World's Largest Cement Company Leaves Brazil after Economic Uncertainty and Devaluation of Real [View all]

[Judi Lynn]

LafargeHolcim, third in the national ranking, announced the sale of its operations in the country

Apr.23.2021 1:01PM

Nicola Pamplona
RIO DE JANEIRO
The cement producer LafargeHolcim decided to leave the country in a moment where the sector is recovering from the crisis caused by the recession of 2014. For specialists, uncertainties regarding the economic recovery and the devaluation of the real may have weighed in the decision.

Cement sales in the country grew 11% in 2020, driven by small reforms during the pandemic, and started 2021 with an increase of 19% in the first quarter, compared to the same period of the previous year.

However, the expectation is for a slowdown in the short term. For SNIC (National Union of the Cement Industry), at the end of the year the performance should be between 1% and 2% above the previous year. Still, the prospect is that the medium term will be helped by the government's concession program.

https://www1.folha.uol.com.br/internacional/en/business/2021/04/worlds-largest-cement-company-leaves-brazil-after-economic-uncertainty-and-devaluation-of-real.shtml?utm_source=newsletter&utm_medium=email&utm_campaign=newsen

(Short article, no more at link.)