Cement News tagged under: Brazil
Paraguay: INC faces increased Brazilian imports03 June 2016, Published under Cement NewsBrazil’s current imports of around 400,000 bags of cement is damaging the Paraguayan cement industry, according to Jorge Méndez, CEO of Industria Nacional de Cemento (INC). This represents over a third of monthly cement demand. "What we're seeing is that cement consumption is virtually unchanged, but a lot of product is entering [Paraguay] from Brazil," he said. Particularly in Alto Paraná it is difficult to sell cement as Brazilian cement is sold at around PYG36,000/bag. While some cement... |
Brazil: LafargeHolcim opens new production line in Barroso24 May 2016, Published under Cement NewsLafargeHolcim has begun production at a new line in its Barroso plant in the state of Minas Gerais, Brazil. The new line raises the plant's capacity to 3.6Mta. Equipment includes the world's largest vertical cement mill, with 450tph production capacity as well as a Horomill for raw material grinding with low power consumption, and a fully-automated quality control laboratory. The new line will allow the reduction of total costs per tonne of cement by around 25 per cent from 2014 to 2017. ... |
Brazil: Magnesita 1Q16 income17 May 2016, Published under Cement NewsMagnesita Refratários SA announced a net income of US$22.7m between January and March of 2016. The publicly-traded Brazilian Corporation focusses on mining and the production and sale of refractory materials and industrial minerals. Magnesita’s EBITDA reached US$39.1m in 1Q16 with a 16.9 per cent margin, while the registered net revenue for the period was US$234m. CEO of Magnesita, Octavio Pereira Lopes, emphasised that despite the economic deterioration in Brazil and the excess of ste... |
LafargeHolcim: cement volumes up 1.4% but revenues flat12 May 2016, Published under Cement NewsIn its results for 1Q16, LafargeHolcim announced that cement volume sales rose by 1.4 per cent YoY with the Asia-Pacific region accounting for most of the improvement. Like-for-like revenues were almost unchanged on 1Q15, rising by just 0.1 per cent to stand at CHF6.062bn (US$6.244bn). In the earnings statement, LarfargeHolcim cited “challenging” conditions in Nigeria, Brazil and India as the reason for slow growth. The company also noted that the first quarter typically saw less activity... |
The BRICs come under pressure08 April 2016, Published under Cement NewsWhile the cement world has been concentrating on the slowdown in China and the large-scale mergers in India's cement sector, there has been little notice to the plight of other BRIC countries that are underperforming and are not attracting the investment that had previously put them at the top of the growth chart. The Economist Intelligence Unit this week observed that: "It has been clear for some time that the BRICs has had its day. While China and India have largely lived up to the grou... |
Brazil: Votorantim Cimentos downgraded to BBB-01 April 2016, Published under Cement NewsFitch Ratings has downgraded the foreign currency Issuer Default Rating (IDR) and senior unsecured rating of Votorantim Cimentos to 'BBB-' from 'BBB'. The rating outlook remains negative, said Fitch Ratings, and reflects the significant deterioration in the Brazilian economy resulting in weakening cement fundamentals over the medium term. The challenging domestic market coupled with Votorantim's aggressive capital expenditure plans over the next 24 months will result in further deteriorati... |
Brazil: monthly sales fall 6.1%10 March 2016, Published under Cement NewsCement sales in Brazil totalled 4.6Mt, down 6.1 per cent compared to the same month a year earlier, according to preliminary results and market estimates gathered by Brazilian National Cement Industries Union, SNIC. Cumulative sales over the last 12 months (ie, March 2015 - February 2016), reached 63.1Mt, down 9.5 per cent versus the comparative period of the year earlier (ie, March 2014 - February 2015). |
Moody's downgrades Votorantim Cimentos' ratings to Ba2, outlook is negative29 February 2016, Published under Cement NewsMoody's Investors Service downgraded Votorantim Cimentos SA's senior unsecured rated debt to Ba2 from Baa3. At the same time, Moody's withdrew Votorantim Cimentos' issuer rating and assigned a Ba2 Corporate Family rating. The outlook was changed to negative. The rating action follows Moody's downgrade on 24 February 2016 of Brazil's government bond rating to Ba2 from Baa3. In addition, Moody's downgraded the country's senior unsecured debt rating to Ba2 from Baa3 and the senior unsecured s... |
Brazil: Votorantim Cimentos launches new portfolio of bagged cement19 February 2016, Published under Cement NewsVotorantim Cimentos is launching in the Brazilian market the biggest innovation of its retailing cement portfolio in 83 years of history, the company said in a statement. The launch is the result of extensive research that involved over 400 construction professionals, focussed on understanding the challenges, difficulties and needs of the various stakeholders of the construction industry, the Brazilian cement market leader explained. The survey iden... |
Votorantim to invest in Spanish plant04 February 2016, Published under Cement NewsVotorantim Cimentos will invest EUR1.7m in the Toral de los Vados cement plant of its Spanish subsidiary Cementos Cosmos. The investment will fund environmental improvements as well as health and safety initiatives. Last year the Brazilian major invested around EUR1.8m in the modernisation of the facilities despite the works seeing clinker production fall by 10 per cent with further declines expected for this year. Votorantim attributed the 2015 drop due to a decrease in exports. “Our lac... |