Cement News tagged under: Votorantim
Cimpor04 January 2013, Published under Cement NewsCimpor has concluded its assets exchange with its majority shareholder InterCement Austria Holding, whereby Cimpor acquired the assets held by Camargo Corrêa, InterCement Austria's ultimate parent, in Argentina, Brazil, Paraguay and Angola in exchange for the Cimpor assets in Morocco, Tunisia, Turkey, India, China and Peru as well as most of the activities in Spain and 21.21 per cent of Cimpor's net debt. InterCement Austria subsequently exchanged those assets and liabilities with Votoranti... |
Votorantim04 January 2013, Published under Cement NewsDuring the first nine months of 2012, Votorantim sold 3.4 per cent more cement in Brazil, which accounted for 89.4 per cent of the group cement volume as it was at the time, or 18.49Mt. Brazilian cement prices improved by around five per cent. In North America, volumes advanced by 17.4 per cent to 2.16Mt, but the dollar price declined by 13 per cent. Turnover improved by 9.9 per cent to BRL7192m (€2633m) and the EBITDA rose by 16.2 per cent to BRL2226m (€815m). The improvement in the EBITDA ... |
Cimpor, Camargo Correa transaction moves ahead24 December 2012, Published under Cement NewsThe board of Cimpor has approved a swap of shares of its holding InterCement, paving the way for Camargo Correa to purchase the 21,2% stake held by Votorantim Cementos on Cimpor, according to reports in Valor Economico. InterCement is passing on the Cimpor 17 cement plants involving assets worth EUR817.1m and is receiving from InterCement assets worth EUR1199bn. The swap was coordinated by Morgan Stanley and Rothschild. The next step is to wind up the deal with Votorantim to collect EUR5.... |
Votorantim prepares IPO for next year - report21 December 2012, Published under Cement NewsBrazil’s largest cement producer Votorantim Cimentos is preparing an initial public equity offering (IPO) of at least US$3bn, according to a report by Bloomberg citing three sources familiar with the matter. Votorantim Cimentos hired Banco Itau BBA SA and JPMorgan Chase & Co. (JPM) to manage the deal and will include additional banks, said the source. The IPO will take place sometime next year, they said. “Such a move is not Votorantim’s actual plan,” the company said in an emailed s... |
Walter Schalka to step down as Votorantim Cimentos CEO, Brazil31 October 2012, Published under Cement NewsWalter Schalka has resigned his position as CEO of Brazilian market leader Votorantim Cimentos after seven years at the helm. Mr Schalka will leave step down at the end of November and Paulo Henrique de Oliveira Santos, director of business development at Votorantim Industrial, will temporarily chair the company. Speaking of his time at the company, he thanked the executive board of Votorantim Cimentos who "always supported me, allocating resources to implement the further growth of the co... |
New Uruguay joint venture plant investment04 October 2012, Published under Cement NewsThree cement companies are planning to invest in a new joint venture cement plant in eastern Uruguay’s Treinta y Tres department to tap export potential in neighbouring Brazil, according to local press reports. State oil and cement company ANCAP, along with Spanish cement producer Cementos Molins and Brazil’s Votorantim have filed an Environmental Impact Assessment (EIA) for a new 750,000tpa. Total costs are estimated at US$160m, with Cementos Molins contributing 60 per cent and ANCAP and... |
Brazilian market adjustments16 July 2012, Published under Cement NewsThe 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 '1206 July 2012, Published under Cement NewsAs 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 Cimpor05 July 2012, Published under Cement NewsBrazil’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 15Mta28 June 2012, Published under Cement NewsVotorantim 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, ... |