InterCement has presented a restructuring plan to local courts. The plan is aimed at reprofiling the capital structure of the company, and has gained approval from creditors representing over one third of its debt. The plan depends on a possible merger and acquisition transaction that is still under negotiation, according to a statement by the
China-based Sinoma Overseas has signed an engineering and supply contract for the Z02 cement grinding plant and a technical cooperation framework agreement with Votorantim Cimentos. The agreements were signed by Sinoma chair Zhu Linhe and Votorantim’s global projects director Alvaro Lorenz. This collaboration marks the third cement grinding plant project between the two companies and
Votorantim Cimentos has appointed Antonio Miguel Sousa Pelicano as Executive Vice President of Finance and Investor Relations. He has succeeded CEO Osvaldo Ayres Filho in the role. Filho took the position of Chief Financial Officer (CFO) and Investor Relations in May 2024 on a temporary basis when Bianca Nasser Patrocínio resigned. Sousa Pelicano, a Portuguese
Despite experiencing a 1.2% year-on-year increase in cement sales in the first half of 2024 to 30.6Mt, the Brazilian cement industry is adjusting to mixed economic signals, according to the National Union of the Cement Industry (SNIC). While June sales rose by 2.1% year-on-year to 5.4Mt, overall growth projections have been downgraded from 2.4% to
Votorantim Cimentos will invest US$36.7m to double the production capacity of its Edealina plant in Goiás from 1Mt/yr to 2Mt/yr. The new cement grinding line is scheduled for completion in the second half of 2025. This expansion is a key component of Votorantim’s US$919m investment program over the next five years. The program includes significant
Cement sales in April 2024 totalled 5.1Mt, up by 12% year-on-year. Compared to March 2024, sales rose by 4%, as reported by the National Cement Industry Union (SNIC). April 2024 sales have increased following a forecasted rise despite earlier climate-related impacts. President of SNIC, Paulo Camillo Penna, said “After two consecutive years of falling sales
Votorantim Cimentos has made progress in reducing its carbon footprint, reporting embodied CO₂ emissions of 556kg/t of cement produced in 2023, a 4% year-on-year decrease. The company aims to reach a target of 475kg of CO₂/t by 2030, aligning with the Science Based Target initiative standards. The company’s decarbonisation strategy involves four stages: co-processing, which
Companhia Siderúrgica Nacional (CSN), Votorantim Cimentos and China-based Huaxin Cement have all submitted ‘virtually’ identical bids for InterCement’s assets in Brazil. Valor International News has reported that Huaxin Cement may be the bidder that best ‘pleases’ InterCement. As a would-be market newcomer, its acquisition of the business would not require investigation by the Administrative Council
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
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