Cement News tagged under: Brazil
CSN requests IPO for cement division20 May 2021, Published under Cement NewsAfter the recent IPO of its mining arm, Brazilian steelmaker CSN is now looking to list shares of its cement division. The company requested authorisation from securities regulator CVM for the IPO of CSN Cimentos, although it did not provide further details. Cement sales in Brazil increased 20.8 per cent in the first four months of the year to 20.5Mt, according to preliminary figures from industry association SNIC. "The consumption of cement by infrastructure projects is medium and ... |
Brazil's SNIC urges short-term caution with sunnier outlook from 202218 May 2021, Published under Cement NewsCommenting on the latest consumption data of the Brazilian cement market, the country’s cement association, SNIC cautioned against too much optimism for 2021: “The cuts in the federal government budget, mainly in activities such as infrastructure and housing programmes such as Casa Verde Amarela, macroeconomic instability, exchange rate devaluation, inflation, rising unemployment, the slow pace of vaccination and the loss of the wage bill come reducing optimism and further increasing the unc... |
Brazil's cement sales up 27% in April17 May 2021, Published under Cement NewsBrazilian cement sales surged 26.5 per cent YoY to 5.3Mt in April, according to the domestic cement association, SNIC. Domestic sales Sales within Brazil saw a 25.8 per cent uptick to 5.219Mt in April 2021 from 4.148Mt in the equivalent period of 2020. The volume of cement sales per working day increased 8.2 per cent MoM and 25.8 per cent YoY to 237,200t. However, the considerable rise is due to a low base in the equivalent period of 2020, which saw the worst performance of the year as s... |
Titan Group records increased 1Q volumes in the US and Greece14 May 2021, Published under Cement NewsTitan's 1Q21 regional results saw strong volume growth in the US, particularly in the Mid-Atlantic region, while the domestic market of Greece also had encouraging results with cement sales increasing on 1Q20. Solid price trends in the US testified to the pent-up demand and a more confident restarting of activity that reflects the economy's robust growth. Demand was stable in Florida, with divergent trends depending on geographies, while even a slow recovery was witnessed in New York, whi... |
CSN reports stable quarterly cement performance05 May 2021, Published under Cement NewsBrazil-based cement producer CSN said 1Q21 net revenue for its cement division reached BRL277m (US$50.9m). The company said this was a “stable performance compared to the previous quarter, even considering a lower sales volume (-3.6 per cent) caused by seasonality.” The company also reported marginally higher unit costs due to a maintenance outage which led to an EBITDA of BRL103m, with an EBITDA margin of 37.2 per cent. According to the latest data by the National Union of the Cement In... |
Fitch revises Votorantim Cimentos' outlook to stable05 May 2021, Published under Cement NewsFitch Ratings has affirmed Votorantim Cimentos SA's (VCSA) Long-Term Foreign- and Local-Currency Issuer Default Ratings at 'BBB-' and revised the rating outlook to ‘stable’ from ‘negative’. The change in outlook mirrors that made to VCSA's ultimate parent, Votorantim SA (VSA). VCSA accounted for 55 per cent of VSA's EBITDA during 2020 and 46 per cent of its debt. These figures compare with 45 per cent of EBITDA in 2019 and 53 per cent of the group's debt. Fitch noted that: "Although there ... |
The search is on for new investors in Brazil's cement sector23 April 2021, Published under Cement NewsBrazil's cement market has been the focus of much attention in recent weeks firstly, with the completion of the CRH cement assets in the country to Companhia Nacional de Cimento (CNC), and more recently the unconfirmed reports that Banco Itau BBA is preparing to advise on the divestment of LafargeHolcim's Brazilian unit. The sale of the Swiss multinational's cement interests in Brazil is expected to raise up to US$1.5bn, according to analysts UBS European Building Materials . These fund... |
LafargeHolcim looks to divest Brazilian assets22 April 2021, Published under Cement NewsLafargeHolcim is reportedly exploring the sale of its Brazilian unit, which consists of 12 plants, according to people close to the matter. The company has hired Banco Itau BBA to advise on the potential divestment, which could bring in as much as US$1.5bn. The divestment could be made to one buyer or assets could be split. Under CEO Jan Jenisch, the company has been selling off assets that do not contribute to core operations as the company seeks to reduce debt levels. Earlier sell-off... |
Brazilian Companhia Nacional de Cimento completes the purchase of CRH Brasil assets19 April 2021, Published under Cement NewsThe Brazilian antitrust authority, CADE, in accordance to the agreement disclosed on 26 October 2020, has confirmed Brazilian Companhia Nacional de Cimento’s (CNC) purchase of all the businesses of the CRH group operating in Brazil (CRH Brasil and its subsidiaries). CNC is a wholly-owned subsidiary of BCPAR, holding company in which Buzzi Unicem owns 50 per cent of the share capital in a joint venture with Grupo Ricardo Brennand. The consideration paid takes into account the price originall... |
Brazilian cement consumption up 34% YoY in March14 April 2021, Published under Cement NewsBrazil's cement market expanded 34.2 per cent to 5.48Mt in March 2021 when compared with March 2020, according to the country’s cement association, SNIC. Market growth was the strongest in the south, where sales increased 45.3 per cent YoY from 682,000t to 991,000t in March 2021, followed by sales in the northeast, which expanded by 43.6 per cent to 1,127,000t from 785,000t. In the central-western part of Brazil offtake rose by 37.9 per cent to 571,000t from 414,000t while in the north, th... |