Brazilian Vale Mining to buy Colombian Argos

· Economics, Latin America

El Hatillo Coal Mine of Argos. Photo

Vale (Companhia Vale do Rio Doce), the mining Brazilian company, is going to buy the Colombian Argos, according to a communicate in Sao Paolo. The largest logistic operator in Brazil and the second-largest mining company of the world, will buy the 100% of shares of the largest mining Colombian company, Argos, for 300 million of dollars.

Argos.PNGThe Argos Company (Cementos Argos) is the fourth largest cement producer in Latin America with investments in countries like Panama, Haiti, Venezuela and Dominican Republic. It has production in United States and export cement to 27 countries.

Argos produced coil for 1.8 million of tons in 2008 and it will reach 4.5 million of tons by 2011, according with AméricaEconomía. The total sum of the selling reach USD 373 million and it will strength the development and growing of the Brazilian firm.

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