Cement News tagged under: Intercement

RSS feed

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...

New order for Loesche, Argentina

04 June 2012, Published under Cement News

The Loma Negra cement factory Barker is situated close to city of Tandil in the province Buenos Aires in Argentina. For their project Barker Coal, InterCement - Loma Negra Cia. Ind. Argentina S.A. has signed an order for a vertical roller mill type LOESCHE LM 35.3 D. The objective of this project is the substitution of natural gas used for firing the rotary kilns.   The solid fuel dry-grinding plant will be designed for the grinding of coal and petcoke with product rates of 45tph  coal respe...

InterCement plans asset swap with Votorantim

07 May 2012, Published under Cement News

InterCement, the cement unit of Brazilian industrial conglomerate Grupo Camargo Correa, on Sunday provided further details regarding its bid to acquire Cimpor. Camargo Correa said it hasn't changed its March 30 offer of EUR5.5 per Cimpor share, and said that payment would be made immediately after the offer closes, in cash, according to a report by Dow Jones News Service. The company stressed that Cimpor would remain a Portuguese company, and retain the same brand, and that it would be str...

No asset sales in proposed Cimpor buyout

11 April 2012, Published under Cement News

Jose Barros Franco, chief executive of Intercement, a subsidiary of Brazil's second-largest construction group Camargo Correa does not expect to have to sell any assets if its buyout  of Cimpor goes ahead as planned. In a written reply to questions from Reuters the bid price of EUR5.5/Cimpor share was "fair", but would not say if the company would consider sweetening the offer. Portuguese conglomerate Semapa has made a proposal to major shareholders in Cimpor to try to keep it in Portugu...