Cement News tagged under: Brazil
Fitch reaffirms Votorantim Cimentos ratings07 April 2015, Published under Cement NewsFitch Ratings reaffirmed Votorantim Cimentos’ BBB rating and changed the company’s outlook from negative to stable. “Fitch’s decision took into consideration the financial discipline of the company and its conservative debt profile, especially in light of the current challenging economic scenario in Brazil,”, said Lorival Luz, Votorantim Cimentos’ Chief Financial & Investor Relations Officer. Votorantim Cimentos’ is currently rated investment grade on a national and global scale with s... |
Votorantim Cimentos to construct two units in Ceará, Brazil27 March 2015, Published under Cement NewsVotorantim Cimentos is to build two new units in the northeastern Brazilian state of Ceará. The projects, which were presented by company directors on 24 March at a meeting with the governor Camilo Santana, will be located in Sobral and Pecém. The plants will be known as Sobral II and Pecém II and involve a total investment of BRL969m (US$302.7m). Construction of Sobral II is sceduled to start in May this year, followed by Pecém II in July this year. The state of Ceará will offer infras... |
Fitch downgrades Cemento Tupi's ratings23 March 2015, Published under Cement NewsFitch Ratings has downgraded Cimento Tupi SA's (Tupi) ratings as follows: foreign currency Issuer Default Rating (IDR) to 'CCC' from 'B-'; Local currency IDR to 'CCC' from 'B-'; Senior unsecured notes due 2018 to 'CCC/RR4' from 'B-/RR4'; --Long-term National Rating to 'CCC(bra)' from 'BB+(bra)'. The downgrade reflects the company's inability to deleverage or improve its liquidity position despite solid growth in sales volumes during 2014, Fitch writes. The rating's agency expects Tupi will ... |
Votorantim’s volumes slightly lower but prices improve04 March 2015, Published under Cement NewsVotorantim Industrial generated a turnover 6.9 per cent higher at BRL28,059m (€8660m) while the EBITDA rose by 31.9 per cent to BRL7105m (€2193m). Votorantim Cimentos contributed 46.5 per cent of the turnover and 50 per cent of EBITDA in 2014, with metals being the second largest contributor accounting for 32.9 per cent of turnover and 30.7 per cent of EBITDA, with steel and the mining operations in Peru accounting for the remainder. Group capital expenditure was 3.7 per cent higher at ... |
Cimpor sales rise 6% in 201403 March 2015, Published under Cement NewsCimpor’s turnover eased by 0.8 per cent in 2014 to EUR2603.7m while the EBITDA declined by 6.7 per cent to EUR645.6m. The trading profit emerged 7.9 per cent lower at EUR448.8 and the net financial charge declined by 8.8 per cent to EUR371.4m, giving a pre-tax profit 3.5 per cent lower at EUR77.3m and at the net attributable level there was a swing from a loss of EUR19.4m to a profit of EUR27.2m. Net debt at the end of 2014 stood at EUR3561m, an increase of 3.7 per cent, while shareholders’... |
Brazil: alternative raw materials usage among 'best in the world'09 February 2015, Published under Cement NewsThe proportion of alternative raw materials used in Brazilian cement is one of the best in the world, country's leading cement producer reports, citing domestic construction industry association SNIC. “Brazil has one of the highest clinker substitution rates in the world and this is due to industry research and the development of technologies to incorporate natural substitutes and even steel industry dejects into cement manufacture”, says Edvaldo Rabelo, executive director of energy, sustai... |
Lafarge02 February 2015, Published under Cement NewsLafarge is negotiating with CRH to sell of its assets in Germany and certain assets in the United Kingdom, the Philippines, Brazil and Réunion. |
UltraTech to not bid for Lafarge/Holcim assets13 January 2015, Published under Cement NewsUltraTech has pulled out of the race to buy cement assets up for sale as Lafarge and Holcim’s proposed merger, the Indian cement major confirmed to local press. An UltraTech spokesperson told ET Now that the company has not participated in the final round of bidding. The company had reportedly previously expressed an interest in buying assets in Brazil and Philippines and had placed a bid in the first round. The due diligence process had been conducted for assets worth around US$2bn b... |
Cementos Argos23 December 2014, Published under Cement NewsCementos Argos has pulled out of the running for any Brazilian assets being sold off following the Lafarge/Holcim merger. According to Cementos Argos, any potential purchase would not “generate the value its investments would expect”. UltraTech Cement has reportedly also followed suit with the Brazilian economy being blamed by many for the u-turn. Brazil has seen its economy shrink by 0.9 per cent in 2Q14 and a further 0.25 per cent in the third quarter. Growth of around 1.4 per cent is p... |
UltraTech re-evaluating Brazil asset bid11 December 2014, Published under Cement NewsIndian cement major UltraTech Cement is reportedly re-evaluating its decision to bid for the Brazilian assets put on the block by Holcim and Lafarge ahead of their planned merger. According to local press reports, the Aditya Birla company had submitted non-binding bids for the cement assets in October, after which binding bids are due in January. The company is now said to be “rethinking about the bids” and UltraTech Cement may “pull back at the binding stage,” sources familiar with the m... |