Cement News tagged under: Cimpor
Camargo Corrêa in Cimpor bid06 April 2012, Published under Cement NewsCamargo Corrêa and Brazilian competitor Votorantim Cimentos SA bought separate stakes in Cimpor in early 2010. Camargo currently claims to hold around a 33.25% stake in Cimpor and is its largest shareholder ahead of Votorantim with a current 21.2% interest, but has an option to increase this to 30.8%. Votorantim is reportedly considering teaming up with Camargo for a joint bid, although the latter denies that any such agreement has been made. Given Votorantim’s dominant market share in Brazi... |
Camargo Correa bids for Cimpor02 April 2012, Published under Cement NewsCamargo Correa has announced a €2480m bid for Cimpor at €5.50 per share, a 10% premium on the pre-offer share price. InterCement Austria, a wholly-owned subsidiary of Camargo Correa is being used as the bid vehicle. Camargo Correa is currently the sixth-largest cement producer in Brazil, and market leader in Argentina, while Cimpor is the number four in Brazil. Together, the two companies would form the second largest in Brazil, but would still be less than a third of the size of market lead... |
Cimpor full-year 2011 boosted by emerging markets01 March 2012, Published under Cement NewsIn its full-year 2011 results, Cimpor reported that Brazil continues to be its main contributor to growth, however, recoveries in Mozambique, Turkey and China helped offset significant declines in Portugal and Egypt. Diversification and a presence in emerging markets helped Cimpor achieve EBITDA of EUR616m which is down 2.2 per cent YoY despite economic contractions in Iberia and difficulties arising from the political situation in Egypt, the group said. Turnover increased by 1.6 per cent... |
Cimpor financing needs covered to end-201329 February 2012, Published under Cement NewsCimpor, Portugal’s leading cement producer, has said it has covered all its financing needs until the end of 2013, Chief Financial Officer Antonio Valera said at a conference today. If Cimpor issues new bonds it will do so to cover financing needs for 2014 onwards, Bloomberg reported Mr Valera as saying. |
Shriram EPC to enter cement business through acquisition21 February 2012, Published under Cement NewsShriram EPC, part of the financial services major Shriram Group, is expected to enter the Indian cement sector by picking up a majority stake in Sree Jayajothi Cement, according to local press reports. Should the move be approved, Cimpor is thought to be in line as the group seeks a strategic European investor. Shriram EPC's board is said to have approved acquiring a significant equity share capital of the cement producer by partially converting the dues owned by Sree Jayajothi into equit... |