Cement News tagged under: Latin America
InterCement continues to downsize as it wrestles with debt25 August 2023, Published under Cement NewsInterCement Participacoes SA (ICP), based in Sao Paulo, Brazil, continues to off-load assets as it attempts to manage a debt pile accumulated over a decade ago when the company acquired Cimpor, in its former guise as Camargo Correa. The multinational cement company, still controls 33.6Mta capacity across markets in Argentina, Uruguay, Brazil, South Africa and Egypt, although agreements have been made for the sale of assets in Africa, following the sale of Mozambique. In recent years, t... |
Votorantim Cimentos reports BRL470m net profit in 2Q2314 August 2023, Published under Cement NewsVotorantim Cimentos ended the 2Q23 with BRL470m net profit, a 28 per cent increase compared to BRL366m (US$74.68m) in the same period last year. The company’s global net revenue in the quarter was BRL6.9bn, an increase of three per cent compared to the 2Q22, primarily due to the volume added by the Málaga plant in southern Spain acquired in November 2022. The company’s global cement sales in the 2Q23 totalled 9.5Mt, a slight decrease of one per cent compared to the 2Q22. Performance... |
CEMEX grows sales by 10% in 2Q2328 July 2023, Published under Cement NewsCEMEX has reported its 2Q23 results with a 10 per cent growth in sales to US$4566m, a 29 per cent increase in operating EBITDA to US$961m, and an EBITDA margin expanding by 3.3 percentage points to 21.1 per cent. With these results, CEMEX is close to its goal of recovering 2021 margins, set in 2022 in response to unprecedented inflation. Net sales in Mexico increased 14 per cent in the 2Q23 to US$1298m, while operating EBITDA increased nine per cent to US$399m. EBITDA margin declined 1... |
InterCement assets in Brazil and Argentina are on other players' radar21 July 2023, Published under Cement NewsAccording to Valor, InterCement assets are being valued by local and global players. The operations of Loma Negra, Argentina, are being looked at by CEMEX , Pacasmayo and Argos . Loma Negra has nine plants and 45 per cent of the market. According to Valor, the Brazilian operation could raise the interest of Buzzi, Vicat, Votorantim, CSN, Titan and Mizu. However, no official comment has been made from the parties in the article. In Brazil InterCement has a total production c... |
Argos to allocate US$130m for investments to combat climate change18 July 2023, Published under Cement NewsBetween 2022 and 2030 Argos has committed to allocate about US$130m in long-term assets (capex) for structuring and implementing initiatives associated with climate change mitigation and adaptation. The focus of these projects will be on the use of lower carbon footprint raw materials, fuel optimisation, the use of alternative fuels (such as urban solid and other industries waste) and energy efficiency. “Concrete is not only the most used building material, but the second most used m... |
Cementos Inka opens Pisco plant10 July 2023, Published under Cement NewsCementos Inka has opened its second plant in Pisco , Peru. The plant strengthens the company’s position to compete in the central and southern part of the country. Christian Pfeiffer supplied its latest grinding technology to the new Pisco plant. In the last 12 months, to May 2023, the national cement dispatch fell seven per cent to 12.7Mt compared to the previous period (June 2021 – May 2022), according to the Association of Cement Producers (Asocem), due to the slowdown self-construc... |
InterCement Participacoes defers debenture playments09 June 2023, Published under Cement NewsInterCement Participações SA (ICP) has reached an agreement with its debenture holders regarding the deferral of payments under the series of Brazilian law-governed debentures issued by the company and issued by InterCement Brazil SA (ICB), which allow the company to preserve its liquidity. The ICB holders have agreed to a short-term deferral of both, the principal and interest payments on the ICB debentures. In addition, ICP debenture holders have agreed to receive a partial paymen... |
Votorantim Cimentos SA applies for IFC loan for Salto project02 June 2023, Published under Cement NewsVotorantim Cimentos SA has requested a US$150m investment loan from the International Finance Corporation (IFC) for a capex project at its Salto plant in São Paulo, Brazil. The modernisation will give the plant new co-processing capacity. Kiln W4 will be upgraded and a new residue-derived fuel (RDF) facility will be constructed for refining solid non-hazardous and hazardous waste with the installed capacity of 120,000tpa. Currently, the Salto plant substitutes fossil fuels with app... |
Argos reports record 1Q23 operating EBITDA10 May 2023, Published under Cement NewsArgos recorded an operating EBITDA of US$127m in the 1Q23, the highest achieved in a first quarter in its history and 41.3 per cent higher than in the 1Q22. Regarding consolidated revenues, it earned US$721m, representing a growth of 11.9 per cent compared to the previous year. Net profit closed at US$25m, while the leverage index stood at a level of 3.1 times, with a slight increase compared to December, mainly caused by the accelerated revaluation of the Colombian peso at the end of Ma... |
Brazil bets on housing to revive the market05 May 2023, Published under Cement NewsThe outlook for Brazil's cement market remains uncertain following weak first quarter volumes, with demand falling 1.1 per cent to 14.6Mt over the firhst three months. This follows a lacklustre performance in 2022, when annual demand fell 2.8 per cent to 62.6Mt. The Brazilian cement association, Syndicato Nacional Da Industria Do Cimento (SNIC), has revised down its expectations for 2023 demand, which it had previously indicated would enjoy growth by one per cent to 64Mt. A weakening o... |