Cement News tagged under: Votorantim

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Brazilian market adjustments

16 July 2012, Published under Cement News

The recently-approved takeover of Cimpor by Brazilian conglomerate Camargo Correa will not only lead to the reorganisation of the Portuguese cement major's operations, but is also set to alter the make-up of the Brazilian cement market.   Last month, Camargo Correa succeeded in acquiring a controlling stake in Cimpor with a price tag of EUR2.5bn, raising its share from 33 to 94.8 per cent. Camargo is to integrate its South American and Angolan cement operations into Cimpor and according to ...

Votorantim: June '12

06 July 2012, Published under Cement News

As part of the agreed asset exchange between Votorantim and fellow Brazilian investor Camargo Corrêa, Votorantim will acquire Cimpor's interests in Morocco, Tunisia, Turkey, India and China as well as most of the assets in Spain. In return, Votorantim will cede its shareholding in Cimpor to Camargo Corrêa. Last year, the assets being acquired by Votorantim generated a turnover of EUR775m and an EBITDA of EUR152m and employed 3,670 people. These assets include 22 clinker and cement plants, 7...

Brazil competition authority approves Camargo purchase of Cimpor

05 July 2012, Published under Cement News

Brazil’s competition authority CADE has approved Camargo Correa’s purchase of a controlling stake in Portuguese cement producer Cimpor, subject to several conditions. The main condition set by the regulator is that Votorantim, Camargo’s competitor on the Brazilian market, sells its stake in Cimpor. Votorantim and Camargo Correa both bought shares in Cimpor in 2010. Through their shareholdings in Cimpor, both Camargo Correa and Votorantim increased their share of Brazil's market. Cade als...

Cimpor asset swap to lift Votorantim capacity by 15Mta

28 June 2012, Published under Cement News

Votorantim Cimentos and InterCement (part of the Camargo Corrêa Group) have signed an agreement to undertake a corporate reorganisation of Cimpor. The procedure will give Votorantim control over the Portuguese cement company's assets in seven countries and result in the full separation of Votorantim and InterCement as Cimpor shareholders. After securing approval in all legal steps foreseen for the reorganisation, Votorantim Cimentos will also go on to operate in Turkey, Morocco, Tunisia, ...

Camargo completes Cimpor takeover, Portugal

21 June 2012, Published under Cement News

Brazilian conglomerate Camargo Correa has completed its takeover of Cimpor, now controlling 94.8 per cent of the Portuguese producer, Cimpor said in a statement on the CMVM market regulator's website. The success of the move was largely expected by analysts who will now look at the terms in which the company's assets will be split between Camargo and Votorantim. The deal includes an asset swap with Brazil-based Votorantim, Cimpor's second largest shareholder. Camargo will integrate its Sou...

Votorantim

06 June 2012, Published under Cement News

The Votorantim Industrial group increased its turnover by 6.3% to BRL5738m (€2293m), but the pre-tax profit fell by 58.7% to BRL339m and capital expenditure amounted to approximately BRL760m. Votorantim Cementos represented some 57% of the group EBITDA and 52% of capital expenditure in the quarter. Cement production rose by 8.3% to 6.33Mt, of which 0.52Mt, or 8.2%, was in Canada and the United States. North American volumes rose by 24.3%, helped by a milder winter, while Brazilian cem...

Camargo Correa takeover of Cimpor to involve asset swap

30 May 2012, Published under Cement News

A takeover bid by Camargo Correa for Cimpor will involve an asset swap to buy out Votorantim, Portugal's securities regulator CMVM said on Tuesday, Reuters reports. CMVM approved the previously-announced EUR5.5/share bid under these terms and said the remaining shareholders in Cimpor would have between Wednesday and June 19 to decide whether to sell their stakes. Camargo Correa, which is already the largest single shareholder in Cimpor with a 33 per cent stake, launched a EUR2.5bn bid for ...

Brazil may approve Camargo's Cimpor stake – report

21 May 2012, Published under Cement News

Brazil's antitrust regulator Cade may approve Camargo Correa's stake in Portuguese cement maker Cimpor Cimpor but reject the stake of rival Votorantim Cimentos, according to reports by newspaper Valor Economico. Cade has been analysing Votorantim and Camargo Correa's separate purchases of minority stakes in Cimpor since February 2010, which frustrated an acquisition attempt by Brazilian steelmaker CSN. Camargo Correa has raised its stake since then to nearly 33 percent of Cimpor. Camarg...

Votorantim first-quarter driven by Brazilian housing and infrastructure

16 May 2012, Published under Cement News

Votorantim Industrial reported that first-quarter revenues increased for all businesses YoY, except for pulp, supported by business focused on the Brazilian market, mainly driven by housing and infrastructure. Sales volume increased in cement, nickel and pulp, while it decreased in long steel and zinc. Consolidated net revenues and Ebitda amounted to BRL5.7bn and BRL$1bn, an increase of 6% and a decrease of 20%, respectively. EBITDA margin declined from 22.8% to 15.7%, impacted by the meta...

Camargo says Votorantim to likely exchange Cimpor stake - report

08 May 2012, Published under Cement News

Camargo Correa SA said Votorantim Cimentos SA will probably accept some of Cimpor assets in exchange for its shares in the Portuguese company after rejecting a cash bid, Bloomberg reports. “There is a very strong probability that Votorantim Cimentos SA will accept this offer,” Camargo Correa’s Intercement unit said in an emailed statement. Votorantim has decided not to accept Camargo’s EUR5.5-a-share cash bid for Cimpor, it said. By splitting up some of Cimpor’s assets, Camargo Correa, Br...