Displaying items by tag: Argentina

Argentina: Loma Negra, the cement assets purchased in 2005 by Brazil's Camargo Corrêa Cimentos from the Fortabat family in a US$1bn deal and later incorporated into Intercement is likely to be sold, according to El Cronista. Loma Negra began 2011 with a US$400m four-year investment that includes US$250m to set up a plant at San Juan, Puerto Rico. It would be Loma Negra's 10th cement plant.

Spain/Mexico/Argentina: Cementos Molins plans to build its international presence outside of Spain with expansions planned for Mexico and Argentina. The company hopes to generate just 20% of revenues in Spain in 2017. The company reported a profit of Euro6.5m for the first quarter of 2014.

The Spain-based cement producer intends to invest in a Euro147m cement plant project in Veracruz, Mexico in 2015 – 2016 shared with Buzzi Unicem and Mexican company Carso. Cementos Molins also plans to upgrade its existing cement plant in San Luis, Argentina. Other projects include two cement plants at unspecified locations.

Portugal: Cimpor intends to invest around US$1.33bn in Latin America by 2017, according to its CEO Ricardo Lima. The main objective of Cimpor is to reinforce its position in Brazil where it already operates in all regions, except in the northern parts of the country, Lima told the Portuguese news agency Lusa.

The Portugal-based cement producer will spend part of the investment building a new cement plant in northern Brazil, at either Belém or Manaus. Due to positive results in the Argentine market another plant is planned for Argentina's western province of San Juan. In October 2013 Cimpor will inaugurate a plant in Paraguay where it holds a 35% share of the market but where it currently sells its surplus Portuguese cement.

Argentina: In 2013 Argentinian cement factories shipped 1.02Mt of cement including exports, representing a 14.3% increase compared to May 2012, according to the Asociación de Fabricantes de Cemento Portland.

Domestic consumption, including imports, reached 998,196t, leaving around 22,000t that was exported.

Argentina: Loma Negra, a subsidiary of Camargo Correa of Brazil, has reported that its profits fell by half to US$43.9m in 2012 from US$96m in 2011. Sales dropped to US$688m from US$704m following the official currency quotation in December 2012. Cement and lime production fell by 9% to 5.7Mt from 6Mt.

Loma Negra's performance follows a general reduction in the construction sector in Argentina, where the construction index (ISAC) fell by 3.2% in 2012. Loma Negra has confirmed that its results were affected by the acquisition of a 35% stake in Paraguay's Cementos Yguazu at cost of US$19m. Camargo Correa holds a 70% stake in Yguazu, with 30% belonging to Concret Mix.

Spain: Cementos Molins has sold 10.61% in its Argentina-based unit Cementos Avellaneda to Votorantim Europe for Euro45.2m. Following the deal Cementos Molins retains 51% in the company and Votorantim Europe, part of Brazilian group Votorantim, is holds 49%. The Spanish firm also transferred a 12.61% stake in its Uruguayan-based unit Cementos Artigas to Votorantim Europe for Euro19m, keeping 49% in the subsidiary and its partner raised its stake to 51%.

Argentina: Loesche, the German producer of vertical roller mills for the cement industry, has been awarded a contract by InterCement in Argentina for the supply of a solid fuel mill for its cement plant in Barker, Argentina.

The Loesche LM 35.3 D mill will be used for InterCement's Barker Coal project and will be used to replace natural gas in the kiln. The solid fuel dry-grinding plant will be designed for the grinding of coal and petcoke with product rates of 45t/hr for coal and 30t/hr for petcoke respectively. The mill's main drive power rating will be 960kW.

Besides the mill, the order comprises the complete machinery of the grinding plant in between the raw coal storage and the pulverised fuel dosification area. Electrical equipment and automation systems as well as the steel structures for buildings will be delivered by Loesche. Complete delivery is scheduled for the second half of 2012.

Argentina: Cementos Avellaneda has dedicated a new 2.5Mt/yr cement plant at Olavarria, where it has invested US$85m, with the aim of meeting growing demand in Argentina. Cement sales increased to 11.6Mt in 2011, an 11% rise compared to sales in 2010. Demand in 2003 was just 6.5Mt.

Argentina: Cement maker Loma Negra, controlled by Brazil's Grupo Camargo Correa, will invest USD404m in Argentina between 2012 and 2014, President Cristina Fernandez has announced.

Camargo Correa officials met with the Argentine president Fernandez and presented an investment plan that includes a new cement plant. "They told me about investments... for USD404m with a cement plant that will allow them to produce 900,000t more," Fernandez, who is seeking re-election in October 2011, said in a speech.

The investments, aimed at increasing output, also include a coal stockpile yard, said Ricardo Lima, vice president of operations at Camargo Correa. Loma Negra has nine cement plants and six concrete plants.