Cement News tagged under: Votorantim
Votorantim first-quarter driven by Brazilian housing and infrastructure16 May 2012, Published under Cement NewsVotorantim Industrial reported that first-quarter revenues increased for all businesses YoY, except for pulp, supported by business focused on the Brazilian market, mainly driven by housing and infrastructure. Sales volume increased in cement, nickel and pulp, while it decreased in long steel and zinc. Consolidated net revenues and Ebitda amounted to BRL5.7bn and BRL$1bn, an increase of 6% and a decrease of 20%, respectively. EBITDA margin declined from 22.8% to 15.7%, impacted by the meta... |
Camargo says Votorantim to likely exchange Cimpor stake - report08 May 2012, Published under Cement NewsCamargo Correa SA said Votorantim Cimentos SA will probably accept some of Cimpor assets in exchange for its shares in the Portuguese company after rejecting a cash bid, Bloomberg reports. “There is a very strong probability that Votorantim Cimentos SA will accept this offer,” Camargo Correa’s Intercement unit said in an emailed statement. Votorantim has decided not to accept Camargo’s EUR5.5-a-share cash bid for Cimpor, it said. By splitting up some of Cimpor’s assets, Camargo Correa, Br... |
Cimpor defence document rejects Camargo Correa bid16 April 2012, Published under Cement NewsThe Cimpor defence document claims that the Camargo Correa bid significantly undervalues the company. It points out that the EUR5.50 per share offer compares poorly with the EUR6.50 per share paid by Camargo Correa for the shares it acquired from Teixeira Duarte and from Bipadosa in 2010. Not only that, it is also lower than the failed EUR5.75/share bid for Cimpor by the steel company Companhia Siderurgica National (CSN) just over two years ago, that led to Camargo Correa and Votorantim ge... |
No asset sales in proposed Cimpor buyout11 April 2012, Published under Cement NewsJose Barros Franco, chief executive of Intercement, a subsidiary of Brazil's second-largest construction group Camargo Correa does not expect to have to sell any assets if its buyout of Cimpor goes ahead as planned. In a written reply to questions from Reuters the bid price of EUR5.5/Cimpor share was "fair", but would not say if the company would consider sweetening the offer. Portuguese conglomerate Semapa has made a proposal to major shareholders in Cimpor to try to keep it in Portugu... |
Cimpor acquisition good for competition06 April 2012, Published under Cement NewsThe buyout of Cimpor, Portugal, by Camargo Corrêa of Brazil would improve competition by reducing the market share of dominant player, Grupo Votorantim, according to Brazil’s antitrust regulator. "In principal, I can say that would be better than Votorantim concentrating even more of the market. But I can't say that solution is enough," said Olavo Chinaglia, the head of the Brazilian antitrust agency Cade, reported Reuters. Camargo Corrêa, the country’s second-largest construction grou... |
Camargo Corrêa in Cimpor bid06 April 2012, Published under Cement NewsCamargo Corrêa and Brazilian competitor Votorantim Cimentos SA bought separate stakes in Cimpor in early 2010. Camargo currently claims to hold around a 33.25% stake in Cimpor and is its largest shareholder ahead of Votorantim with a current 21.2% interest, but has an option to increase this to 30.8%. Votorantim is reportedly considering teaming up with Camargo for a joint bid, although the latter denies that any such agreement has been made. Given Votorantim’s dominant market share in Brazi... |
Camargo Correa bids for Cimpor02 April 2012, Published under Cement NewsCamargo Correa has announced a €2480m bid for Cimpor at €5.50 per share, a 10% premium on the pre-offer share price. InterCement Austria, a wholly-owned subsidiary of Camargo Correa is being used as the bid vehicle. Camargo Correa is currently the sixth-largest cement producer in Brazil, and market leader in Argentina, while Cimpor is the number four in Brazil. Together, the two companies would form the second largest in Brazil, but would still be less than a third of the size of market lead... |
S&P: Votorantim Industrial rated 'BBB', outlook stable08 March 2012, Published under Cement NewsStandard & Poor's (S&P) Ratings Services assigned a 'BBB' global-scale and 'brAAA' national-scale corporate credit ratings on Votorantim Industrial S.A. (VID). The outlook is stable, reflecting VID's solid operations thanks to strong cash flows from its cement operations, which compensated for the weaker results from its metals and steel businesses. S&P stated: “We believe the still strong demand for cement will buoy its cash flows, which, coupled with its strong cash position, should kee... |
Votorantim Cimentos sells 30-year bonds, Brazil03 February 2012, Published under Cement NewsVotorantim Cimentos of Brazil completed a US$500m sale in the US credit markets Thursday, according to a person familiar with the issue. The 30-year bond deal was a reopening or, or addition to, a US$750m issue of 7.25% coupon bonds originally sold in April 2011. The bonds were priced to yield 7.30%, or 432.2 basis points over the Treasury rate. The anticipated ratings are Baa3 from Moody's Investors Service and BBB from Standard & Poor's. Fitch Ratings issued a BBB-minus rating on Thursd... |
Votorantim steps up performance26 October 2011, Published under Cement NewsBrazil’s market leader, Votorantim Cimentos, is embarking on a new phase of growth, which will see the company not only consolidate its local market position, but expand activities throughout the Latin American continent. International Cement Review talks to Edvaldo Rabelo, Votorantim’s Global Technical Director, about the current expansion programme, the company’s international ambitions, and a range of topics including sustainability, carbon reduction and alternative fuel technology. ... |