Cement News tagged under: Chile
Cemento Polpaico slips into loss06 March 2018, Published under Cement NewsChile’s Cemento Polpaico informed the country’s Financial Markets Commission (CMF) it registered losses of CLP1.042bn (US$1.74m) in 2017. The new income figure is a sharp reversal of the profit of CLP3.793bn reported in 2016. Sales reached CLP135.316bn in 2017, down 3.5 per cent YoY, when compared with sales of CLP140.187bn in 2016. |
Hurtado Vicuña looking for merger support05 March 2018, Published under Cement NewsChilean holding Grupo Hurtado Vicuña will seek support from small shareholders for a merger of its Cementos Bicentenario (BSA) with Cementos Polpaico. The merger is expected to create Chile’s largest cement company, overtaking Cemento Melon and Cementos Bío Bío. The group’s share in Cementos Polpaico currently stands at 57.1 per cent. Volcan and Megeve could complicate the merger, according to Esmerk. To enable the merger to go ahead Hurtado Vicuña has also had to agree to sell some B... |
Cemento Melon reports 14% decrease in 2017 sales20 February 2018, Published under Cement NewsChile’s Cemento Melon saw its sales decrease by 14 per cent to US$298m in 2017 from US$345m in 2016. The company’s profit declined 54 per cent to US$14m from US$30m in 2015 due to lower sales of cement and concrete. The company has attributed the slide by the poor performance of the country’s construction sector, which contracted by three per cent. |
Invesa raises Bío Bío stake18 January 2018, Published under Cement NewsFollowing the launch of a public offer to buy 54,208,259 shares in Cementos Bío Bío (CBB) last month, Inversiones y Desarrollos (Invesa) has confirmed it has increased its stake in the Chilean cement producer to 39.5606 per cent. Invesa paid CLP847 (US$1.40)/share for the recently-bought 0.0448 per cent stake. In November it had acquired a 13.1 per cent share in CBB from Brazil-based Votorantim for around US$46m. Taking into account the shares held by other businesses of the Invesa fam... |
Hurtado Vicuña on the verge of completing required divestment10 January 2018, Published under Cement NewsGrupo Hurtado Vicuña is expected to be soon completing the divestment of a part of Cementos Bicentenario (BSA) assets, one of the main conditions imposed by Chile’s Fiscalia Nacional Economica (FNE) and its anti-competition authority, TDLC, in terms of the company’s acquisition of Cementos Polpaico shares. Certain sources suggest that offers have been received for the BSA assets and that due diligence has started with a deal likely to be completed before the end of this month, reports El ... |
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... |
Cemento Melon sees 57% 3Q profit drop30 November 2017, Published under Cement NewsCemento Melon, Chile, reported a 56.8 per cent drop YoY in profits to CLP5bn in 3Q17. Sales have fallen 13.6 per cent to CLP136.5bn when compared with the year-ago period, when revenues reached CLP108.669m. The cement producer has attributed the decrease to a contraction in the construction market. The company, which is owned by the Peru-based Brescia Group, said the fall in sales has been partially offset by a greater focus on margins and the introduction of operational efficiency pl... |
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... |