Cement News tagged under: InterCement

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Camargo Correa in talks to sell stake in Argentinian cement assets

09 December 2016, Published under Cement News

Reuters reports that an anonymous source has disclosed that Brazilian engineering firm Camargo Correa has opened talks with a view to selling a 40 per cent stake in its Argentinian cement firm, Loma Negra Cia Industrial. Camargo Correa has raised US$2.5bn this year from asset sales, and has been examining the feasibility of selling all or part of its stake in Loma Negra and Brazil’s InterCement for the past two years. Sources close to the company said that Camargo Correa had previously...

Estanda surpervises Mozambique cement mill assembly

08 October 2015, Published under Cement News

Estanda reported that in August it supervised the assembly of a cement mill for Intercement's plant in Mozambique. This cement mill project incorporated design and redesign of new steel components for the improvement of the grinding process, engineering, manufacturing, supply, supervision and final validation of the assembly. Estanda highlighted that the cement mill, which has a diameter of 3.2m, incorporates new and innovative elements to improve productivity as well as reduce wear and m...

Brazil: Cade issues fines of US$934m

30 July 2015, Published under Cement News

Brazil's antitrust watchdog, Cade, has ordered six cement makers named in a price-rigging case to pay a combined BRL3.1bn (US$934m) in fines within a month in a landmark decision that also orders asset disposals. Under terms of the ruling, Votorantim must pay BRL1.5bn in fines and Cimpor BRL297m. Cade fined Intercement Brasil BRL241m and Itabira BRL411m. Holcim's fine amounts to BRL508m and Itambé is required to pay BRL88m. The decision announced on Wednesday gives the companies a one-y...

Camargo Correa reportedly looking to sell stake in InterCement

10 June 2015, Published under Cement News

Camargo Correa is looking to sell a stake in cement maker InterCement for up to BRL3.6bn (US$1.2bn) to make new overseas investments, according to a report in Brazilian daily newspaper Folha de S Paulo. Camargo Correa is looking to sell between 10-18 per cent of InterCement for between BRL2bn-3.6bh, the newspaper reported on Tuesda. Folha reported that Camargo Correa's hefty BRL8.2bn of debt had led the company to seek a minority partner in order to take advantage of opportunities to grow ...

S&P lifts Cimpor outlook from stable to positive

05 September 2013, Published under Cement News

Standard & Poor’s has reaffirmed its ‘BB/B’ long and short term rating on Cimpor and InterCement, revising the outlook from stable to positive. The change follows the Outlook revision from stable to positive, keeping a ‘BB’ rating of Camargo Correa, which indirectly controls 94.2 per cent of Cimpor share capital. According to the rating’s agency, the outlook revision to positive based on the successful integration of InterCement and Cimpor assets and on the expectation that the new cement ...

Cimpor starts exporting from Portugal to northern Brazil

15 July 2013, Published under Cement News

Cimpor has started its first exports to northern Brazil from Portugal, according to local press reports. The first shipment of 28,000t of cement has already reached the port of Manaus, northwestern Brazil, Valor Economico reported. Camargo Correa's subsidiary InterCement, which owns Cimpor, plans to import some 70,000t of Portuguese cement this year. Apart from Brazil, Cimpor seeks to expand its exports to Algeria, Togo and Paraguay amid the shrinking sales in the domestic market.

InterCement sells 52 per cent in Portuguese C+PA to Votorantim

29 April 2013, Published under Cement News

Brazilian producer InterCement has sold a 52 per cent stake in Portuguese cement and building materials maker C+PA to Votorantim. Portuguese construction group Teixeira Duarte still controls 48 per cent in C+PA, , according to Portuguese daily Diario Economico. InterCement, part of Brazilian diversified holding group Camargo Correa, indirectly controls the stake in C+PA via Portuguese cement producer Cimpor. Cimpor recognised impairments of EUR33.6m with the transaction.

Cimpor: restructured for growth

25 March 2013, Published under Cement News

Following the restructuring of Cimpor and asset swaps with InterCement Austria Holding, the Portuguese cement major is looking forward to an increased footprint in Latin America and Africa, two geographic areas with high growth potential. Essentially, Cimpor acquired the assets held by Camargo Correa, InterCement Austria's ultimate parent, in Argentina, Brazil, Paraguay in exchange for Cimpor's assets in Morocco, Tunisia, Turkey, India, China, Peru, Spain, which were subsequently transfer...

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....

Cimpor: June '12

06 July 2012, Published under Cement News

Cimpor has now become a subsidiary of the Brazilian holding company Camargo Corrêa, which currently controls 94.8 per cent of the equity. Camargo Corrêa currently controls Cimpor through its Austrian subsidiary InterCement Austria Holding GmbH. It is Camargo Corrêa's stated intention to merge all its current cement interests, effectively 8.0Mt in Argentina, where it is market leader, and 7.9Mt in Brazil, as well as cement works under construction in Angola (1.6Mt) and Paraguay (0.4Mt), with...