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News Chile

Displaying items by tag: Chile

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Fuchs buys lubricants business from Comercial Pacific

09 July 2018

Chile: Fuchs Group has purchased a controlling stake in the lubricants business of Comercial Pacific. The agreement will see it hold 65% of the company with Comercial Pacific retaining the remaining 35%. The acquisition focuses in particular on the customer base and workforce. Comercial Pacific is a long-standing Fuchs distributor in Chile in the mining, food, paper and cellulose industries. The company employs 13 people in sales and application engineering.

Published in Global Cement News
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Cementos BSA signs deal to supply grinding plant with renewables

08 June 2018

Chile: Cementos Bicentenario (BSA) has signed a deal with energy company Engie to supply its Quilicura grinding plant near Santiago with renewable energy. All of the energy supplied to the plant will come from renewable sources including solar and hydroelectric. The contract, equivalent to 35GWh, will see the plant achieve the I-REC certification.

Published in Global Cement News
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Cementos Bío Bío to start production at Arica grinding plant

07 June 2018

Chile: Cementos Bío Bío plans to start production at its new 0.15Mt/yr grinding plant at Arica in September 2018. The project has an investment of US$15m, according to the Economia y Negocios newspaper. The company wants the unit to reach its production capacity by 2021, with plans to subsequently double it to 0.3Mt/yr. The project is part of a US$150m investment that the cement producer is undertaking in the period to 2022.

Published in Global Cement News
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Cementos Bío Bío considers expansion to Argentina and Peru

13 April 2018

Chile: Cementos Bío Bío is considering expansion plans in Argentina and Peru, according to the El Mercurio newspaper. The plans are part of its 2021 strategy. It also wants to consolidate its leadership in its local market.

Published in Global Cement News
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Hurtado Vicuna Group asks minor shareholders to support merger of Cementos BSA and Cementos Polpaico

05 March 2018

Chile: Hurtado Vicuna Group has asked its minor shareholders to support a merger between its subsidiaries Cementos Bicentenario (BSA) and Cementos Polpaico. Hurtado Vicuna holds a 57.1% share in Cementos Polpaico, according to the Diario Financiero newspaper. However, two of the company’s major shareholders, Volcan and Megeve, may oppose the merger. If successful the merger would create Chile’s largest cement producer. As part of its acquisition of Cementos Polpaico, Hurtado Vicuna agreed to sell some of BSA’s assets. This potentially could involve the divestment of BSA’s 26 concrete plants.

Published in Global Cement News
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Cementos Melon results impaired by contracting construction market in Chile

19 February 2018

Chile: Cementos Melon financial results for 2017 have been hit by a contraction in the local construction market. Both cement and concrete sales volumes were reduced, according to the Diario Financiero newspaper. Its sales fell by 14% year-on-year to US$298m in 2017 from US$345m in 2016. Its profit dropped by 54% to US$14m from US$30m. The company says that it has constrained fixed costs, logistics and administration to compensate.

Published in Global Cement News
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Inversa launches offer to consolidate control of Cementos Bío Bío

19 December 2017

Chile: Invesa has launched a public offer to increase the shares its holds in Cementos Bío Bío. The move follows its acquisition of a 13.1% share in the cement producer from Brazil’s Votorantim for around US$46m in November 2017, according to the Diario Financiero newspaper. The latest acquisition bid could see Invesa hold a 79% share of Cementos Bío Bío, combining other shares owned by other business that the Invesa family owns.

Published in Global Cement News
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Cementos Bío Bío appoints Katia Trusich as director

06 December 2017

Chile: Cementos Bío Bío has appointed Katia Trusich as director and member of the Directors Committee. Her appointment follows the resignation of André Roberto Leitão. Trusich has held of number of private and public sector roles, including working as the Under Secretary of Economics for the Chilean government between 2014 and 2016. Most recently she has been the Corporate Affairs Manager for CGE.

Published in People
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Melon struggling against Chilean headwinds

30 November 2017

Chile: Cementos Melon has recorded a 56.8% drop in its profit to US$7.8m in the three quarters to 30 September 2017. The company said that a drop in sales had been partly mitigated by greater focus on margins and operational efficiency gains. Its revenue fell by 13.6% to US$210m.

Published in Global Cement News
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Cemento Polpaico flips to a loss in first nine months

28 November 2017

Chile: Cemento Polpaico has reported losses of US$3.58m in the first nine months of 2017. This compares very unfavourably with the company’s profit of US$6.5m in the same period of 2016.

The firm recorded revenues from ordinary activities of US$151m, a 11.4% reduction compared to the first nine months of 2016 when it took in US$170.4m.

Published in Global Cement News
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