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CPAC supplier relationships

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CPAC supplier relationship map

Cementos Pacasmayo (CPAC): Supplier Relationships, Financial Signals, and Operational Constraints

Cementos Pacasmayo is a Peruvian cement producer that monetizes through the production, distribution and sale of cement and related building materials across Peru, generating stable, cash-generative operations supported by near-term recurring demand in construction and infrastructure. The company funds operating liquidity through a mix of bank deposits and medium-term credit facilities, and it invests in operational resilience through ERP modernization and third-party construction partnerships. Investors should view CPAC as a mature materials company with stable margins, modest institutional ownership, and a clear vendor and bank counterparty profile that shapes financing and operational risk.

For a focused supplier-risk view, visit the full platform at https://nullexposure.com/.

How CPAC’s supplier map frames the business operation

CPAC’s supplier ecosystem splits into two visible clusters: financial counterparties that supply liquidity and term financing, and technology and engineering partners that underpin operations and capital projects. The financial relationships concentrate liquidity with large Peruvian banks, while technology links—SAP and IBM—signal a multi-year dependency on a modern ERP stack. Construction partnerships for capital projects add project-execution counterparty risk.

This structure drives three practical investor takeaways: 1) near-term liquidity is bank-driven and therefore sensitive to Peruvian banking relationships; 2) core operational continuity depends on the SAP/IBM migration; and 3) capital projects bring specialist contractors into CPAC’s risk profile. Learn more on supplier exposures at https://nullexposure.com/.

Detailed relationship roster (each result covered)

  • SCOTIABANK (FY2025) — Cementos Pacasmayo held certificates of deposit totaling S/31.5 million in FY2025 with several short-dated placements recorded with Scotiabank; those placements and maturities are disclosed in the company’s FY2025 SEC filing. (Source: Cementos Pacasmayo FY2025 filing on sec.gov.)

  • Banco de Crédito del Perú — syndicated loan (FY2022) — Credicorp Capital Servicios Financieros and Scotiabank del Perú acted as structurers for a medium-term loan facility up to USD 214.6 million that included Banco de Crédito del Perú as a lender to Cementos Pacasmayo, establishing a formal medium-term banking relationship. (Source: LexLatin report, January 2022 coverage of the transaction.)

  • Scotiabank del Perú (FY2022) — Scotiabank del Perú served as a co-structurer and lender in the same USD 214.6 million syndicated financing arranged in FY2022, linking CPAC to multiple large Peruvian banking institutions for medium-term capital. (Source: LexLatin report on the loan facility.)

  • IBM Services (FY2023) — CPAC engaged IBM Services to manage migration work based on SAP S/4HANA expertise, positioning IBM as the systems integrator for the company’s ERP transformation. (Source: IBM case study describing the SAP S/4HANA migration partnership.)

  • SAP (FY2023) — Cementos Pacasmayo migrated to a full SAP S/4HANA suite covering finance, sales, quality control, materials and plant maintenance, establishing SAP as the core ERP supplier driving critical operational systems. (Source: IBM case study and CPAC references to SAP S/4HANA adoption.)

  • Bechtel Corporation (FY2025) — CPAC referenced working closely with Bechtel Corporation on the construction of a water‑treatment plant at the Yanacocha operation, making Bechtel a partner on a significant capital project. (Source: Q3 2025 earnings call transcript published on InsiderMonkey.)

  • Banco de Crédito del Perú (FY2025 certificates of deposit) — In FY2025 CPAC recorded certificates of deposit with Banco de Crédito del Perú totaling various short-term placements (S/2.0, S/4.0, S/6.0 among others), showing active cash management with that bank in addition to prior lending relationships. (Source: Cementos Pacasmayo FY2025 filing on sec.gov.)

  • Credicorp Capital Servicios Financieros (FY2022) — Credicorp Capital acted as a structuring financial advisor in the USD 214.6 million medium-term loan package in FY2022, indicating CPAC’s use of local capital markets advisors for transaction execution. (Source: LexLatin coverage of the 2022 financing.)

Operational constraints and company-level signals

The record contains no extracted external constraint excerpts; the following are company-level operating signals derived from public disclosures and financials that influence supplier posture and risk allocation.

  • Contracting posture — bank-centric and transactional. CPAC funds working capital through short-term bank placements (certificates of deposit) and medium-term syndicated loans, reflecting a conservative, bank-focused liquidity model rather than reliance on capital markets for daily working capital.

  • Concentration and ownership signals. Institutional ownership is modest at roughly 6.3% per the latest figures, and insider ownership is reported effectively at zero, which translates into limited institutional pressure and a governance posture that relies on operational performance over activist influence.

  • Criticality of technology suppliers. The SAP S/4HANA migration implemented with IBM makes the ERP platform critical infrastructure for finance, supply chain and plant operations; vendor continuity and implementation risk are therefore material to operational stability.

  • Maturity and cash-return orientation. CPAC pays a dividend (most recent dividend per share and yield visible in filings) and delivers stable margins and EBITDA, signaling a mature business model that prioritizes steady cash returns and capex to sustain plant operations rather than aggressive growth investments.

  • Financing and liquidity discipline. The presence of both medium-term syndicated facilities and short-dated certificates of deposit indicates active liquidity optimization and working capital management through established Peruvian banking partners.

What this means for investors and operators

  • Counterparty risk is concentrated in domestic banks. CPAC’s liquidity and medium-term financing is secured through major Peruvian banks—Scotiabank, Banco de Crédito del Perú and Credicorp participation—which creates correlated exposure to Peruvian banking conditions and credit terms. This is not speculative: the loan and deposit records are public.

  • ERP and systems risk are operationally material. The SAP S/4HANA migration managed with IBM elevates vendor risk to a strategic level: any disruption or extended implementation cost overrun would directly affect finance, procurement and plant maintenance processes.

  • Capital projects introduce execution and contractor dependency. Engagement with Bechtel on a water treatment plant highlights reliance on specialist engineering contractors for high-value projects; contractor performance and change-order discipline will influence capex delivery and operating readiness.

  • Balance of credit and liquidity vs. growth. The combined use of CDs and medium-term debt suggests CPAC balances liquidity with disciplined leverage; with EV/EBITDA and profit margins consistent with a stable materials business, the financing posture supports dividends while leaving room for targeted capital projects.

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Bottom line and recommended next steps

Cementos Pacasmayo operates as a stable, cash-generative cement producer whose supplier footprint is dominated by Peruvian banking counterparties, an enterprise-grade ERP platform supplied by SAP and IBM, and selective engineering partners for capital projects. Key risks for investors are bank-counterparty concentration, ERP implementation continuity, and capital-project execution. Monitor banking relationships and ERP project milestones as primary leading indicators of short-to-medium-term operational and financial risk.

For a deeper supplier-risk assessment and monitoring feed that integrates filings, news and vendor contracts, explore further at https://nullexposure.com/.