Cement News tagged under: Latin America

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Votorantim faces civil action from Federal Prosecutors’ Office

29 October 2021, Published under Cement News

Votorantim Cimentos SA, has stated that it became aware, through the media, of a public civil action filed by the Federal Prosecutors’ Office of São Paulo (MPF-SP) related to the decision issued by the Brazilian Administrative Council for Economic Defense (CADE) for alleged anticompetitive practices in the scope of the administrative proceeding that was closed in October 2015.   In this public civil action, MPF-SP would require the conviction of entities and cement companies, includin...

HC Trading Americas opens Miami office and appoints General Director of Trading

18 October 2021, Published under Cement News

HC Trading Americas, LLC has a new office in Miami HC Trading Americas, LLC has recently started its operations in Miami, USA. From this location, North, Central and South America are served for all cement, solid fuels and associated raw materials. Andrew Preston joined the company as of 27 September 2021 as General Director of Trading for Americas and he leads the team in the new office in the Coral Gables area. In his position, Andrew reports directly to Dr ...

InterCement Participações completed BRL1bn debenture amortisation

05 October 2021, Published under Cement News

IInterCement Participações SA (ICP) has concluded the partial amortisation of its debentures for BRL1bn (US$180m). The transaction follows a new debt issuance from its subsidiary, InterCement Brasil SA (ICB), of the same amount in local debentures. ICB and ICB agreed on an intracompany loan agreement as well for BRL1bn. The transactions do not change either company’s consolidated debt, although it materially reduced the indebtedness of ICP stand alone, while optimising ICB’s capital...

Argentina's market resurgence

01 October 2021, Published under Cement News

Argentina's economy posted growth of 17.9 per cent YoY in the second quarter of 2021, recovering strongly after the contraction in the same period of 2020. One of the areas driving this pick-up is the construction sector, which has been seeing a resurgence in demand after the impacts of the COVID-19 pandemic last year. The country is also set to go to the polls for a mid-term election on 14 November, but the government, led by Alberto Fernandez, has already weathered a blow as opposition p...

Colombia's tax change may impact Argos valuation

30 August 2021, Published under Cement News

Colombia's Congressional Economic Committees have voted in support of the tax change proposed by Iván Duque's government, a step that could impact the valuation of domestic cement producer Argos, according to a report by UBS. The project, also known as social investment, targets an additional COP15.2bn (US$3.97m) to the state purse and UBS research expects a 35 per cent increase in corporate taxes and a 38 per cent in financial sector taxes. While the tax change is expected to improve Colo...

Votorantim Cimentos sees regional sales pick-up in 2Q21

12 August 2021, Published under Cement News

Votorantim Cimentos recorded strong sales in all operating regions in the 2Q21. Price rises and reduced restrictions from the pandemic aided beter results than in the same period last year. In Brazil Votorantim Cimentos recorded a net revenue of BRL2565m (US$494.2m) in the 2Q21, up 46 per cent from BRL1760 in the 2Q20. Adjusted EBITDA grew by 167 per cent in 2Q21 in Brazil at BRL659m compared to BRL247m in the 2Q20. "Brazil has seen 30 per cent increase in cement demand YoY,” said  Osvald...

Votorantim Cimentos records sales volume growth of 31% in 2Q21

11 August 2021, Published under Cement News

Votorantim Cimentos’ sales volume rose to 9.8Mt in 2Q21 compared to 7.5Mt in 2Q20, a growth of 31 per cent. Strong sales were recorded on all countries of the company’s operations as a result of COVID-19 vaccinations and improving market dynamics in all regions.  Osvaldo Ayres, Votorantim Cimentos’ chief financial officer, said: "The company's consolidated net revenue improved by 50 per cent, when compared to 2Q20, reaching BRL5809m (US$1107.1m) in 2Q21 mainly relating to higher volumes a...

Holcim Brazil asset sale expected

02 August 2021, Published under Cement News

LafargeHolcim (Holcim group) is understood to be considering the sale of its assets in Brazil and CSN Cimentos, Cimentos Mizu and Cement Apodi (Titan Cement joint venture) are believed to be among the potential bidders. A report by Reuters says, Holcim would be looking for proceeds if US$1-1.5bn from the sale. Reuters spoke to two people said to be in the know about the potential sale and bidders. The sale is likely to see several of the named Brazilian cement producers set to acquire par...

Cementos Argos achieves ‘outstanding’ FTSE4Good recognition

02 August 2021, Published under Cement News

Argos, (Grupo Argos) is the only Colombian company on the FTSE4Good Sustainability Index to achieve an outstanding listing in its category for its environmental, social, governance (ESG) practices among North American, European and Asian organisations.  The companies are evaluated on more than 150 indicators that cover topics such as efficient use of water, climate change, biodiversity, health and safety, labour standards, human rights and communities, fiscal transparency, corporate gover...

Votorantim: introducing higher cement production with lower CO2 emissions

23 July 2021, Published under Cement News

This week, Brazil has been the country for a lot of developments in the cement industry. In particular, Votorantim announced it had completed its new production line in Pecem, Brazil, which also highlighted the cement sector's need to make its cement production more efficient and sustainable with lower emissions. The industry still has the larger topic of carbon pricing hanging over it and the introduction of new cement capacity will highlight the issue of some of the older plants that are n...