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CVRD Sells its Stake in PPSA.
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PR Newswire
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October 20, 2004
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Copyright informationCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Companhia Vale do Rio Doce (CVRD) announces that it has sold its stake in Para Pigmentos S.A. (PPSA) for US$ 117.8 million to its subsidiary Caemi Mineracao e Metalurgia S. A. (Caemi). CVRD owned 85.6 of the voting capital and 82.0 of the total capital of PPSA. The objective of this sale is the consolidation of CVRDA[acute accent]s kaolin business in Caemi, who is already a player in the global kaolin market through its subsidiary CADAM S.A. (CADAM).
Over the last twenty years, CADAM gathered a large experience in the operation and marketing of kaolin products. CADAM had a controlling interest in PPSA until 1999 and has been responsible for marketing PPSA products in the ...
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