Camargo Corrêa is preparing the sale of assets and reduction of staff in Brazil, reports Friday the Economic Journal. Operation in Portugal runs better.
Affected by the slowdown in economic activity in Brazil and by the scandals and fines associated with various legal actions, including within the framework of operation “Lava Jet” Camargo Corrêa, the Brazilian company that controls Cimpor is considering closing factories and reducing its staff in Brazil, reports Friday, August 21, the Economic Daily. The company’s operation in Portugal is going well by comparison.
“Cimpor currently carries out a package of measures that serve the dual purpose of setting the present time to market and increase operations efficiency. Among they stand out the rationalization of the structure, either through suspension of low utilization transactions either by adaptation of the local team – the optimization of production costs, the development of partnerships and investment review, “wrote the company in statement sent to CMVM with the results of the first half.
In the first six months of the year, cement fell by 13.5% in sales volume to 5.4 million tonnes, which translated a fall of 16.1% in value to 474.4 million euros, summarizes the Economic Daily
In Portugal the operation runs better:. sales rose 1.4% in volume for the 2, 4 million tons, and 6.9% in value to 150.6 million euros, an increase classified as “remarkable” by the company.
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