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 tpd 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. 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 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.”