Cement News tagged under: latin america
Cementos Argos achieves ‘outstanding’ FTSE4Good recognition02 August 2021, Published under Cement NewsArgos, (Grupo Argos) is the only Colombian company on the FTSE4Good Sustainability Index to achieve an outstanding listing in its category for its environmental, social, governance (ESG) practices among North American, European and Asian organisations. The companies are evaluated on more than 150 indicators that cover topics such as efficient use of water, climate change, biodiversity, health and safety, labour standards, human rights and communities, fiscal transparency, corporate gover... |
Votorantim: introducing higher cement production with lower CO2 emissions23 July 2021, Published under Cement NewsThis week, Brazil has been the country for a lot of developments in the cement industry. In particular, Votorantim announced it had completed its new production line in Pecem, Brazil, which also highlighted the cement sector's need to make its cement production more efficient and sustainable with lower emissions. The industry still has the larger topic of carbon pricing hanging over it and the introduction of new cement capacity will highlight the issue of some of the older plants that are n... |
Votorantim Cimentos starts operating new Pecém line21 July 2021, Published under Cement NewsVotorantim Cimentos has announced the start of operation of a new production line at its cement site in the Pecém Industrial and Port Complex, in the state of Ceará, Brazil. As a result of this expansion, the unit now has a production capacity of approximately 1Mta of cement. The volume produced in the new site will enhance the supply of the metropolitan area of Fortaleza. Votorantim Cimentos invested approximately BRL200m (US$38.26m) in the project. During construction and start of opera... |
CSN postpones IPO21 July 2021, Published under Cement NewsBrazilian cement and steelmaker CSN has postponed an initial public offering (IPO) of its cement unit which was expected to be launched in the coming days, newspaper Valor Economico has reported. CSN Cimentos had already filed a preliminary prospectus for the IPO, but it had not disclosed the amount to be raised, price per share, or a timing for the sale. Valor said CSN had decided to halt the IPO due to recent volatile market conditions, amid the spread of the new COVID-19 Delta ... |
Moody's Investor Service upgrades Votorantim SA and Votorantim Cimentos21 June 2021, Published under Cement NewsMoody’s Investors Service has assigned an investment grade rating on a global scale to the holding company Votorantim SA and its portfolio company Votorantim Cimentos. Moody’s upgraded the rating of both companies from Ba1 to Baa3, with a stable outlook. “This is a recognition of the strength and consistency of our results, both in Brazil and abroad. Our company’s leverage is the lowest it has ever been for the past 13 years, and we are ready for new investment opportunities,” said Sergi... |
Votorantim Cimentos reports BRL22m net profits in 1Q2120 May 2021, Published under Cement NewsVotorantim Cimentos ended the 1Q21 with net profit of BRL227m (US$42.8m), reversing the BRL380m loss posted in the 1Q20. The company's global net revenue in the first quarter of the year was BRL4bn, an advance of 46 per cent in comparison to the same period in 2020, as a result of an increase in sales volume in all regions where it operates, combined with the positive impact of the devaluation of the real against foreign currencies in its international operations. The compan... |
CSN requests IPO for cement division20 May 2021, Published under Cement NewsAfter the recent IPO of its mining arm, Brazilian steelmaker CSN is now looking to list shares of its cement division. The company requested authorisation from securities regulator CVM for the IPO of CSN Cimentos, although it did not provide further details. Cement sales in Brazil increased 20.8 per cent in the first four months of the year to 20.5Mt, according to preliminary figures from industry association SNIC. "The consumption of cement by infrastructure projects is medium and ... |
Argos sees high 1Q21 cement volumes in Colombia and Central America11 May 2021, Published under Cement NewsIn the 1Q21 Argos recorded consolidated income of US$651.6m and EBITDA was US$125.1m. This was thanks to better dynamics in all markets and a lower comparison base in Colombia, and the Caribbean and Central America. Cement volumes reached 4.1Mt, thus representing an increase of 19 per cent compared to the 1Q20. Cconcrete shipments totalled 2Mm 3 , with a decrease of 4.4 per cent, mainly caused by weather conditions in the USA and a slower recovery of formal construction in Colomb... |
Grupo Argos formalises COP392bn sustainable linked loan28 April 2021, Published under Cement NewsGrupo Argos and Bancolombia signed the first loan agreement tied to sustainability indicators in Colombia, where the interest rate is tied to the company’s performance on gender equality and climate change, in a financing agreement that modifies current conditions for close to COP392bn (US$106m) in debt and will have a five-year maturity. In this regard, the operation does not increase Grupo Argos' current levels of indebtedness. This transaction recognises Grupo Argos' track record an... |
The search is on for new investors in Brazil's cement sector23 April 2021, Published under Cement NewsBrazil's cement market has been the focus of much attention in recent weeks firstly, with the completion of the CRH cement assets in the country to Companhia Nacional de Cimento (CNC), and more recently the unconfirmed reports that Banco Itau BBA is preparing to advise on the divestment of LafargeHolcim's Brazilian unit. The sale of the Swiss multinational's cement interests in Brazil is expected to raise up to US$1.5bn, according to analysts UBS European Building Materials . These fund... |