Displaying items by tag: Argentina
Itacamba increases exports to Argentina
14 November 2017Argentina/Bolivia: Bolivia’s Itacamba is preparing to send a second batch of cement to Argentina. It sent 4000t earlier in the year and now intends to send the same amount again, according to the El Día newspaper. The company expects to export 0.16Mt of clinker with a value of US$9m in 2017. Cement exports are expected to reach a value of US$2m. Itacamba already dispatches clinker to Argentina and it has been sending both clinker and cement to Paraguay.
Loma Negra to launch initial public offering
01 November 2017Argentina/US: Loma Negra has set the price of its initial public offering on the New York Stock Exchange. It plans to raise about US$954m from the sale. Most of the proceeds will go to InterCement Brasil, Brazil’s second-largest cement producer, which owns 99% of Loma Negra, according to Reuters. The rest will go to Loma Negra.
Founded in 1926, Loma Negra is vertically integrated cement and concrete company based in Argentina. It also owns a 51% stake in a cement plant in Paraguay.
Loma Negra aims to raise US$800m in initial public offering
16 October 2017Argentina/US: Loma Negra aims to generate up to US$800m in an initial public offering in Argentina and the US. Around US$700m of the money raised will go to its parent company Brazil’s InterCement, according to Reuters. InterCement is selling a 32% stake in the company to pay its debts. Subsequently it will hold a 57% stake in the Argentine cement producer. No schedule for the transaction has been disclosed.
Loma Negra signs renewable energy deal with Genneia
05 October 2017Argentina: Loma Negra has signed a deal to buy renewable energy from local power company Genneia for a 20-year period starting in January 2018. The agreement will include energy generated by the Parque Eólico Rawson wind farm that is scheduled to complete a 24MW expansion in December 2017.
Cementos Avellaneda to spend US$230m on upgrade to plants in Argentina
25 September 2017Argentina: Cementos Avellaneda plans to spend US$230m towards upgrading its La Calera and Olavarría cement plants. The company is a joint venture between Spain's Cementos Molins and Brazil’s Votorantim. US$200m will be used to increase the production capacity of the La Calera plant in San Luis to 1Mt/yr from 0.7Mt/yr by the second half of 2019. US$30m has been targeted to increase the Olavarría plant’s capacity by 0.3Mt/yr. Commissioning is planned for the end of 2017.
Loma Negra files for US$100m initial public offering
07 September 2017Argentina/US: Loma Negra has filed for a US$100m initial public offering (IPO) on the New York Stock Exchange. The subsidiary of Brazil’s InterCement wants to sell shares of Loma Negra in Argentina and New York to raise cash and cut debt, according to sources quoted by Reuters. Proceeds from the offering will be used to reduce debts at InterCement’s parent company Camargo Correa. The Brazilian company originally purchased Loma Negra in 2005 for US$1bn.
Stronger cement demand in Argentina
07 August 2017Argentina: Cement production rose by 18.8% year-on-year to 1.01Mt in Argentina in July 2017, according to data from the local cement association AFCP. Sales including exports also climbed by 18.8%, rising by 0.9% compared with June 2017. Domestic sales, including imports, rose by 19.8% in July 2017. Domestic consumption totalled 1.01Mt in July 2017, around 1% above national consumption in June 2017.
LafargeHolcim to import 0.25Mt of clinker into Argentina
17 April 2017Argentina: Holcim Argentina plans to import about 0.25Mt of clinker with a value of US$16.3m from May 2017 to April 2018. The product will arrive in six separate vessels carrying 41,800t each, according to the El Cronista newspaper. The cement producer says that the imports are intended to cover local demand that it can’t meet with its own production base. The company’s director Carlos Moreno added that the price of imported clinker is ‘competitive.’ The subsidiary of LafargeHolcim has a cement production of 4.8Mt/yr from plants in Campana in Buenos Aires, Malagueño in Córdoba, Puesto Viejo in Jujuy and Las Heras in Mendoza.
Argentine cement despatches bounce up in March 2017
07 April 2017Argentina: Data from the Asociacion de Fabricantes de Cemento Portland, the Argentine cement association, show that cement despatches rose sharply by 15.5% year-on-year to 1.03Mt in March 2017 from 0.89Mt in March 2016. Cement producers have described the result as the ‘best’ March in history, according to the Clarín newspaper. Despatches for the first quarter of the year rose by 5.8% to 2.71Mt from 2.56Mt. Consumption figures were similar. Cement producers have attributed the increase to higher demand for bulk cement caused mainly by government infrastructure spending. It is hoped that newly announced initiatives to boost house building will also boost the bagged cement market.
Cement sales fall by 10.7% in 2016 in Argentina
07 February 2017Argentina: Sales of cement have fallen by 10.7% year-on-year in 2016, according to data from the National Statistics and Censuses Institute (INDEC). Overall, the domestic construction sector declined by 12.7% in 2016