Cement News tagged under: Brazil
Camargo Correa reportedly looking to sell stake in InterCement10 June 2015, Published under Cement NewsCamargo Correa is looking to sell a stake in cement maker InterCement for up to BRL3.6bn (US$1.2bn) to make new overseas investments, according to a report in Brazilian daily newspaper Folha de S Paulo. Camargo Correa is looking to sell between 10-18 per cent of InterCement for between BRL2bn-3.6bh, the newspaper reported on Tuesda. Folha reported that Camargo Correa's hefty BRL8.2bn of debt had led the company to seek a minority partner in order to take advantage of opportunities to grow ... |
Secil 1Q15 boosted by Angola operations02 June 2015, Published under Cement NewsSemapa, the Portuguese holding company that controls Secil, said turnover in its Cement and Derivatives Business unit for the first quarter of 2015 increased by 2.4 per cent YoY to EUR99.9m. The growth is mostly attributed to the performance of the ready-mix business unit in Portugal and Angola operations. EBITDA during the three month period rose by four per cent to EUR17.1m. Operating income was down by 25 per cent to EUR4.7m due to the increase in depreciation. Consolidated net income ... |
Holcim and Lafarge seal binding deal with CRH27 May 2015, Published under Cement NewsLafarge and Holcim have now entered a binding agreement with CRH regarding the sale of several assets with an enterprise value of EUR6.5bn. As announced in February 2015, the assets include operations mainly in Europe, Canada, Brazil and the Philippines (see below). The acquisition remains conditional upon successful completion of the merger of Lafarge and Holcim as well as the completion of local asset reorganisations. The acquisition is expected to complete in the second half of 2015. ... |
Weaker Brazil markets depress Cimpor's profits20 May 2015, Published under Cement NewsCimpor has reported a first quarter turnover 7.4 per cent higher at EUR636.6m but the EBITDA declined by 7.2 per cent to EUR123.4m. The trading profit (EBIT) was 17.6 per cent lower at EUR74m. The net financial charge declined by 18.9 per cent to EUR75.3m to give a pre-tax loss of EUR1.3m, compared with EUR3.1m a year earlier. At the net attributable level there was a loss of EUR17.2m, compared with a loss EUR10.8m a year earlier. Net debt was 0.6 per cent lower at EUR3522m, but the gear... |
Fitch downgrades Cimento Tupi's Ratings13 May 2015, Published under Cement NewsFitch has downgraded its rating for Cimento Tupi to ‘C’ following the Brazilian cement company’s announcement that it will miss its US$9m interest payment on its US$185m of senior unsecured notes due in 2018. The downgrade reflects Tupi's inability to pay its coupon payment which will enter a 30 day cure period on its outstanding notes, Fitch said in a statement. Tupi hired investment bank Rothschild as its investment advisor as the company seeks relief from its high level of interest expe... |
Votorantim Cimentos issues EUR500m in European bonds08 May 2015, Published under Cement NewsVotorantim Cimentos SA announces the issuance of its Euro-denominated bond, representing the first issuance since November 2014 by a Brazilian company in the international capital markets in 2015. The issuance followed three days of investor meetings in London, Amsterdam, Munich and Frankfurt, which resulted in an issuance of €500 Euro-denominated notes due 2022 bearing interest at the rate of 3.5 per cent per annum. Despite intraday volatility in global capital markets, this successful is... |
Votorantim07 May 2015, Published under Cement NewsVotorantim Cementos has announced a US$1600m investment programme that involves five new cement plants in Brazil, two in Turkey and one in Bolivia as well a the expansion and modernisation of a number of existing facilities. These investments cover the 2015 to 2018 period. These projects will add 6Mta of capacity in Brazil and 2.5Mt elsewhere. Longer-term, additional capacities are also being considered for the USA and Morocco. |
Votorantim Cimentos preps euro trade07 May 2015, Published under Cement NewsBrazil's leading cement producer, Votorantim Cimentos, announced a new seven-year benchmark euro trade to be priced as early as this week. The deal is expected to be leverage-neutral as proceeds will be used to refinance existing debt, Moody's said. As positives, the rating agency cites the company's strong credit metrics and importance to parent Votorantim Industrial, to which it contributed about 49% of total EBITDA generation last year. On the downside, corruption investigations have im... |
Semapa acquires 50% stake in Supremo Cimentos06 May 2015, Published under Cement NewsSemapa and Secil, through its Brazilian subsidiary, entered into an agreement for the acquisition of a 50 per cent stake of the Brazilian company Supremo Cimentos. With this acquisition, the companies now indirectly hold the entire share capital of the Supreme. "Our subsidiary of Brazilian law, NSOSPE Empreendimentos e Participações, owned jointly by Semapa and Secil - Companhia Geral de Cal and Cement entered into an agreement for the acquisition of the 50 per cent of the share capital of ... |
Brazil: CSN considering merger with cement unit13 April 2015, Published under Cement NewsBrazilian steelmaker CSN is considering a merger with its subsidiary CSN Cimentos, Business News Americas reported. CSN, in a regulatory filing, said it would present the proposal to shareholders for approval. The merger would help CSN achieve synergies and economies of scale. It would result in "process optimisation and maximised results," with all business and administrative activities carried out via a "single organizational structure," CSN said. The net worth of CSN Cimentos is BRL1b... |