Cement News tagged under: investment

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Votorantim to invest in Spanish plant

04 February 2016, Published under Cement News

Votorantim 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...

Peru: Soboce approves BOB487.2m to continue growth

23 November 2015, Published under Cement News

An extraordinary shareholders meeting of Sociedad Boliviana de Cemento (Soboce) has approved to reinvest BOB487.2m (US$790.9m) and raise its paid-up capital to continue its investment plans and growth in the domestic market. As a result, Soboce’s paid-up capital will more than triple from BOB196.6m to BOB683.8m. The company’s net profit in the year ended June 2015 reached BOB141.4m, representing a 13.5 per cent fall YoY.

Votorantim

07 May 2015, Published under Cement News

Votorantim Cementos has announced a US$1600m investment programme that involves five new cement plants in Brazil, two in Turkey and one in Bolivia as well a the expansion and modernisation of a number of existing facilities. These investments cover the 2015 to 2018 period. These projects will add 6Mta of  capacity in Brazil and 2.5Mt elsewhere. Longer-term, additional capacities are also being considered for the USA and  Morocco.

Votorantim announces 2015-18 investment plan

03 April 2015, Published under Cement News

Votorantim Cimentos announces a new investment package which will see BRL5bn (US$1.6bn) invested in five new factories in Brazil, one in Turkey and one in Bolivia, as well as in the expansion and modernisation of existing units in the 2015-18 period. The announcement comes after the company's 2007-14 BRL10bn investment plan through which the company expanded its global production capacity by 51 per cent. In Brazil, the priority is to increase production in the central-north and northeast ...

Cementos Argos

02 March 2015, Published under Cement News

Cementos Argos has reported a 58.8 per cent rise in profit in 2014, coming in at COP291bn (US$145m), compared to COP183bn in 2013. The growth, which was driven by domestic sales, is expected to continue in 2015 due to the Colombian government’s spending commitment on public housing and highways. Operating income expanded by 16.8 per cent last year to US$2.9bn, while EBITDA improved by 8.4 per cent to US$534m. The US division is expected to double 2014’s EBITDA of US$68m coming in around U...

Votorantim

02 February 2015, Published under Cement News

In the US, Brazil-based Votorantim is considering investing some US$130m in its Charlevoix, Michigan, cement works to raise its capacity from 1.3Mta to 2Mta. Alternatively, it may choose to re-open its Dixon, Illinois, works that was closed as the market deteriorated.

Ecuador: Peru’s Cementos Yura buys stake in Unión Cementera Nacional

26 January 2015, Published under Cement News

Cementos Yura, part of Peru’s Grupo Gloria, has acquired a 63.5 per cent share in state-owned Unión Cementera Nacional of Ecuador, which will hold the balance of shares. The $230m investment will be disbursed to the Ecuadorian cement producers via a trust over the next 40 months, during which the construction will take place of a new 2400tpd clinker production line in Riobamba. "We will participate in this company with this contribution and are very optimistic that this will benefit t...

Votorantim

06 January 2015, Published under Cement News

Votorantim’s Spanish subsidiary Cementos Cosmos has announced that the Toral de los Vados cement works is set to increase shipments by some six per cent in 2014 to 0.67Mt. Of this, exports will account for around 185,000t with 53,000t going to Haiti, 44,000t to Ghana and 35,000t to Brazil. EUR2.5m is being invested during December to improve efficiency.

In search of stabilisation

07 November 2014, Published under Cement News

After reaching a peak in 2011, Moroccan cement demand has weakened and since 2012 initiated a slowdown that has continued through 2014.  Mohamed Chaïbi, president of the Association Professionnelle des Cimentiers (APC), speaks to ICR about the current status and expected trends for the domestic market and production base. Mohamed Chaïbi, chairman of the Association Professionelle des Cimentiers, explains how the Moroccan cement industry has continued to press ahead in the face o...

PPC Zimbabwe to invest US$86m in extra capacity

24 October 2014, Published under Cement News

PPC Zimbabwe announced a US$86m investment package in Zimbabwe over the next three years as it expects rising cement demand due to infrastructure projects despite a generally stagnating building sector. The funds are earmarked for manufacturing capacity and equipment. Road-building projects and exports to Zambia, Malawi and Mozambique are generating “significant” demand, according to the company’s MD, Lekula Njombi. The cement producer also expects to supply product to private-sector powe...