Cement News tagged under: Cementos Bio Bio
Invesa to consolidate Bío Bío majority18 December 2017, Published under Cement NewsChile’s Inversiones y Desarollos (Invesa) officially launched a public offer to acquire 54,208,259 shares in Cementos Bío Bío. In November Invesa acquired a 13.1 per cent stake in the cement producer from Brazil-based Votorantim for around US$46m, increasing its total share to 39.51 per cent. Taking into account the shares held by other Invesa businesses, the group would raise its stake in Cementos Bío Bío to 79.48 per cent. Including the public offer, Invesa will have spent a tot... |
Cementos Bío Bío seeks improvement with innovation index04 December 2017, Published under Cement NewsCementos Bio Bío (CBB) of Chile has begin a collaborative project with Innspiral, the first accelerator of corporate innovation in Chile and Latin America. The aim is to engender innovation on a corporate level using an innovation intensity index. The cement company will formalise the measurement of its innovation performance, using an Innovation Intensity Index (i3), created by Innspiral. As a result, CBB will become the first of its industry in Latin America to measure the contribution... |
Votorantim gets cold feet in Chile01 December 2017, Published under Cement NewsThis week saw a change in the stakeholder share in Chilean producer Cementos Bio Bio with Brazil-based Votorantim selling 13.1 per cent of the shares in the company to the Briones family. The divestment leaves Votorantim with an approximately 3.6 per cent stake in the Chilean cement producer, while the Briones family sees its interest increase to 39.52 per cent. The move signals that Votorantim is looking to extract itself from a market that no longer appears attractive to the Brazilian ma... |
Chile's Briones family hikes Bío Bío stake28 November 2017, Published under Cement NewsThe Briones family has decided to acquire a further 13.1 per cent stake in Cementos Bío Bío SA from Votorantim for more than CLP29bn (US$45.5m), according to Chilean daily La Tercera. This purchase would bring the Briones stake to 39.52 per cent, making it the largest shareholder in the Chilean cement producer, followed by a 19.03 per cent stake held by other members of the Briones family. Citing informed sources, La Tercera reported that Votorantim had approached the Chilean business... |
Bío Bío to stop clinker production at Talcahuano10 July 2017, Published under Cement NewsCementos Bío Bío announced it will cease to produce clinker at its Talcahuano plant in Chile and instead import clinker from Asia. The decision was taken following several attempts to improve profitability at the works and deliver a competitive product. The closure of the plant’s clinker production department is expected to lead to some 40 redundancies, according to Santiago-based news service Cambio 21. |
Cementos Bío Bío sees 42% drop in 1Q profits31 May 2017, Published under Cement NewsChilean cement producer Cementos Bío Bío reported a 41.6 per cent reduction in first-quarter revenues to CLP67.93m (US$100,704) from CLP76.84m in 1Q16, according its report to the Superintendency of Securities and Insurance (SVS). EBITDA fell from CLP30.03m in the first three months of 2016 to CLP26.05m in Jan-Mar 2017. Net profit nearly halved from CLP4.43m to CLP2.59m. |
Chile's changing market02 December 2016, Published under Cement NewsThis week Cementos Bio Bio announced its 9M16 profits had been hard hit by foreign exchange rates and a similar story was given by Cemento Polpaico, even though it quadrupled its new profits YoY. But beyond these recent results, the industry is embarking on a period of significant transition. Chile's cement market recorded its lowest sales growth in 1H16, reaching US$514bn as Cementos Melon, Polpaico and Bio Bio clawed in sales that were up just 3.7 per cent on the same period in 2015. ... |
Chile: Cementos Bío-Bío sees 8.6% profit slip in 9M201630 November 2016, Published under Cement NewsChilean cement producer Cementos Bío-Bío reported a 3.3 per cent rise in profits to CLP221.5bn (US$329m) in the January-September 2016 period from CLP214.5bn in 10M15. However, a rise in the cost of sales and financing as well as a foreign exchange loss saw the company with sharply reduced profits. Net profits reached CLP13.847m in the 10-month period, down 8.6 per cent when compared with CLP15.156m with the first 10 months of 2015. |
Chile's three largest cement producers sees 1H sales rise 3.7%27 September 2016, Published under Cement NewsChile's top three cement companies - Cemento Melon, Cementos Polpaico and Cementos Bio Bio - recorded a 3.7 per cent YoY rise in sales to CLP339.82bn (USD510.48m) in the first six months of 2016. This represents the lowest growth rate in three years. Cementos Bio Bio's sales increased 6.6 per cent to CLP151.9bn as it was affected by the economic slowdown. Cementos Polpaico posted sales of CLP75.92bn, an advance of two per cent when compared with 1H15, on the back of better pricing as volum... |
Chile: Bío Bío sees 4.2% profit rise in 201531 March 2016, Published under Cement NewsChilean cement producer Cementos Bío Bío saw its profits rise by 4.17 per cent to CLP21,141.17m (US$31.32m) in 2015 when compared with CLP20,295.75m noted the previous year. Income advanced 4.45 per cent from CLP283,525.81m in 2014 to CLP296,137.8m one year later. |