Cement News tagged under: Camargo Correa

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01 November 2018, Published under Cement News

The Camargo Correa subsidiary InterCement, formerly trading as Cimpor, has agreed to sell its Portuguese and Cape Verde assets to the Turkish group Oyak. Having previously considered selling a 49 per cent interest in all of its African and European activities, InterCement has now decided to sell the Portuguese and Cape Verde assets in their entirely. These consist of three integrated cement plants with a combined cement capacity of 9.1Mta, two grinding plants, 40 concrete batching plants ...

InterCement IPO set for 2019

31 July 2018, Published under Cement News

Brazil's InterCement Participações SA of Brazil plans an initial public offering (IPO) of its operations in Europe and Africa early next year, reports Reuters. InterCement would sell up to 49 per cent of the unit, which will group the activities in these countries, the sources added. In a statement to Reuters, InterCement confirmed the IPO plans. "InterCement is considering an IPO of its assets in Portugal and Africa, proceeding with the deleveraging process that has been publicly announ...

InterCement for sale?

31 March 2017, Published under Cement News

Once again, there is speculation that Camargo Corrêa, the Brazilian conglomerate, is seeking to dispose of InterCement, its subsidiary and controlling shareholder of Cimpor SGPS. In mid-2015 the indebted Camargo Corrêa, which derives 42 per cent of its revenues from InterCement, had looked to sell a stake in the subsidiary, and more recently new suitors have emerged. To reduce its net debt burden, which stood at four times its EBITDA of 2015, InterCement has slowly been divesting non-cor...

Camargo reportedly selling cement unit

20 March 2017, Published under Cement News

It has been reported by local press that Camargo Correa SA, the Brazilian family-owned conglomerate that has exited some of its businesses over the past year, has put its InterCement SA unit up for sale. According to a column in newspaper O Globo, Camargo Correa has received offers from Cemex and another unnamed Latin America-based cement producer. Globo columnist Lauro Jardim values the InterCement unit at around BRL20bn (US$6.47bn). However, when contacted by Reuters, a Camargo spoke...

Camargo Correa in talks to sell stake in Argentinian cement assets

09 December 2016, Published under Cement News

Reuters reports that an anonymous source has disclosed that Brazilian engineering firm Camargo Correa has opened talks with a view to selling a 40 per cent stake in its Argentinian cement firm, Loma Negra Cia Industrial. Camargo Correa has raised US$2.5bn this year from asset sales, and has been examining the feasibility of selling all or part of its stake in Loma Negra and Brazil’s InterCement for the past two years. Sources close to the company said that Camargo Correa had previously...

Camargo Correa reportedly looking to sell stake in InterCement

10 June 2015, Published under Cement News

Camargo 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 ...

Paraguay: Yguazú risks production halt due to flooding

08 July 2014, Published under Cement News

The flooding of the Paraguay river and the Confuso river, which broke its banks, is presenting a risk to the continued production at the Yguazú cement plant in Paraguay, according to the Ultima Hora news service. The plant’s quay was out of action for about 20 days before the advance of the water as the flooding necessitated cutting off the power used to operate the crane used for unloading clinker and raw materials delivered to the works by barges. If the water reaches the electrical ...

S&P lifts Cimpor outlook from stable to positive

05 September 2013, Published under Cement News

Standard & Poor’s has reaffirmed its ‘BB/B’ long and short term rating on Cimpor and InterCement, revising the outlook from stable to positive. The change follows the Outlook revision from stable to positive, keeping a ‘BB’ rating of Camargo Correa, which indirectly controls 94.2 per cent of Cimpor share capital. According to the rating’s agency, the outlook revision to positive based on the successful integration of InterCement and Cimpor assets and on the expectation that the new cement ...

Cimpor starts exporting from Portugal to northern Brazil

15 July 2013, Published under Cement News

Cimpor has started its first exports to northern Brazil from Portugal, according to local press reports. The first shipment of 28,000t of cement has already reached the port of Manaus, northwestern Brazil, Valor Economico reported. Camargo Correa's subsidiary InterCement, which owns Cimpor, plans to import some 70,000t of Portuguese cement this year. Apart from Brazil, Cimpor seeks to expand its exports to Algeria, Togo and Paraguay amid the shrinking sales in the domestic market.

Camargo Correa plans to raise capacity by 2016

08 April 2013, Published under Cement News

Camargo Correa plans to invest up to BRL3bn (US$1.51bn) in the Brazilian cement sector in the next few years. With the acquisition and control of Portuguese cement maker Cimpor last year, Camargo Corrêa, through its cement arm InterCement, became the second largest producer of cement in Brazil, with market share being propelled from 10 to 18 per cent. With market growth in Brazi expected to be between 5-6 per cent per year in the medium-term, the company intends to invest BRL2.5bn-3bn by...