Cement News tagged under: Votorantim Cimentos
Votorantim to invest in Spanish plant04 February 2016, Published under Cement NewsVotorantim Cimentos will invest EUR1.7m in the Toral de los Vados cement plant of its Spanish subsidiary Cementos Cosmos. The investment will fund environmental improvements as well as health and safety initiatives. Last year the Brazilian major invested around EUR1.8m in the modernisation of the facilities despite the works seeing clinker production fall by 10 per cent with further declines expected for this year. Votorantim attributed the 2015 drop due to a decrease in exports. “Our lac... |
Cementos Cosmos celebrates three accident-free years22 December 2015, Published under Cement NewsSpain’s Cementos Cosmos is celebrating three years without accidents among its workers. The Córdoba works has implemented several preventative measures over this period and its parent company, Votorantim Cimentos, has invested more than EUR1m in equipment and training to improve the company’s health and safety record. Occupational safety and health are a priority for the group, which has implemented out various prevention and awareness initiatives. For instance, the Córdoba works has init... |
Votorantim's Cubatão plant affected by steel closure17 December 2015, Published under Cement NewsFollowing the closure of the Usiminas steel works in São Paulo, Votorantim Cimentos' Cubatão cement plant will no longer be supplied with steel slag from the Brazilian steel producer. As a result, the cement works will function as distribution centre for bagged cement, maintaining the distribution for the regional market. The reason for this change is the current Brazilian macroeconomic scenario coupled with the prospect unavailability of slag in the region. The bulk cement will be provi... |
Votorantim Cimentos inaugurates Camaçari plant, Brazil01 December 2015, Published under Cement NewsVotorantim Cimentos inaugurated on 5 November its new mortar plant in Camaçari, Bahia, in Brazil’s northeast region. The unit involved an investment of BRL25m (US$6.5m) and has a capacity of 206,000tpa. "The Camaçari plant is part of a major investment plan of Votorantim Cimentos. Even with the challenging environment, we move forward with the long-term view and confidence in the development of the country and especially in the Northeast ", explains shareholder and member of the Board of V... |
Brazil: Votorantim improves co-processing rates18 November 2015, Published under Cement NewsVotorantim Cimentos’ has invested BRL12m (US$3.14m) in a co-processing project for its Cuiabá cement plant, Mato Grosso. The facility is now able to process waste materials such as old tyres, rice straw, industrial waste and sawdust, which has enabled a 65 per cent replacement of fossil fuels during manufacturing. The Brazilian cement giant has also been improving its environmental performance at the Nobres cement plant (Mato Grosso), which now uses biomass to replace 50 per cent of fossil... |
Votorantim studies Sobral waste fuel option, Brazil07 October 2015, Published under Cement NewsCurrently developing its second factory in Sobral, Votorantim Cimentos is studying the possibility of using solid waste as fuel in a new venture in the city. The idea was presented during a meeting between company directors and the governor Camilo Santana, and secretaries and the president of the Ceará State Development Agency (Adece), Ferruccio Feitosa. The government, moreover, was favourable to the initiative, since the measure benefits the environment. "They are still in a preliminar... |
Brazil: Cade issues fines of US$934m30 July 2015, Published under Cement NewsBrazil's antitrust watchdog, Cade, has ordered six cement makers named in a price-rigging case to pay a combined BRL3.1bn (US$934m) in fines within a month in a landmark decision that also orders asset disposals. Under terms of the ruling, Votorantim must pay BRL1.5bn in fines and Cimpor BRL297m. Cade fined Intercement Brasil BRL241m and Itabira BRL411m. Holcim's fine amounts to BRL508m and Itambé is required to pay BRL88m. The decision announced on Wednesday gives the companies a one-y... |
Votorantim Cimentos issues EUR500m in European bonds08 May 2015, Published under Cement NewsVotorantim Cimentos SA announces the issuance of its Euro-denominated bond, representing the first issuance since November 2014 by a Brazilian company in the international capital markets in 2015. The issuance followed three days of investor meetings in London, Amsterdam, Munich and Frankfurt, which resulted in an issuance of €500 Euro-denominated notes due 2022 bearing interest at the rate of 3.5 per cent per annum. Despite intraday volatility in global capital markets, this successful is... |
Votorantim Cimentos preps euro trade07 May 2015, Published under Cement NewsBrazil's leading cement producer, Votorantim Cimentos, announced a new seven-year benchmark euro trade to be priced as early as this week. The deal is expected to be leverage-neutral as proceeds will be used to refinance existing debt, Moody's said. As positives, the rating agency cites the company's strong credit metrics and importance to parent Votorantim Industrial, to which it contributed about 49% of total EBITDA generation last year. On the downside, corruption investigations have im... |
Fitch reaffirms Votorantim Cimentos ratings07 April 2015, Published under Cement NewsFitch Ratings reaffirmed Votorantim Cimentos’ BBB rating and changed the company’s outlook from negative to stable. “Fitch’s decision took into consideration the financial discipline of the company and its conservative debt profile, especially in light of the current challenging economic scenario in Brazil,”, said Lorival Luz, Votorantim Cimentos’ Chief Financial & Investor Relations Officer. Votorantim Cimentos’ is currently rated investment grade on a national and global scale with s... |