Cement News tagged under: Cimpor

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Cimpor and InterCement announce Brazil asset merger

05 February 2013, Published under Cement News

Cimpor’s board of directors has approved the merger of two of its subsidiaries in Brazil, namely Cimpor Cimentos do Brasil and InterCement Brasil, Cimpor announced. Both companies are fully and indirectly owned by Cimpor, which itself is controlled by Brazil's Camargo Corrêa. The merger was approved on 30 January 2013. "The merger of these two companies in the Cimpor universe will make it possible to create joint value, promoting synergies, leading to improved operating efficiency and quali...

New Sofala plants to start operating in 2013, Mozambique

16 January 2013, Published under Cement News

Two cement factories being constructed in the Sofala province of Mozambique are set to start operating by the end of this year. The cement plants are being built in the cities of Beira and Dondo, Jose Ferreira, provincial director for Industry and Trade tol local radio station, Radio Mocambique. Work is also underway to build a new kiln line at the Dondo works which is owned by Portuguese cement major Cimpor. Three further factories are also planned for the Sofala province, Mr Ferreira...

Cimpor announces members of board of directors, Portugal

07 January 2013, Published under Cement News

Cimpor announced that Luiz Roberto Ortiz Nascimento and André Pires Oliveira Dias have been appointed members of the Board of Directors, following the resignation of Erik Madsen and Walter Schalka.

Cimpor

04 January 2013, Published under Cement News

Cimpor has concluded its assets exchange with its majority shareholder InterCement Austria Holding, whereby Cimpor acquired the assets held by Camargo Corrêa, InterCement Austria's ultimate parent, in Argentina, Brazil, Paraguay and Angola in exchange for the Cimpor assets in Morocco, Tunisia, Turkey, India, China and Peru as well as most of the activities in Spain and 21.21 per cent of Cimpor's net debt. InterCement Austria subsequently exchanged those assets and liabilities with Votoranti...

Cimpor, Camargo Correa transaction moves ahead

24 December 2012, Published under Cement News

The board of Cimpor has approved a swap of shares of its holding InterCement, paving the way for Camargo Correa to purchase the 21,2% stake held by Votorantim Cementos on Cimpor, according to reports in Valor Economico. InterCement is passing on the Cimpor 17 cement plants involving assets worth EUR817.1m and is receiving from InterCement assets worth EUR1199bn. The swap was coordinated by Morgan Stanley and Rothschild. The next step is to wind up the deal with Votorantim to collect EUR5....

Sociedad de Cementos y Materiales looks to cut 35 jobs

19 December 2012, Published under Cement News

Spanish cement and building materials producer Sociedad de Cementos y Materiales de Construccion de Andalucia, is reportedly planning to lay-off 35 members of staff. The company, which is controlled by Portuguese cement major Cimpor, is currently negotiating with its employees and trade unions, according to reports by Expansión. The downsizing measure will affect 25 employees at its Cordoba works and 10 employees at the factory in Niebla. The firm currently employees a total 142 people....

Mozambique is Cimpor’s star performer

04 December 2012, Published under Cement News

For the first nine months of 2012, Cimpor’s cement and clinker shipments were 9.4 per cent lower at 18.82Mt, as volumes dropped by just over one -third both in Spain and China while Mozambique proved to be the company's star performer.  The assets to be retained by Cimpor as a result of the agreement between the major shareholders for splitting the Cimpor assets, were actually 0.7 per cent higher at 10.97Mt. Turnover for the nine months to September 2012 was down by 1.6 per cent to €1170....

Cimentos de Moçambique to invest in storage and bagging facilities

08 November 2012, Published under Cement News

Cimentos de Moçambique, part of the Cimpor group, plans to invest in a new silo and bagging facility at its Nacala-Porto plant in Nampula province, according to local press reports. The company’s director, Marcelino Manhera, said that the company plans to construct a 1000t silo as part of the announced investment. It will also buy a new bagging machine to equip its plant with modern technology to increase the speed of bagging the cement produced at the unit with a nominal capacity of 750tpd...

Iberian impairments push Cimpor into a loss

31 August 2012, Published under Cement News

Cimpor’s first half turnover declined by 5.5 per cent to €1086.8m, as the deterioration in Spain, Portugal and China could not be compensated for by improvements elsewhere. EBITDA was down by 15.3 per cent to €267.4m. The deterioration on the Iberian peninsula led to provisions of €270m being taken in respect of the Spanish assets and a further €20m against the downstream assets in Portugal, giving a total value adjustment charge of €407.2m compared with €117m. This led to a trading loss ...

Holcim could face 20% fine, Brazil

25 July 2012, Published under Cement News

Holcim may be issued with a fine this year for price fixing practices in Brazil, a third less than the maximum that was expected, BusinessWeek reports. Brazil’s antitrust regulator Cade is expected to issue a penalty of 20 per cent of Holcim Brasil’s 2005 revenue, according to a source familiar with the matter.  Holcim may receive a fine of as much as 30 percent of Brazil revenue in that year, Roland Walker, a company spokesman, said in an e-mail, declining to give the sales figure. C...