue to be engaged by Procecal as Vice President of Sales. Mr. Franco stated that “I am excited to be working together with Carmeuse, a world class lime and limestone company with first rate people and resources, to grow the business in Colombia.” Procecal will continue to service its existing customers and will pursue new business opportunities. This acquisition is in alignment with the growth strategy of Carmeuse and represents Carmeuse’s entry into South America. Bruce Inglis, CFO of Carmeuse Lime & Stone who is leading the growth initiative in South America, stated that South America represents “a promising market for lime and limestone in the years ahead. Carmeuse Lime & Stone is working to develop a long-term strategy for South America and is currently pursuing other attractive opportunities in South America.”
Carmeuse Lime & Stone is a leading company, specializing in manufacturing and supplying lime and limestone products for diverse applications in steel manufacturing, power generation, road construction and land development, the building industry, water treatment, waste treatment, oil and gas drilling, and chemical treatments. Carmeuse products benefit the environment in a variety of ways including cleaner air, cleaner water, and the preservation of land resources. Staffed by more than 4,000 people, Carmeuse has an international presence than spans Western, Central and Eastern Europe, North America, Asia, Middle East and Africa.
If you have any further questions please contact Kevin Whyte VP of General Counsel at our corporate office in Pittsburgh PA.