Cement News tagged under: Votorantim Cimentos
Votorantim Cimentos to construct two units in Ceará, Brazil27 March 2015, Published under Cement NewsVotorantim Cimentos is to build two new units in the northeastern Brazilian state of Ceará. The projects, which were presented by company directors on 24 March at a meeting with the governor Camilo Santana, will be located in Sobral and Pecém. The plants will be known as Sobral II and Pecém II and involve a total investment of BRL969m (US$302.7m). Construction of Sobral II is sceduled to start in May this year, followed by Pecém II in July this year. The state of Ceará will offer infras... |
Votorantim’s volumes slightly lower but prices improve04 March 2015, Published under Cement NewsVotorantim Industrial generated a turnover 6.9 per cent higher at BRL28,059m (€8660m) while the EBITDA rose by 31.9 per cent to BRL7105m (€2193m). Votorantim Cimentos contributed 46.5 per cent of the turnover and 50 per cent of EBITDA in 2014, with metals being the second largest contributor accounting for 32.9 per cent of turnover and 30.7 per cent of EBITDA, with steel and the mining operations in Peru accounting for the remainder. Group capital expenditure was 3.7 per cent higher at ... |
Brazil: alternative raw materials usage among 'best in the world'09 February 2015, Published under Cement NewsThe proportion of alternative raw materials used in Brazilian cement is one of the best in the world, country's leading cement producer reports, citing domestic construction industry association SNIC. “Brazil has one of the highest clinker substitution rates in the world and this is due to industry research and the development of technologies to incorporate natural substitutes and even steel industry dejects into cement manufacture”, says Edvaldo Rabelo, executive director of energy, sustai... |
UK: Votorantim interest in Tarmac29 September 2014, Published under Cement NewsVotorantim is understood to be planning a bid for a package of businesses being offloaded by Holcim and Lafarge, in an effort to seal a GBP32bn mega-merger that would include Tarmac, one of Britain’s largest companies. It is not known whether the Sâo Paulo-based company wants to buy all the assets being sold or cherry-pick parts in different countries. The disposals are expected to attract offers from other big players, including Ireland’s CRH and HeidelbergCement. The sell-off, valued at... |
Fitch: Votorantim Cimentos ‘backbone’ of parent rating26 August 2014, Published under Cement NewsFitch has affirmed the ratings for Votorantim and its subsidiaries, highlighting that its cement division continues to be the “backbone of the parent company's rating”. The ratings agency notes that Votorantim Cimentos (VCSA) is the key operating subsidiary of Votorantim Participacoes SA (VPAR). "VCSA is poised to improve its operating cash flows due to investments that have increased its cement capacity in Brazil from 23Mta to 32Mta since 2011," Fitch said in a statement. It projects VCSA... |
Fitch: ratings unchanged for Votorantim02 June 2014, Published under Cement NewsAccording to Fitch Ratings, the recent decision by Brazil's antitrust agency, CADE, to stiffen the penalties against Brazilian cement companies allegedly engaged in price collusion presents a significant challenge to Votorantim Cimentos (VCSA), but it will not result in a negative action to its 'BBB' rating. VCSA's Rating Outlook was affirmed by Fitch at Negative on April 8, 2014. This rating action took into consideration the possibility of a negative ruling by CADE. All six of the cemen... |
Moody's assigns a Baa3 rating to Votorantim Cimentos proposed notes due 2021; outlook stable17 April 2014, Published under Cement NewsMoody's Investors Service has assigned a Baa3 rating to the proposed up to EUR750m seven-year senior unsecured notes to be issued by Votorantim Cimentos SA. The outlook for the ratings is stable. “Votorantim Cimentos' Baa3 ratings reflect primarily the company's leading position in the Brazilian cement market, strong credit metrics, adequate liquidity, as well as its large scale and integrated operations, that translates in leading market share and above-average EBITDA margins when compare... |
Brazil: Votorantim Cimentos plans bond buyback10 April 2014, Published under Cement NewsVotorantim Cimentos yesterday unveiled plans to buy back up to US$1.03bn in overseas bonds due 2017, according to a banker close to the transaction. The bonds carried an annual coupon of 5.25 per cent and a yield of 5.32 per cent. The offer will expire 16 April. At the same time, Votorantim Cimentos hired a group of banks to coordinate a road show to promote a new debt sale, another person close to the talks said, making it the latest firm seeking to cash in on renewed appetite for emerg... |
Votorantim pulls IPO plan, Brazil13 August 2013, Published under Cement NewsVotorantim Cimentos SA withdrew plans for its multibillion dollar initial public offering on Monday citing poor market conditions. Votorantim had postponed its IPO plans in July, saying at the time that it would try again in September. However, it has deffered the option once again. "The IPO continues to be the company's plan and we will continue to monitor the evolution of the capital market conditions to be able to resume the offer," Lorival Luz, Votorantim Chief Financial Officer, said... |
Votorantim to sell Shree Digvijay stake to meet SEBI norm, India19 July 2013, Published under Cement NewsShree Digvijay Cement on Thursday said Votorantim Cimentos will dilute a 0.27 per cent stake in the company to meet the minimum public shareholding norm. “The promoter/promoter group intends to sell 0.27 per cent shareholding in the company amounting to 3,82,474 equity shares of the company on the floor of BSE,” the Gujarat-based cement maker said in a Bombay stock exchange filing. Shares would be offered for sale from 22 July - 2 August 2013, unless sold off earlier, it added. Cur... |