Cement News tagged under: Intercement

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InterCement: today and beyond

05 August 2020, Published under Cement News

Brazilian cement major InterCement has built up a substantial international industry portfolio. In light of the latest global developments, Flavio Aidar, CEO of InterCement, shares an insight into the company’s recent performance, including the impact of COVID-19 on operations, updates on its activities in South America and Africa, and future goals. Flavio Aidar, CEO of InterCement ICR: COVID-19 is now a huge challenge facing the world. Are you and your team safe and well? ...

NPC goes into lockdown to stop spread of coronavirus

27 March 2020, Published under Cement News

South Africa-based NPC, part of the InterCement group, has announced the shutdown of its industrial operations and commercial activities following the 21-day complete country lockdown announced by the country’s government to halt the spread of COVID-19. The company expressed in a letter its support for the government’s actions and encouraged the community to follow the lockdown rules and was confident it would overcome the challenge together. NPC operates 1.8Mta of cement capacity  in a...

Time for a Brazilian adventure?

28 May 2019, Published under Cement News

Following the entry of Titan Cement into Brazil in 2016, fellow multinational cement producers Vicat and Buzzi Unicem have recently stepped into the local cement market despite the country’s falling cement demand last year. Others may follow this trail if Brazil’s cement market shows further signs of growth in 2019, but timing will be key. While cement demand declined in 2018, forecasts for 2019 indicate better times ahead Brazil remains one of the largest cement markets in the ...

Loma Negra net revenue edges up 4% in 1Q19

10 May 2019, Published under Cement News

Argentina’s Loma Negra, part of InterCement, reported a 3.6 per cent YoY increase in net revenue to ARS7.428m (US$183m) in the first quarter of 2019 on the back of expanding concrete sales in Argentina and growth in cement revenues in Paraguay. Consolidated adjusted EBITDA was 17.9 per cent higher YoY to ARS2.136m in the 1Q19, mainly due to cement, masonry and lime business in the domestic market but also as a result of expansion in the main other segments. In addition, it was partially of...

Loma Negra to cut 265 jobs

09 May 2019, Published under Cement News

Argentine cement producer Loma Negra, part of the InterCement Group, has announced that it plans to cut 265 jobs in its Barker cement plant Barker, Buenos Aires province. Currently the plant employs 330 staff. The company attributes the personnel reduction to the economic recession. The government is currently negotiating a solution, according to Esmerk Latin American News.

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...

InterCement sells Portugal operations in further deleveraging

29 October 2018, Published under Cement News

To help reduce its indebtness, InterCement is leaving the European market. Controlled by Mover Participações (current holding company of the Camargo Corrêa group), the company agreed on Friday to sell its cement and concrete operations in Portugal and Cape Verde to Turkish group Oyak, according to Valor International. While the price of the divestment was undisclosed, the deal is believed to have cost a little over US$800m, according to industry analysts. The divestment will see the owner...

InterCement IPO set for 2019

31 July 2018, Published under Cement News

Brazil's InterCement Participações SA of Brazil plans an initial public offering (IPO) of its operations in Europe and Africa early next year, reports Reuters. InterCement would sell up to 49 per cent of the unit, which will group the activities in these countries, the sources added. In a statement to Reuters, InterCement confirmed the IPO plans. "InterCement is considering an IPO of its assets in Portugal and Africa, proceeding with the deleveraging process that has been publicly announ...

Loma Negra to invest US$350m in new L'Amali line

14 December 2017, Published under Cement News

InterCement-owned Loma Negra will invest US$350m in a brownfield expansion of its L'Amali plant in Olavarría, Buenos Aires province, Argentina, the company announced in a meeting with the President of Argentina, Mauricio Macri. The investment will boost the company's domestic capacity by 40 per cent. The new production line, which will add 2.7Mta of annual capacity, will consist of a new state-of-the-art kiln, two vertical roller mills to grind raw materials and cement as well as a compl...

InterCement for sale?

31 March 2017, Published under Cement News

Once again, there is speculation that Camargo Corrêa, the Brazilian conglomerate, is seeking to dispose of InterCement, its subsidiary and controlling shareholder of Cimpor SGPS. In mid-2015 the indebted Camargo Corrêa, which derives 42 per cent of its revenues from InterCement, had looked to sell a stake in the subsidiary, and more recently new suitors have emerged. To reduce its net debt burden, which stood at four times its EBITDA of 2015, InterCement has slowly been divesting non-cor...