Cement News tagged under: Cementos Bio Bio
Cementos Bío Bío sells Peruvian subsidiary11 October 2018, Published under Cement NewsChile’s Cementos Bío Bío has sold its Peruvian subsidiary, Cementos Portland, in a transaction valued close to US$14m, according to La Tercera. The departure means that it will no longer be participating in a project with Brazil’s Votorantim Cimentos to construct a plant in Lima, which has reportedly faced a number of difficulties concerning market rivals. A further two projects that the company had planned in Peru, one concerning cement and the other lime, will remain unfulfilled after th... |
Cementos Bío Bío to start production at Arica grinding plant07 June 2018, Published under Cement NewsChile’s Cementos Bío Bío is expected to start production at its Arica grinding facility by September of this year, according to Economía y Negocios. Guido Sepúlveda, manager of the company’s cement sector, confirmed that the plant will supply the markets of Tarapacá and southern Peru. "It is very important for us to get to Arica, an area we were attending from Antofagasta, and we are currently in the process of building the plant, and then starting the assembly work," he said. The wo... |
Cementos Bío Bío launches 2021 strategic plan27 April 2018, Published under Cement NewsAs cement demand in Chile remains muted and the cement industry is restructuring its operations, Cementos Bío Bío is launching its “Transforma 2021” strategic programme. The plan is to develop improved commercial, operational and innovation capabilities and enable the company to maintain its status as a key player. “This transformation that we carry out challenges the traditional model for one that manages to turn the company into a company of the future that sustainably faces the current... |
Invesa raises Bío Bío stake18 January 2018, Published under Cement NewsFollowing the launch of a public offer to buy 54,208,259 shares in Cementos Bío Bío (CBB) last month, Inversiones y Desarrollos (Invesa) has confirmed it has increased its stake in the Chilean cement producer to 39.5606 per cent. Invesa paid CLP847 (US$1.40)/share for the recently-bought 0.0448 per cent stake. In November it had acquired a 13.1 per cent share in CBB from Brazil-based Votorantim for around US$46m. Taking into account the shares held by other businesses of the Invesa fam... |
Invesa to consolidate Bío Bío majority18 December 2017, Published under Cement NewsChile’s Inversiones y Desarollos (Invesa) officially launched a public offer to acquire 54,208,259 shares in Cementos Bío Bío. In November Invesa acquired a 13.1 per cent stake in the cement producer from Brazil-based Votorantim for around US$46m, increasing its total share to 39.51 per cent. Taking into account the shares held by other Invesa businesses, the group would raise its stake in Cementos Bío Bío to 79.48 per cent. Including the public offer, Invesa will have spent a tot... |
Cementos Bío Bío seeks improvement with innovation index04 December 2017, Published under Cement NewsCementos Bio Bío (CBB) of Chile has begin a collaborative project with Innspiral, the first accelerator of corporate innovation in Chile and Latin America. The aim is to engender innovation on a corporate level using an innovation intensity index. The cement company will formalise the measurement of its innovation performance, using an Innovation Intensity Index (i3), created by Innspiral. As a result, CBB will become the first of its industry in Latin America to measure the contribution... |
Votorantim gets cold feet in Chile01 December 2017, Published under Cement NewsThis week saw a change in the stakeholder share in Chilean producer Cementos Bio Bio with Brazil-based Votorantim selling 13.1 per cent of the shares in the company to the Briones family. The divestment leaves Votorantim with an approximately 3.6 per cent stake in the Chilean cement producer, while the Briones family sees its interest increase to 39.52 per cent. The move signals that Votorantim is looking to extract itself from a market that no longer appears attractive to the Brazilian ma... |
Chile's Briones family hikes Bío Bío stake28 November 2017, Published under Cement NewsThe Briones family has decided to acquire a further 13.1 per cent stake in Cementos Bío Bío SA from Votorantim for more than CLP29bn (US$45.5m), according to Chilean daily La Tercera. This purchase would bring the Briones stake to 39.52 per cent, making it the largest shareholder in the Chilean cement producer, followed by a 19.03 per cent stake held by other members of the Briones family. Citing informed sources, La Tercera reported that Votorantim had approached the Chilean business... |
Bío Bío to stop clinker production at Talcahuano10 July 2017, Published under Cement NewsCementos Bío Bío announced it will cease to produce clinker at its Talcahuano plant in Chile and instead import clinker from Asia. The decision was taken following several attempts to improve profitability at the works and deliver a competitive product. The closure of the plant’s clinker production department is expected to lead to some 40 redundancies, according to Santiago-based news service Cambio 21. |
Cementos Bío Bío sees 42% drop in 1Q profits31 May 2017, Published under Cement NewsChilean cement producer Cementos Bío Bío reported a 41.6 per cent reduction in first-quarter revenues to CLP67.93m (US$100,704) from CLP76.84m in 1Q16, according its report to the Superintendency of Securities and Insurance (SVS). EBITDA fell from CLP30.03m in the first three months of 2016 to CLP26.05m in Jan-Mar 2017. Net profit nearly halved from CLP4.43m to CLP2.59m. |