Displaying items by tag: Chile

Chile: Cementos Bío Bío is to stop producing clinker at its Talcahuano cement plant. The cement producer has also laid off a third of its workforce, according to Pura Noticia. It now plans to import clinker from Asia instead, which it says, will reduce its production costs by US$19/t. The company started cement production at Talcahuano in 1961.

Chile: Hurtado Vicuña Group has been cleared by the Chilean competition authority (TDLC) to buy a controlling stake in Cemento Polpaico from LafargeHolcim. However, it will be required to sell assets from its concrete business worth up to an estimated US$90m, according to the Diario Financiero newspaper. The agreement also includes other measures such as a ban on repurchasing assets within 10 years. Hurtado Vicuña and its subsidiary Inversiones Caburga operate Cementos Bicentenario (BSA). It agreed to buy Cemento Polpaico in October 2016.

Chile: Cemento Polpaico has changed its commercial strategy following a poor year for the construction industry in 2016. The cement producer has moved from a geographical approach to one based on the profile and sector of its customers, according to the Diario Financiero newspaper. It has also reorganised its business into three segments: retail, construction and special projects.

LafargeHolcim agreed to sell its controlling stake in Cemento Polpaico to Inversiones Caburga in late 2016. However, the transaction is still awaiting approval by the Fiscalía Nacional Económica.

Chile: Cementos Bio Bio plans to sell a 5.38% share in its business at auction on 3 February 2017. The cement producer hopes to raise US$16.8m in the transaction, according to La Tercera newspaper. The transaction will be handled by Credicorp.

Chile: LafargeHolcim has signed an agreement with Inversiones Caburga, part of the Hurtado Vicuña Group, to sell its 54.3% stake in Cemento Polpaico for US$225m. The transaction will be carried out by a public tender offer by Inversiones Caburga to all shareholders of Cemento Polpaico.

Cemento Polpaico operates one integrated plant and two grinding plants with an annual cement capacity of 2.3Mt/yr. The company is also a leading ready-mix concrete producer operating 25 plants and produces aggregates. The launch of the public tender offer is subject to the approval of the Chilean competition authorities, which is expected for the first half of 2017. Following the successful completion LafargeHolcim would exit Chile completely.

Chile: AES Gener is exploring options to sell by-products from its Guacolda coal-fired power station to cement producers. The power-generation company has asked for permission to do so and has approached Polpaico, owned by Holcim, and BSA, owned by Hurtado Vicuna group, according to the Diario Financiero newspaper. Guacolda produces around 40,000t/yr of synthetic gypsum and 60,000t/yr of Ash. AES Gener is already selling 30,000t/yr or half of the ash generated at its Ventanas power plant, to Melón. The company also has agreements in place with a number of universities to explore the use of these materials in concrete, cement, agriculture and mining activities.

Chile: Cementos Bío Bío has reported that its profit rose by 4% year-on-year to US$30m in 2015 from US$28.5m in 2014. Its revenue rose by 4.4% to US$417m. It attributed the growth to higher cement sales and better prices. The Chilean cement producer also announced that it is upgrading the milling capacity at its lime plant in Antofagasta.

Chile: Chile's environmental authorities have approved a plan of Cemento Polpaico for the construction of a 23.5MW photovoltaic (PV) park as part of the country's power grid.

The approval envisages the installation of 243,120 modules near Cemento Polpaico's Cerro Blanco plant in Tiltil, Chacabuco. The solar facility will require an initial investment of US$42m and its energy will be injected into the grid through the existing interconnection with the Punta Peuco substation. The annual output is estimated at 44GWh. The company will need around 112 workers during the construction phase, which could start at the end of April 2016, and up to 10 workers during operation.

Argentina: Cement suppliers in Mendoza province in Argentina have started bringing cement from Chile due to a continued and deepening cement supply crisis. Those that have already been granted permission from the Argentine tax agency to do so are already importing 50kg sacks from the country.

Cement shortages in Mendoza have worsened in recent months. Holcim recently told the local branch of Argentina's construction sector chamber that it was going to be able to resume its normal level of production shortly, after one of its mills was due to be repaired. However, this has reportedly not yet been completed.

Chile/Peru: Peruvian mining company Volcan could sell its share in Chilean cement producer Polpaico if metal prices continue to fall, according to Volcan's CFO Jorge Murillo. Volcan could receive around US$27m for its approximate 20% stake in the business. Holcim, part of LafargeHolcim, owns 54.3% of Polpaico, which has 2.7Mt/yr of cement production capacity.