Holcim Argentina has introduced the first 100% electric mining truck in the quarry mining industry in Mendoza Province, according to the company. The ‘Pure Electric Mining’ truck, belonging to the XGMT brand, is reportedly set to reduce CO₂ emissions by more than 225t/yr. It also claims to offer further benefits, including reduced operating costs and
Loma Negra has announced its financial results for the second quarter of 2024. Net sales were US$147m, down by 28% year-on-year. Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) fell to US$51m, a 19% decrease from the second quarter of 2023. Net profit reached US$31.6m, up by 226% from US$9.7m in the same period
Cementos Molins experienced a 1.8% year-on-year drop in sales to €336m in the first quarter of 2024. Sales growth across most regions failed to offset a decline in Argentina. Nonetheless, the company’s earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 5% to €90m. Group net profit was €52m, up by 38% year-on-year. Net
Holcim recorded net sales of €5.71bn in the first quarter of 2024, down by 2% year-on-year from €5.85bn in the first quarter of 2023. Nonetheless, recurring earnings before interest and taxation (EBIT) grew by 8% to €543m from €503m. The group noted continuing profitable growth. Its Solutions & Products unit raised roofing sales by 67%
InterCement confirmed this week that it is accepting bids for its sale. The local financial press had been covering InterCement’s progress towards this since the autumn when it was reported that it appointed BTG Pactual to manage the sale. The Valor Econômico newspaper then revealed this week that Companhia Siderúrgica Nacional (CSN), Votorantim and China-based
Investment banking and management company BTG Pactual will start receiving ‘binding proposals’ for prospective buyers of assets belonging to InterCement before the end of February 2024, Valor Online News has reported. These will reportedly include InterCement’s stake in Argentina-based Loma Negra, as well as its Brazilian business. The latter may involve an outright divestment or
Throughout the second half of 2023, Holcim Argentina estimates that it will use 75% renewable energy. The milestone is the outcome of an agreement signed with 360 Energy in April 2023, under which the renewable power provider contributes to the energy mix at all of Holcim Argentina’s cement production facilities. Holcim Argentina says that the
Cementos Avellaneda has signed a memorandum of understanding (MoU) with energy provider YPF Luz for the construction of a new wind farm. Local press has reported that the planned plant will have a capacity of 63MW and be situated in Olavarría, Buenos Aires Province. There, it will supply 100% of the energy used in cement
Holcim Argentina has advanced its diversification strategy with the acquisition of coatings company Quitam. Quitam produces the Quimexur range of paints and liquid membranes. Holcim Argentina said that the range will join its GacoFlex Technoprotect waterproofing and roofing offering. Holcim Argentina CEO Christian Dedeu said “This is a business opportunity strongly aligned with Holcim’s growth