Displaying items by tag: Brazil

Brazil: Votorantim Cimentos plans to open a limestone grinding plant at Nobres. in Mato Grosso state to produce agricultural lime. The unit will have a production capacity of 0.7Mt/yr, according to the Valor newspaper. Once the new plant is opened in the second quarter of 2019 the company will have a total agricultural lime production capacity of 4.5Mt/yr.

The initiative is part of the building materials group’s plans to diversify its business. For the agricultural lime market it is targeting Central-West, Central-North and Northeast parts of Brazil. The Nobres plant can also produce 0.25Mt/yr of limestone filler for farm use. Following the upgrade to the Nobres plant it will be able to produce 0.75Mt/yr of dolomitic and calcitic limestone. These limestone products both have agricultural applications as soil nutrients.

India: Private equity company True North has purchased a 54% stake in Shree Digvijay for a reported US$17m from Brazil’s Votorantim Cementos. Other companies bought the rest of Votorantim’s 75% share in the business, according to Bloomberg. True North signed a deal to buy the cement producer in late 2018. Shree Digvijay operates an integrated cement plant at Jamnagr in Gujarat.

Brazil: Data from the National Union of Cement Industry (SNIC) shows that cement sales rose slightly to 12.7Mt in the first quarter of 2019 compared to 12.6Mt in the same period in 2018. Regional sales fell slightly to 6Mt in the southeast of the country including the major markets of Minas Gerais, São Paulo and Rio de Janeiro. However, most of the other regions reported growth, particularly the centre-west. SNIC president Paulo Camillo Penna said that March 2019’s performance was better than expected and that it was forecasting growth of 3% in 2019.

Brazil: The National Union of Cement Industry (SNIC) and the Brazilian Portland Cement Association (ABCP) have launched a Cement Technology Roadmap to 2050. SNIC president Paulo Camillo Penna said that the document would help the local industry cut its carbon footprint in the medium and long term. The roadmap was developed with the International Energy Agency (IEA), the Cement Sustainability Initiative (CSI) of the World Business Council for Sustainable Development (WBCSD), the International Finance Corporation (IFC) of the World Bank and a group of academics led by José Goldemberg.

The roadmap intends to reduce specific CO2 emissions by over 30% to 375kg CO2/t of cement in 2050. Key actions to 2030 include strengthening national and international cooperation, promoting new cement standards, raising the clinker substitution rate, promoting the use of alternative fuels in compliance with the National Policy on Solid Waste (PNRS), sharing best practive in energy efficiency and promoting resaerch and development in new greenohuse has mitigation technologies.

Brazil: Investors have started legal action over in Cimento Tupi’s defaulted debts and attempts to merge with its parent company Cimento Santo Estevão. The cement producer defaulted in mid-2018 on payments to foreign investors that hold around US$30m in it, according to the Valor Econômico newspaper. It also stopped paying interest on the debts in 2015.

Other creditors are also working to stop Cimento Tupi’s plans to merge with Cimento Santo Estevão because it would raise the company’s debts rather than cut costs. A court in Rio de Janerio rejected one case although others are on-going elsewhere. Separately, the Agricultural Bank of China is also challenging the cement producer over arrears in a loan worth US$18m.

Cimento Tupi operates one integrated plant at Pedra do Sino in Minas Gerais and a grinding plant in Modi das Cruzes in São Paulo. It has a combined cement production capacity of 2.5Mt/yr but it has been producing half of this since around 2015. Its operating revenue remained stable at US$43m for the first nine months of 2018. However, its loss more than trippled year-on-year to US$76m.

Brazil: Votorantim Cimentos’ revenue rose by 15% year-on-year to US$3.26bn in 2018 from US$2.82bn in 2017. Its sales volumes of cement increased slightly to 30.9Mt from 30.6Mt. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 51% to US$677m from US$477m. Despite a 1.2% drop in cement demand in Brazil, the group managed to raise its revenue. The cement producer said that its revenue growth in 2018 was affected by markets in Brazil and the US and positive currency depreciation effects.

Brazil: Eduardo Mazzilli de Vassimon has been announced as the president of Votorantim. He will succeed Raul Calfat on 1 May 2019 following a transition period in April 2019. Calfat has worked for Votorantim since 1992 when it acquired Papel Simão. He later became chairman of the board of directors in 2014.

Vassimon, a 60-year old, graduated in business administration at the Escola de Administração de Empresas de São Paulo (FGV EAESP) and in economics at the School of Economics, Business and Accounting of the University of São Paulo (FEA USP) with a postgraduate degree at EAESP and at the HEC business school in France. He has worked for more than 30 years in the financial market, including for Itaú-Unibanco. His last position was as director general at Itaú-Unibanco's wholesale bank and president of Itaú BBA.

US: Brazil’s Votorantim Cimentos has acquied United Materials, a producer of aggregates, concrete and building materials, for an undisclosed amount. The purchase was conducted by its subsidiary Votorantim Cimentos North America. United Materials operates four ready-mix concrete plants, one aggregate quarry and two building materials units in the western part of New York state. It has around 140 employees.

Brazil: InterCement has appointed Flavio Aidar as its chief executive officer (CEO). He succeeds Paul Nigo, who took the role in early 2018. Aidar has worked in the financial services sector including for Goldman Sachs, where he left as managing director in 2017. He then moved on to Mover Participações, formerly known as Camargo Corrêa and the controlling shareholder of InterCement, as a member of its advisory board.

Brazil: Votorantim Cimentos has started shipping cement from its Aracaju terminal in Sergipe state to its Manaus terminal in Amazonas state to expand its business in the north of the country. It purchased the Manaus unit from Cemex in 2018, according to the Valor Economico newspaper. A 20,000t cement carrier will be used exclusively for the project.