Cement News tagged under: Intercement
CSN looks to buy InterCement's Loma Negra19 September 2024, Published under Cement NewsInterCement Participações , the indirect controlling shareholder of the cement producer Loma Negra in Argentina, agreed to a new exclusivity period in favour of Companhia Siderúrgica Nacional (CSN) to continue negotiating the acquisition of 100 per cent of its shareholding. The company previously had another exclusivity period, expired as of 12 August, after two extensions. There was no renewal and negotiations were left open to the possibility of an interested third party. However,... |
Negotiations for Loma Negra sale continue despite expiration exclusivity02 September 2024, Published under Cement NewsThe potential sale of Loma Negra to CSN has entered a new phase after the exclusivity term to negotiate a deal expired on 12 August after an automatic renewal but has not been renewed since, reports Noticias Financieras. While negotiations with the Brazilian group continue, the expiry enables other companies to bid for the Argentinian cement producer. One candidate is Argentine businessman Marcelo Mindlin, owner of construction company Sacde, as he wants to vertically integrate all t... |
InterCement reaches debenture holder agreement13 May 2024, Published under Cement NewsInterCement Participaçoes SA has reached an agreement with its debentures holders to defer payments due under the series of Brazilian law-governed debentures issued by the company and issued by InterCement Brasil (ICB), which allow the company and ICB to preserve liquidity while negotiating a comprehensive finance plan. |
InterCement signs exclusivity agreement with CSN03 May 2024, Published under Cement NewsFollowing its market announcement of 23 February 2024, InterCement Participações SA announced that in the context of the competitive process, organised by Banco BTG Pactual, it has carried an agreement on 1 May 2024 to provide for exclusivity until 12 July 2024 to Companhia Siderúrgica Nacional (CSN) in terms of the potential acquisition of a 100 per cent stake in InterCement's stock. However, no document has been signed that generates any binding obligation or commitment on the part of... |
A more concise InterCement Participaçoes01 March 2024, Published under Cement NewsThe last year has seen InterCement Participacoes (Mover) work hard to divest parts of its cement business to lower its debt. It is now being courted by several leading cement producers that are looking to make bids for further of the company's assets, making it likely that more divestments will be agreed before May and July, when the Brazilian company's latest set of debts are set to mature. Last week's statement from InterCement about having "received a series of inquiries and expressions ... |
InterCement completes sale of Africa businesses28 December 2023, Published under Cement NewsInterCement Participações SA has announced that the divestment of its businesses in South Africa and Mozambique – collectively known as the ‘Africa Business’ – to Huaxin Cement Co. Ltd (China), has been concluded upon receipt of the provisional price of USD231.6m. As provided for in the previously executed Stock Purchase Agreement, the provisional price will be adjusted in due course considering net debt, other customary adjustments and working capital levels of the Africa Business. |
InterCement sells African businesses to Huaxin Cement04 July 2023, Published under Cement NewsInterCement Participações S.A . has reached an agreement with Huaxin Cement Co Ltd regarding the sale of InterCement’s businesses in Mozambique and South Africa. Following the announcement of the sale of InterCement's operations in Egypt in January 2023, the sale of the remaining Mozambique and South Africa businesses further positively contributes to the group's ongoing liability management plans and the acceleration of InterCement’s broader strategic review to return focus to its core m... |
Quarterly results propped up by steep price increases25 November 2022, Published under Cement NewsThe latest quarterly results reveal that cement producers are increasingly turning to price rises to offset the ongoing jump in energy costs, while they struggle to maintain margins. In addition to price increases, companies are reviewing their energy portfolios, fuel types and accelerating the shift to alternative fuels. In Indonesia PT Indocement saw its energy costs reach 50 per cent of total production cost in the third quarter of 2022, prompting the company to implement three price... |
InterCement posts 17% sales increase in 3Q2223 November 2022, Published under Cement NewsInterCement has reported cement and clinker sales of 5.494Mt in the third quarter of 2022, up 1.2 per cent on the same quarter a year earlier (3Q21: 5.428Mt). Total sales over the 3Q22 advanced by 16.5 per cent YoY to US$492m, driven mainly by a solid volume performance in Argentina and healthy pricing across all locations. Total EBITDA improved by 2.7 per cent YoY from US$122m in the 3Q21 to US$126m in the 3Q22, while adjusted EBITDA was up 2.1 per cent from US$127m to US$130m. Cost pr... |
InterCement records total cement and clinker volumes of 20.1Mt in 202121 March 2022, Published under Cement NewsInterCement ’s total cement and clinker volume reached 20.1Mt in 2021, an increase of six per cent in comparison to 2020, while in 4Q21 volumes were at solid 5.1Mt, stable when compared to 4Q20. In Argentina cement industry remained on a strong pace during the quarter, with Loma Negra volumes up four per cent YoY. Brazilian volumes, although declining by 3.7 per cent YoY, remained on a healthy level, backed by solid demand as result of strong backlog from housing sector and posit... |