Cement News tagged under: Brazil
Ricardo Lima to become new Cimpor CEO, Portugal25 June 2012, Published under Cement NewsRicardo Lima, currently vice president of operations of InterCement, is to be the new CEO of Cimpor following, parent company, Camargo Corrêa’s takeover of the Portuguese cement major last week. Ricardo Fonseca de Mendonca Lima has been at his current role at InterCement since 2004. Last Wednesday, Brazilian industrial conglomerate Camargo Correa completed its takeover of Cimpor, controlling 94.8 per cent of the producer after the bid. The deal will involve an asset swap with Votorantim,... |
Camargo completes Cimpor takeover, Portugal21 June 2012, Published under Cement NewsBrazilian conglomerate Camargo Correa has completed its takeover of Cimpor, now controlling 94.8 per cent of the Portuguese producer, Cimpor said in a statement on the CMVM market regulator's website. The success of the move was largely expected by analysts who will now look at the terms in which the company's assets will be split between Camargo and Votorantim. The deal includes an asset swap with Brazil-based Votorantim, Cimpor's second largest shareholder. Camargo will integrate its Sou... |
Brazil Jan-May sales rise 11.6%14 June 2012, Published under Cement NewsLatest data on the Brazilian cement market shows that for the first five months of the current year, domestic sales were 27.6Mt, a rise of 11.6 per cent YoY. For the 12 rolling months between June 2011 and May 2012, accumulated sales reached 66.8Mt. This represents an increase of 9.7 per cent on the same period the year before (June 2010-May 2011). |
Camargo Correa takeover of Cimpor to involve asset swap30 May 2012, Published under Cement NewsA takeover bid by Camargo Correa for Cimpor will involve an asset swap to buy out Votorantim, Portugal's securities regulator CMVM said on Tuesday, Reuters reports. CMVM approved the previously-announced EUR5.5/share bid under these terms and said the remaining shareholders in Cimpor would have between Wednesday and June 19 to decide whether to sell their stakes. Camargo Correa, which is already the largest single shareholder in Cimpor with a 33 per cent stake, launched a EUR2.5bn bid for ... |
Brazil may approve Camargo's Cimpor stake – report21 May 2012, Published under Cement NewsBrazil's antitrust regulator Cade may approve Camargo Correa's stake in Portuguese cement maker Cimpor Cimpor but reject the stake of rival Votorantim Cimentos, according to reports by newspaper Valor Economico. Cade has been analysing Votorantim and Camargo Correa's separate purchases of minority stakes in Cimpor since February 2010, which frustrated an acquisition attempt by Brazilian steelmaker CSN. Camargo Correa has raised its stake since then to nearly 33 percent of Cimpor. Camarg... |
Votorantim first-quarter driven by Brazilian housing and infrastructure16 May 2012, Published under Cement NewsVotorantim Industrial reported that first-quarter revenues increased for all businesses YoY, except for pulp, supported by business focused on the Brazilian market, mainly driven by housing and infrastructure. Sales volume increased in cement, nickel and pulp, while it decreased in long steel and zinc. Consolidated net revenues and Ebitda amounted to BRL5.7bn and BRL$1bn, an increase of 6% and a decrease of 20%, respectively. EBITDA margin declined from 22.8% to 15.7%, impacted by the meta... |
FLSmidth affirms 2012 outlook15 May 2012, Published under Cement NewsFLSmidth has affirmed its outlook for full-year 2012 as a strong order intake in 1Q confirms growth expectations and positive outlook. For the first three months of 2012, FLSmidth’s order intake increased 29% to DKK6421m and revenue increased 17% to DKK5145m. EBITDA rose 10% to DKK 469m. The profit for the period increased 39% to DKK 241m In terms of its cement division, the company said 1Q12 saw a very strong order intake of DKK 1,415m representing an increase of 169% compared to 1Q1... |
Camargo Correa rejects Cimpor proposal as ‘unrealistic’15 May 2012, Published under Cement NewsBrazilian conglomerate Camargo Correa has rejected Cimpor management's counter-proposal for a merger with Camargo's cement unit, saying it was "unrealistic,” Reuters reports. Cimpor's board, which had earlier said the price of EUR5.5/share offered by Camargo was too low, said on Saturday a merger would widen Cimpor's portfolio and create better synergies, preventing the withdrawal of another Brazilian shareholder, Votorantim. Its proposal involves paying up to EUR1/share in dividends to C... |
Brazil four-month sales rise 12.7%11 May 2012, Published under Cement NewsDomestic cement sales in Brazil for the first four months of 2012 reached 21.7Mt, up 12.7 per cent YoY, according to data from local association, Sindicato Nacional da Indústria do Cimento. April 2012 sales reached 5.3Mt, a rise of 10.9 per cent compared to April 2011 (4.8Mt) Accumulated sales for the rolling 12 months (May 2011 to April 2012) were, 66.3Mt, representing a rise of 10.1 per cent over the same period in the previous year (May 2010 to April 2011). |
Camargo says Votorantim to likely exchange Cimpor stake - report08 May 2012, Published under Cement NewsCamargo Correa SA said Votorantim Cimentos SA will probably accept some of Cimpor assets in exchange for its shares in the Portuguese company after rejecting a cash bid, Bloomberg reports. “There is a very strong probability that Votorantim Cimentos SA will accept this offer,” Camargo Correa’s Intercement unit said in an emailed statement. Votorantim has decided not to accept Camargo’s EUR5.5-a-share cash bid for Cimpor, it said. By splitting up some of Cimpor’s assets, Camargo Correa, Br... |