Cement News tagged under: Latin America
InterCement Participações completed BRL1bn debenture amortisation05 October 2021, Published under Cement NewsIInterCement 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 resurgence01 October 2021, Published under Cement NewsArgentina'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 valuation30 August 2021, Published under Cement NewsColombia'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 2Q2112 August 2021, Published under Cement NewsVotorantim 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 2Q2111 August 2021, Published under Cement NewsVotorantim 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 expected02 August 2021, Published under Cement NewsLafargeHolcim (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 recognition02 August 2021, Published under Cement NewsArgos, (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 emissions23 July 2021, Published under Cement NewsThis 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... |
Votorantim Cimentos starts operating new Pecém line21 July 2021, Published under Cement NewsVotorantim Cimentos has announced the start of operation of a new production line at its cement site in the Pecém Industrial and Port Complex, in the state of Ceará, Brazil. As a result of this expansion, the unit now has a production capacity of approximately 1Mta of cement. The volume produced in the new site will enhance the supply of the metropolitan area of Fortaleza. Votorantim Cimentos invested approximately BRL200m (US$38.26m) in the project. During construction and start of opera... |
CSN postpones IPO21 July 2021, Published under Cement NewsBrazilian cement and steelmaker CSN has postponed an initial public offering (IPO) of its cement unit which was expected to be launched in the coming days, newspaper Valor Economico has reported. CSN Cimentos had already filed a preliminary prospectus for the IPO, but it had not disclosed the amount to be raised, price per share, or a timing for the sale. Valor said CSN had decided to halt the IPO due to recent volatile market conditions, amid the spread of the new COVID-19 Delta ... |