Cement News tagged under: Cimpor

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OYAK to invest in Cabo Verde

14 February 2020, Published under Cement News

The Cape Verdean government reported that Turkish cement producer, OYAK is investing in Cabo Verde for the extraction of pozzolan, volcanic rocks used in the cement industry. Pozzolan extraction in Porto Novo dates back to the colonial period, but has been stopped for over six years. Local authorities estimate that there are around 10Mt of pozzolanic deposits in the area. At the end of 2019, the Porto Novo municipality announced that there are at least two investors, of Chinese and European...

A new wave of Asian overseas expansion?

02 November 2018, Published under Cement News

This week CemNet reported on the announcement that Taiwan Cement is creating a new subsidiary, Dutch TCC Holdings, investing up to US$1.1bn in the new company. Dutch TCC Holdings is expected to enter a joint venture in Turkey with Ordu Yardimlasma Kurmu (Oyak) Holding, which will hold a 60 per cent share, while Dutch TTC Holdings will account for the balance of shares. TCC has acquired 40 per cent fo the shares of Oyak Çimento for a total value of US$640m. Oyak is reported to be willing t...

Cimpor

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 ...

Loma Negra to raise capital during positive Argentine climate

15 September 2017, Published under Cement News

Argentina's cement market has seen a revival in the last year and this week further positive indicators have been released with consumption rising by 7.4 per cent YoY during August 2017 to 1.122Mt, according to data from Asociacion de Fabricantes de Cemento Portland (AFCP). Cimpor (an InterCement Company - itself part of the Carmago Correa group), which operates in Argentina via its Loma Negra subsidiary, also commented in its 1H17 results that cement consumption in Argentina is performing ...

Cimpor's 1H volumes down 2.7 per cent

14 September 2017, Published under Cement News

Cimpor reported that first-half 2017 EBITDA growth in Argentina, Paraguay and South Africa, and to a lesser extent Portugal, mitigated adverse operating environments in the company’s other group regions. Sales of EUR921m (US$1.096bn) rose 2.6 per cent YoY. An average price adjustment of 10 per cent offset lower volumes.  EBITDA of EUR166m was 2.6 per cent lower compared to 1H16 on the back of non-recurring costs. Excluding these items, EBITDA remained stable. Cement and clinker volumes...

Loma Negra board to consider equity offering

13 June 2017, Published under Cement News

Cimpor announced that the board of directors of its subsidiary, Loma Negra (Argentina) has called for an Extraordinary General Meeting (EGM) to consider the necessary moves required for it to pursue an equity offering on the local and international capital markets. The move is among the initiatives undertaken by Cimpor “to reinforce its capital structure,” the parent company said in a statement. The EGM will be held on 3 July in Olavarría, Argentina.

Cimpor EBITDA recovers by 5%

25 May 2017, Published under Cement News

Cimpor’s first quarter turnover eased by 0.3 per cent to EUR452.9m, while the EBITDA recovered by five per cent to EUR84.1m. The trading profit (EBIT) improved by 3.1 per cent to EUR36.7m. The net financial charge came down by 18.1 per cent to EUR62.1m to give a pre-tax loss of EUR25.4m, compared with EUR40.3m a year earlier. At the net attributable level there was a loss of EUR34.4m, compared with a loss of EUR40.7m a year earlier. The net debt was 10.7 per cent higher at EUR3,3509m and...

Cimpor books larger loss in 2016

21 March 2017, Published under Cement News

With declining volumes in Cimpor's three most important markets. In Brazil, Argentina and Portugal, the turnover fell by 26.1 per cent in 2016 to EUR1842.8m and EBITDA came off by 32.9 per cent to EUR352.6m. After a EUR584m impairment charge against the goodwill carried in Brazil, the total depreciation and amortisation charge was more than trebled to EUR781.5m, giving a trading loss of EUR428.9m compared with a profit of EUR313.3m in the previous year. After a net financial charge 8.7 pe...

Portugal: Cimpor to resume cement exports from Loulé

13 January 2017, Published under Cement News

Cimpor's Loulé plant is due to resume exports via the Algarve port of Faro, Portugal. The Algarve port of Faro, which has seen no cargo movement whatsoever since June 2016 when Cimpor, the port’s only customer, stopped production at its local Loulé plant. The Loulé plant is due to resume activity in February, reports The Portugal news Online.

Cimpor hit by the weakness in volumes and currencies

18 November 2016, Published under Cement News

Cimpor's nine-month turnover fell by 28.5 per cent to EUR1379.4m and EBITDA dropped by 33.1 per cent to EUR264.6m as cement deliveries in Portugal, Brazil and Argentina declined by 35.7 per cent, 19.8 per cent and 11.7 per cent, respectively, with single-digit reductions being seen in South Africa and Egypt. Mozambique saw shipments improve by 11.2 per cent and Paraguay by 10.8 per cent. A trading loss of EUR332.3m was declared compared with a trading profit (EBIT) of EUR248.5m a year ear...