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Cementos Portland Valderrivas reduces the number of directors at its subsidiaries

21/10/2008

Cementos Portland Valderrivas reduces the number of directors at its subsidiaries

Cementos Portland Valderrivas has decided to reduce the number of directors at its Spanish subsidiaries to the legal minimum as part of the company's cost-cutting plan implemented six months ago.

To this end, General Shareholder Meetings have been called at UNILAND (26 November), Cementos Alfa (27 November) and Cementos Lemona (27 November) at which amendments to their respective articles of incorporation will be proposed.

Specifically, the Board of Directors will be reduced from 9 to 4 members at UNILAND,  from 10 to 4 at Cementos Alfa and from 10 to 3 at Lemona.

Cementos Portland Valderrivas is the largest cement producer in Spain. Revenue in 2007 amounted to 1,888.7 million euro.
 
The company operates in Spain, the US, the UK, Argentina, Uruguay and Tunisia.

It has 15 cement factories, 157 concrete plants, 61 gravel quarries, 19 dry mortar plants, 13 port terminals and 9 land terminals.