Cemento Panam Buys Cement Plant in El Salvador

Cemento Panam, the cement subsidiary of Dominican conglomerate Grupo Estrella, is expanding into El Salvador through the acquisition of Cementos Fortaleza.

The deal includes Cementos Fortaleza’s plant in Acajutla, one of El Salvador’s main industrial and port centers. The facility has annual cement-production capacity of 350,000 tonnes. The companies did not disclose the purchase price.

The transaction received financial backing from the Latin American Export Bank, known as Bladex, Banco de América Central and Global Bank. It gives Cemento Panam operations in a third market, following its businesses in the Dominican Republic and Panama, where it operates under the Cemento Bayano brand.

Giuseppe Maniscalco, president of Estrella’s Industrial Division, said the acquisition strengthens the group’s regional production platform and extends its experience into new markets. Cemento Panam’s portfolio includes cement, concrete and aggregates.

Grupo Estrella has operated for 43 years and has a presence in 16 Central American and Caribbean countries. Its businesses include construction, real-estate development, concrete prefabrication and the manufacture of reinforcing bars, metal structures and steel products, as well as investments in energy, hospitals, airports, hardware retail and media.

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From the Dominican Republic we continue strengthening a cement production platform with a regional vision, integrating our experience into new markets and creating opportunities to continue contributing to the development of Central America and the Caribbean.