Cement News tagged under: Latin America

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Argos sees high 1Q21 cement volumes in Colombia and Central America

11 May 2021, Published under Cement News

In the 1Q21 Argos recorded consolidated income of US$651.6m and EBITDA was US$125.1m. This was thanks to better dynamics in all markets and a lower comparison base in Colombia, and the Caribbean and Central America.   Cement volumes reached 4.1Mt, thus representing an increase of 19 per cent compared to the 1Q20. Cconcrete shipments totalled 2Mm 3 , with a decrease of 4.4 per cent, mainly caused by weather conditions in the USA and a slower recovery of formal construction in Colomb...

Grupo Argos formalises COP392bn sustainable linked loan

28 April 2021, Published under Cement News

Grupo Argos and Bancolombia signed the first loan agreement tied to sustainability indicators in Colombia, where the interest rate is tied to the company’s performance on gender equality and climate change, in a financing agreement that modifies current conditions for close to COP392bn (US$106m) in debt and will have a five-year maturity. In this regard, the operation does not increase Grupo Argos' current levels of indebtedness.   This transaction recognises Grupo Argos' track record an...

The search is on for new investors in Brazil's cement sector

23 April 2021, Published under Cement News

Brazil's cement market has been the focus of much attention in recent weeks firstly, with the completion of the CRH cement assets in the country to Companhia Nacional de Cimento (CNC), and more recently the unconfirmed reports that Banco Itau BBA is preparing to advise on the divestment of LafargeHolcim's Brazilian unit.  The sale of the Swiss multinational's cement interests in Brazil is expected to raise up to US$1.5bn, according to analysts  UBS European Building Materials . These fund...

INFORM forms joint venture with Chilean partner

20 April 2021, Published under Cement News

I NFORM , an internationally-known software development and business process optimisation specialist with US regional headquarters in Atlanta, Georgia, has set up a joint venture with its Chilean partner, Workforce Solutions SpA. The new company has officially been operating as   Indorm Software SpA since 12 April   2021.   The aim is to continue the over 50 year-long success story of I NFORM 's Digital Decision Making technology based on Operations Research and Artificial Intelligence...

Brazilian Companhia Nacional de Cimento completes the purchase of CRH Brasil assets

19 April 2021, Published under Cement News

The Brazilian antitrust authority, CADE, in accordance to the agreement disclosed on 26 October 2020, has confirmed Brazilian Companhia Nacional de Cimento’s (CNC) purchase of all the businesses of the CRH group operating in Brazil (CRH Brasil and its subsidiaries). CNC is a wholly-owned subsidiary of BCPAR, holding company in which Buzzi Unicem owns 50 per cent of the share capital in a joint venture with Grupo Ricardo Brennand. The consideration paid takes into account the price originall...

Votorantim ends 2020 with net revenue of BRL16.7bn

09 April 2021, Published under Cement News

Votorantim Cimentos ended 2020 with global net revenue of BRL16.7bn (US$2.98bn), an increase of 29 per cent compared to 2019. This result can be primarily explained by the increase in sales volume in Brazil, Canada and the USA, and by the positive impact of the devaluation of the real on the results of the other regions.   Consolidated adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) was BRL3.8bn, an increase of 43 per cent over the previous year, with ...

Votorantim's regional results rise in 2020

09 April 2021, Published under Cement News

According to the National Cement Association (SNIC) cement sales in Brazil grew 11 per cent YoY in 2020, which also boosted the recovery of prices in the local market. The growth was driven by changes in consumption patterns in the country during the pandemic that led to an increase in civil construction, by the emergency aid granted by the federal government, and by low interest rates, which also resulted in the recovery of the real estate market.   Votorantim Cimentos’ net revenue...

Argos launches Soluciones Verdes

18 March 2021, Published under Cement News

Argos officially launched its Green Solutions portfolio 'Soluciones Verdes' following a webinar on 17 March. The Colombian cement producer outlined how it will produce more environmentally-friendly products and services building towards a more sustainable future. The initiative aims to provide actions, products and services to reduce carbon emissions, adapting to natural phenomena, contributing to the circular economy and promoting well-being and comfort solutions.  Green cement will be a...

Argos signs COP160bn ESG-linked performance loan with BBVA

15 March 2021, Published under Cement News

BBVA and Argos (Grupo Argos) signed a long-term financing agreement through a sustainable loan in an ESG-linked format for COP160bn (US$44.8m) where the loan includes a pricing adjustment mechanism that links the interest rate to the company’s ESG performance. This transaction is the first of its kind in Colombia and constitutes Grupo Argos' debut in sustainable financing. The loan granted by BBVA in Colombia to Cementos Argos includes an adjustment mechanism through which the int...

Puerto Rican cement sales up 41% in January

03 March 2021, Published under Cement News

Puerto Rican cement sales surged 41 per cent YoY to 51,164t in January 2021, according to Sin Comillas. Cement sales in the country have been rising sharply for nine months. In 2020 deliveries advanced 2.8 per cent to 588,400t when compared with 2019. However, cement output from domestic cement plants dropped 33.2 per cent to 23,493t in January – the sixth-consecutive fall. In 2020 production fell 14.6 per cent YoY.