Cement News tagged under: Brazil
July sales rise six per cent YoY, Brazil14 August 2012, Published under Cement NewsThe latest preliminary data and market estimates from the Brazilian cement market show that domestic cement consumption in July 2012 reached 5.8Mt, up six per cent on the same month of the previous year. On a month-on-month basis, July 2012 sales were 2.9 per cent higher than June 2012. For the 12 month rolling period (August 2011-July 2012), sales were 67Mta, representing an 8.4 per cent increase compared to the same months of the previous year (August 2010-July 2011). Source: Sind... |
Lafarge: July '1203 August 2012, Published under Cement NewsLafarge's 1H turnover increased by an underlying 4.9 per cent to €7614m and the EBITDA rose by 7.8 per cent to €1523m, while the trading profit increased by 14.7 per cent to €1022m. A lower €46m gain was taken on the sale of emission permits in the period. The net attributable profit, after charging restructuring costs and writing €200m off the assets in Greece, tumbled 95 per cent to €13m. Net debt at the end of June was 12 per cent lower at €12,550m and the gearing increased slightly from... |
Holcim could face 20% fine, Brazil25 July 2012, Published under Cement NewsHolcim may be issued with a fine this year for price fixing practices in Brazil, a third less than the maximum that was expected, BusinessWeek reports. Brazil’s antitrust regulator Cade is expected to issue a penalty of 20 per cent of Holcim Brasil’s 2005 revenue, according to a source familiar with the matter. Holcim may receive a fine of as much as 30 percent of Brazil revenue in that year, Roland Walker, a company spokesman, said in an e-mail, declining to give the sales figure. C... |
Brazilian market adjustments16 July 2012, Published under Cement NewsThe recently-approved takeover of Cimpor by Brazilian conglomerate Camargo Correa will not only lead to the reorganisation of the Portuguese cement major's operations, but is also set to alter the make-up of the Brazilian cement market. Last month, Camargo Correa succeeded in acquiring a controlling stake in Cimpor with a price tag of EUR2.5bn, raising its share from 33 to 94.8 per cent. Camargo is to integrate its South American and Angolan cement operations into Cimpor and according to ... |
Brazil first-half 2012 sales increase11 July 2012, Published under Cement NewsPreliminary data for the first six months of the year, show that domestic cement sales in Brazil reached 33Mt, representing an increase of 9.3 per cent over the same period of 2011. However, sales for June 2012 were 5.3Mt, down 2.8 per cent on June 2011 figures. Cumulative sales in the rolling 12 months (July 2011-June 2012) reached 66.Mt, an increase of 8.4% over the previous period (July 10 to June 2011). Source: Sindicato Nacional da Indústria de Cimento |
Votorantim: June '1206 July 2012, Published under Cement NewsAs part of the agreed asset exchange between Votorantim and fellow Brazilian investor Camargo Corrêa, Votorantim will acquire Cimpor's interests in Morocco, Tunisia, Turkey, India and China as well as most of the assets in Spain. In return, Votorantim will cede its shareholding in Cimpor to Camargo Corrêa. Last year, the assets being acquired by Votorantim generated a turnover of EUR775m and an EBITDA of EUR152m and employed 3,670 people. These assets include 22 clinker and cement plants, 7... |
Cimpor: June '1206 July 2012, Published under Cement NewsCimpor has now become a subsidiary of the Brazilian holding company Camargo Corrêa, which currently controls 94.8 per cent of the equity. Camargo Corrêa currently controls Cimpor through its Austrian subsidiary InterCement Austria Holding GmbH. It is Camargo Corrêa's stated intention to merge all its current cement interests, effectively 8.0Mt in Argentina, where it is market leader, and 7.9Mt in Brazil, as well as cement works under construction in Angola (1.6Mt) and Paraguay (0.4Mt), with... |
Brazil competition authority approves Camargo purchase of Cimpor05 July 2012, Published under Cement NewsBrazil’s competition authority CADE has approved Camargo Correa’s purchase of a controlling stake in Portuguese cement producer Cimpor, subject to several conditions. The main condition set by the regulator is that Votorantim, Camargo’s competitor on the Brazilian market, sells its stake in Cimpor. Votorantim and Camargo Correa both bought shares in Cimpor in 2010. Through their shareholdings in Cimpor, both Camargo Correa and Votorantim increased their share of Brazil's market. Cade als... |
Fitch cuts Camargo Correa credit rating on Cimpor buy29 June 2012, Published under Cement NewsFitch Ratings has cut Camargo Correa’s credit rating by two notches on concern the increase of its stake in cement company Cimpor has raised the indebtedness of the company too much. Camargo Correa took over Cimpor earlier this month for EUR1.5bn, and the Brazilian company took on BRL4.24bn (US$2.03bn) of debt to finance the purchase, Fitch wrote. "Camargo's capital structure was already under pressure from high leverage and poor operational performance in the company's engineering and ... |
Cimpor asset swap to lift Votorantim capacity by 15Mta28 June 2012, Published under Cement NewsVotorantim Cimentos and InterCement (part of the Camargo Corrêa Group) have signed an agreement to undertake a corporate reorganisation of Cimpor. The procedure will give Votorantim control over the Portuguese cement company's assets in seven countries and result in the full separation of Votorantim and InterCement as Cimpor shareholders. After securing approval in all legal steps foreseen for the reorganisation, Votorantim Cimentos will also go on to operate in Turkey, Morocco, Tunisia, ... |