Cement News tagged under: Intercement
Loma Negra net revenue edges up 4% in 1Q1910 May 2019, Published under Cement NewsArgentina’s Loma Negra, part of InterCement, reported a 3.6 per cent YoY increase in net revenue to ARS7.428m (US$183m) in the first quarter of 2019 on the back of expanding concrete sales in Argentina and growth in cement revenues in Paraguay. Consolidated adjusted EBITDA was 17.9 per cent higher YoY to ARS2.136m in the 1Q19, mainly due to cement, masonry and lime business in the domestic market but also as a result of expansion in the main other segments. In addition, it was partially of... |
Loma Negra to cut 265 jobs09 May 2019, Published under Cement NewsArgentine cement producer Loma Negra, part of the InterCement Group, has announced that it plans to cut 265 jobs in its Barker cement plant Barker, Buenos Aires province. Currently the plant employs 330 staff. The company attributes the personnel reduction to the economic recession. The government is currently negotiating a solution, according to Esmerk Latin American News. |
A new wave of Asian overseas expansion?02 November 2018, Published under Cement NewsThis week CemNet reported on the announcement that Taiwan Cement is creating a new subsidiary, Dutch TCC Holdings, investing up to US$1.1bn in the new company. Dutch TCC Holdings is expected to enter a joint venture in Turkey with Ordu Yardimlasma Kurmu (Oyak) Holding, which will hold a 60 per cent share, while Dutch TTC Holdings will account for the balance of shares. TCC has acquired 40 per cent fo the shares of Oyak Çimento for a total value of US$640m. Oyak is reported to be willing t... |
InterCement sells Portugal operations in further deleveraging29 October 2018, Published under Cement NewsTo help reduce its indebtness, InterCement is leaving the European market. Controlled by Mover Participações (current holding company of the Camargo Corrêa group), the company agreed on Friday to sell its cement and concrete operations in Portugal and Cape Verde to Turkish group Oyak, according to Valor International. While the price of the divestment was undisclosed, the deal is believed to have cost a little over US$800m, according to industry analysts. The divestment will see the owner... |
InterCement IPO set for 201931 July 2018, Published under Cement NewsBrazil's InterCement Participações SA of Brazil plans an initial public offering (IPO) of its operations in Europe and Africa early next year, reports Reuters. InterCement would sell up to 49 per cent of the unit, which will group the activities in these countries, the sources added. In a statement to Reuters, InterCement confirmed the IPO plans. "InterCement is considering an IPO of its assets in Portugal and Africa, proceeding with the deleveraging process that has been publicly announ... |
Loma Negra to invest US$350m in new L'Amali line14 December 2017, Published under Cement NewsInterCement-owned Loma Negra will invest US$350m in a brownfield expansion of its L'Amali plant in Olavarría, Buenos Aires province, Argentina, the company announced in a meeting with the President of Argentina, Mauricio Macri. The investment will boost the company's domestic capacity by 40 per cent. The new production line, which will add 2.7Mta of annual capacity, will consist of a new state-of-the-art kiln, two vertical roller mills to grind raw materials and cement as well as a compl... |
InterCement for sale?31 March 2017, Published under Cement NewsOnce again, there is speculation that Camargo Corrêa, the Brazilian conglomerate, is seeking to dispose of InterCement, its subsidiary and controlling shareholder of Cimpor SGPS. In mid-2015 the indebted Camargo Corrêa, which derives 42 per cent of its revenues from InterCement, had looked to sell a stake in the subsidiary, and more recently new suitors have emerged. To reduce its net debt burden, which stood at four times its EBITDA of 2015, InterCement has slowly been divesting non-cor... |
Camargo reportedly selling cement unit20 March 2017, Published under Cement NewsIt has been reported by local press that Camargo Correa SA, the Brazilian family-owned conglomerate that has exited some of its businesses over the past year, has put its InterCement SA unit up for sale. According to a column in newspaper O Globo, Camargo Correa has received offers from Cemex and another unnamed Latin America-based cement producer. Globo columnist Lauro Jardim values the InterCement unit at around BRL20bn (US$6.47bn). However, when contacted by Reuters, a Camargo spoke... |
The world in 2016 and outlook for 201710 February 2017, Published under Cement NewsThis year will be a challenging year for the multinational cement companies, which are now faced by uneven economic performance in the emerging markets, combined with a new era of global political uncertainty that could further destabilise markets. On balance, however, global growth looks set to be anchored by positive trends in the major markets of China, India and the US, more than offsetting the poor performance elsewhere. The large cement majors have spent years diversifying their por... |
Camargo Correa in talks to sell stake in Argentinian cement assets09 December 2016, Published under Cement NewsReuters reports that an anonymous source has disclosed that Brazilian engineering firm Camargo Correa has opened talks with a view to selling a 40 per cent stake in its Argentinian cement firm, Loma Negra Cia Industrial. Camargo Correa has raised US$2.5bn this year from asset sales, and has been examining the feasibility of selling all or part of its stake in Loma Negra and Brazil’s InterCement for the past two years. Sources close to the company said that Camargo Correa had previously... |