Cement News tagged under: Brazil
FLSmidth wins orders for Cimpor projects in Brazil30 April 2012, Published under Cement NewsFLSmidth has received contracts to provide two major cement projects for Cimpor in Brazil. The expansion plans include a brand new production unit in northwestern Brazil (the Caxitu project) and a new production line at Cimpor’s existing Cezarina plant in central-western Brazil. When commissioned in 2013, the two projects will form an essential part of Cimpor Cimentos do Brasil’s current 2.3Mta expansion programme. They will help to support Brazil’s growing economy and development of infra... |
Brazil first-quarter sales rise 13.3%18 April 2012, Published under Cement NewsPreliminary data on the Brazilian cement market shows that for the first quarter of 2012, domestic sales climbed 13.3% YoY to 16.4Mt, according to Sindicato Nacional da Industria do Cimento (SNIC). Accumulated sales for the 12 month period between April 2011 to March 2012 reached 65.7Mt, representing an increase of 9.6 per cent compared to the same period of the previous year. |
Cimpor defence document rejects Camargo Correa bid16 April 2012, Published under Cement NewsThe Cimpor defence document claims that the Camargo Correa bid significantly undervalues the company. It points out that the EUR5.50 per share offer compares poorly with the EUR6.50 per share paid by Camargo Correa for the shares it acquired from Teixeira Duarte and from Bipadosa in 2010. Not only that, it is also lower than the failed EUR5.75/share bid for Cimpor by the steel company Companhia Siderurgica National (CSN) just over two years ago, that led to Camargo Correa and Votorantim ge... |
No asset sales in proposed Cimpor buyout11 April 2012, Published under Cement NewsJose Barros Franco, chief executive of Intercement, a subsidiary of Brazil's second-largest construction group Camargo Correa does not expect to have to sell any assets if its buyout of Cimpor goes ahead as planned. In a written reply to questions from Reuters the bid price of EUR5.5/Cimpor share was "fair", but would not say if the company would consider sweetening the offer. Portuguese conglomerate Semapa has made a proposal to major shareholders in Cimpor to try to keep it in Portugu... |
Fitch Ratings affirms Cimento Tupi ratings, Brazil10 April 2012, Published under Cement NewsFitch Ratings has affirmed the following ratings of Brazilian cement producer, Cimento Tupi SA's (Tupi): • Foreign currency Issuer Default Rating (IDR) at 'B' • Local currency IDR at 'B' • Senior Unsecured Notes Due 2018 at 'B/RR4'; • Long-Term National Rating 'BBB-(bra)'. Fitch said Tupi's 'B' ratings reflect its small business position, execution risks related to the change in its business model, and the volatility of its cash flow generation due to the cyclicality ... |
Cimpor acquisition good for competition06 April 2012, Published under Cement NewsThe buyout of Cimpor, Portugal, by Camargo Corrêa of Brazil would improve competition by reducing the market share of dominant player, Grupo Votorantim, according to Brazil’s antitrust regulator. "In principal, I can say that would be better than Votorantim concentrating even more of the market. But I can't say that solution is enough," said Olavo Chinaglia, the head of the Brazilian antitrust agency Cade, reported Reuters. Camargo Corrêa, the country’s second-largest construction grou... |
Camargo Corrêa in Cimpor bid06 April 2012, Published under Cement NewsCamargo Corrêa and Brazilian competitor Votorantim Cimentos SA bought separate stakes in Cimpor in early 2010. Camargo currently claims to hold around a 33.25% stake in Cimpor and is its largest shareholder ahead of Votorantim with a current 21.2% interest, but has an option to increase this to 30.8%. Votorantim is reportedly considering teaming up with Camargo for a joint bid, although the latter denies that any such agreement has been made. Given Votorantim’s dominant market share in Brazi... |
Camargo Correa bids for Cimpor02 April 2012, Published under Cement NewsCamargo Correa has announced a €2480m bid for Cimpor at €5.50 per share, a 10% premium on the pre-offer share price. InterCement Austria, a wholly-owned subsidiary of Camargo Correa is being used as the bid vehicle. Camargo Correa is currently the sixth-largest cement producer in Brazil, and market leader in Argentina, while Cimpor is the number four in Brazil. Together, the two companies would form the second largest in Brazil, but would still be less than a third of the size of market lead... |
New Brazilian cement line project signed22 March 2012, Published under Cement NewsFLSmidth has been awarded a contract worth US$83m from the company Margem Companhia de Mineração (a subsidiary of Supremo Cimentos) for delivery of equipment and services for their new cement production line in Brazil. The plant is located in Adrianópolis, in the State of Paraná, approximately 130km North of Curitiba. The scope of supply includes all major process equipment including an EV crusher, a stacker/reclaimer, ATOX mills for both raw and fuel grinding, an ILC 5-stage preheater, a... |
Semapa announces Brazil investments19 March 2012, Published under Cement NewsSemapa, a Portuguese holding company that controls cement maker Secil, will invest about EUR300m (US$394m) in Brazil’s cement industry, Diario Economico reported, citing the prospectus of Semapa’s bond sale. Semapa will invest about EUR240m in a new plant in Brazil after it agreed to buy a 50 per cent stake in Supremo Cimento SA, the Portuguese newspaper said, citing the document for the planned sale of as much as EUR150m of Semapa bonds. (Source: Bloomberg) |