Announcement of Investment in Luren S.A. and Ladrillos Calcareos S.A. in Peru on September 29, 1959

INTERNATIONAL FINANCE· CORPORATION . 1 8 1 8 H STREET, N.W., WASHINGTON 25, D. C. TELEPHONE: EXECUTIVE 3-6360 PRESS RELEASE NO. 35 For Release SUBJECT: Investment in A.H. newspapers Luren S •.A. and Ladrillos T-~esday, Septe~ber 29, 1959 Calcareos s.A. in Peru The International Finance Corporation (IFC) announced today a commit- ment to invest U.S.~~280,000 in Lu#;Jn S.A. and Ladrillos CaJ.careos S.A., two associated Peruvian companies, for expansion or brick production. Luren is a mining company which extracts and processes limestone and sand for Ladrillos in its production of bricks. • The Luren and Ladrillos operations are located south or Lima. The expansion project will increase all phases or production or both companies. These i!>.clude quarrying of limestone and sand, the production or li111e, the preparation of sand-lime mixture, and the molding and autoclaving of bricks.\.\ Capacity is e?CPected to reach about 100,000 bricks a day on completion or the project. IFC 1s investment of $280,000 will help finance the expansion, providing for purchase of new machinery and working capital. It will be in U.S. dollar Notes maturing by 1969 and bearing interest at?% with additional payments contingent on earnings. IFC :will also receive a right to subscribe I• to shares of Luren and Ladrillos. The IFC commitment is subject to cbmpletion of the neceesary legal formalities • •