Cement News tagged under: Votorantim Cimentos
Votorantim Cimentos to sell stake in Suwannee American28 September 2017, Published under Cement NewsBrazil-based Votorantim Cimentos is to sell its 50 per cent stake in Suwannee American Cement (SAC), located in northern Florida, USA. The sale is part of Votorantim’s strategy of prioritising assets and reducing its debt. SAC supplies cement to the construction markets of Florida and southern Georgia from its 1Mta Branford plant. Although the plant was in the path of Hurricane Irma, it has remained largely unaffected, according to information obtained by ICR. Thanks to precautions ta... |
Votorantim Cimentos inaugurates new Sivas plant06 July 2017, Published under Cement NewsVotorantim Cimentos on Wednesday inaugurated its new plant in Sivas, central Turkey, continuing the company’s strategy of geographic diversification with investments in markets with high growth potential. Involving an investment of EUR140m, the new plant has a capacity of 1.8Mta and will replace the company's old Sivas facility, located about 500km from the capital Ankara and 900km from Istanbul. “This expansion makes our Sivas operation not only more competitive and efficient, but also be... |
Votorantim Cimentos to inaugurate Sivas plant03 July 2017, Published under Cement NewsVotorantim Cimentos is to inaugurate its cement works in Sivas, Turkey, as part of its drive for geographic diversification. International operations account for 40 per cent of its revenues, a share that is expected to grow next year as the expansion of the Charlevoix (MI), USA, works comes online. ‘Geographic diversification works as a "hedge," which compensates for the situation we're going through in Brazil,’ said company president, Walter Dissinger. Therefore, it is expected that ... |
Fitch Affirms Votorantim Cimentos' IDR at 'BBB-'; Outlook remains Negative20 April 2017, Published under Cement NewsFitch Ratings has affirmed the Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) of Votorantim Cimentos SA (VCSA) at 'BBB-' and its National Scale rating at 'AAA(bra)'. The Rating Outlook for the IDRs remains Negative while the Outlook for the national scale rating has been revised to Negative from Stable. The Negative Outlook reflects the challenges VCSA and its parent Votorantim SA (VSA) face as they attempt to deleverage by 2018. “It is likely VSA and VCSA will need to ... |
Spain: Cementos Cosmos Oural plant to open next year23 September 2016, Published under Cement NewsFollowing the decision to reopen the Oural plant in Galicia, Spain, operated by Votorantim Cimentos-owned Cementos Cosmos, after a four-year stop and previously earmarked for closure, the works is scheduled to restart production next year. The reopening of the plant is expected to lead to 40 new jobs at the site in addition to 50 fixed subcontracts and 300 indirect jobs. Some 1800 job applications for the first 25 posts, which include electrical and electronic technicians, mechanical and c... |
Brazil: Votorantim Cimentos de Corumbá cuts water consumption by 60%22 July 2016, Published under Cement NewsThe development of a sound environmental management system and employee engagement at work have provided significant changes to Votorantim Cimentos de Corumbá, Mato Grosso do Sul. In the last three years, the company has reduced by almost 60 per cent water consumption through reusing much of the spending volume in the production process. For 2016 the company plans to end the year with a reduction of 25 per cent compared to 2015. According to Jefferson Marques Correa, Votorantim Cimentos de ... |
Brazil: Votorantim takes protective measures06 July 2016, Published under Cement NewsPrompted by the unfavourable environment in Brazil and the decline in cement sales in the country, Votorantim Cimentos has adopted new measures in an attempt to maintain its competitiveness. The company will focus on innovation, productivity and performance in strategic markets in the second half of 2016. According to the National Cement Industry Union (SNIC), cement sales fell 13.9 per cent in the domestic market between January and May 2016 compared with the same period last year. In ad... |
Brazil: Votorantim opens BRL860m plant24 June 2016, Published under Cement NewsVotorantim Cimentos opened its 1.2Mta cement plant in Primavera, Pará yesterday. Votorantim expects the plant to reach 50-60 per cent capacity this year. The new works cost BRL860m (US$257.9m) and was planned almost five years ago. The new operation is part of Votorantim's expansion plan, aiming to increase its global capacity to approximately 59Mta by year end 2018. This expansion plan adds to previous investments of BRL12bn (US$3.59bn) made between 2007 and 2015, which resulted in a 94... |
Brazil: Votorantim Cimentos downgraded to BBB-01 April 2016, Published under Cement NewsFitch Ratings has downgraded the foreign currency Issuer Default Rating (IDR) and senior unsecured rating of Votorantim Cimentos to 'BBB-' from 'BBB'. The rating outlook remains negative, said Fitch Ratings, and reflects the significant deterioration in the Brazilian economy resulting in weakening cement fundamentals over the medium term. The challenging domestic market coupled with Votorantim's aggressive capital expenditure plans over the next 24 months will result in further deteriorati... |
Moody's downgrades Votorantim Cimentos' ratings to Ba2, outlook is negative29 February 2016, Published under Cement NewsMoody's Investors Service downgraded Votorantim Cimentos SA's senior unsecured rated debt to Ba2 from Baa3. At the same time, Moody's withdrew Votorantim Cimentos' issuer rating and assigned a Ba2 Corporate Family rating. The outlook was changed to negative. The rating action follows Moody's downgrade on 24 February 2016 of Brazil's government bond rating to Ba2 from Baa3. In addition, Moody's downgraded the country's senior unsecured debt rating to Ba2 from Baa3 and the senior unsecured s... |