Displaying items by tag: CSN
CSN Cimentos to launch initial public offering
19 May 2021Brazil: CSN Cimentos has filed for an initial public offering (IPO). Reuters previously reported that the Companhia Siderúrgica Nacional (CSN) subsidiary entered talks with Banco Bradesco and JPMorgan Chase regarding management of a future IPO in February 2021. CSN has not revealed the bank it has chosen.
CSN ‘expected’ LafargeHolcim sale in Brazil
30 April 2021Brazil: CSN’s Cement Director Edvaldo Rabelo has said his company is ‘attentive to opportunities’ in a call with analysts that discussed LafargeHolcim’s rumoured exit from the Brazilian cement market, according to Reuters. Rabelo said that the move had been expected, while CSN’s chief executive officer Benjamin Steinbruch reportedly added that the company was interested in ‘potential merger and acquisition activity’ in its cement business.
Brazil: Companhia Siderúrgica Nacional (CSN) plans to launch an initial public offering (IPO) for shares in its cement division in early 2021. The Valor Econômico newspaper reported that the company will reorganise its shareholding when it creates a publically-traded subsidiary for the business. In October 2020 the group filed an IPO with the Securities and Exchange Commission of Brazil for the sale of its mining division by mid-February 2021.
Chief financial Officer Marcelo Ribeiro said, “The opportunity to expand the unit is materialising more and more, but the truth is the decision to expand will be made once the market firms up, which is expected to happen.”
CSN planning US$390m cement plant in Paraná
13 June 2019Brazil: CSN Cimentos is planning to spend around US$390m on building a new 3Mt/yr cement plant in Paraná. Eduardo Bekin, president of the Paraná State Development Agency, said that the company already had the authorisation to conduct economic viability studies and should confirm the plant by late August 2019, according to the Valor Econômico newspaper. CSN is also considering building the plant in Sergipe state, where it operates a limestone mine. The final decision will depend on the best tax environment for the cement producer.
CSN proposes merger with CSN Cimentos
14 April 2015Brazil: Brazilian steelmaker CSN is considering a merger with its cement producing subsidiary CSN Cimentos. CSN said that it would present the proposal to shareholders for approval.
The merger would help CSN achieve synergies and economies of scale. It would result in 'process optimisation and maximised results,' with all business and administrative activities carried out via a 'single organisational structure,' according to CSN. The merger would cost US$544,758 and be effective from 1 May 2015.
CSN entered the cement market in 2009 and claims to have 2.4Mt/yr of production capacity. Its 2014 capex was US$705m, with 23% directed toward cement operations, which generated 3% of the company's revenue in the year. Its cement sales increased by 7% to 2.18Mt in 2014.
CSN plans 3Mt/yr expansion in Minas Gerais
07 November 2012Brazil: Steel manufacturer CSN has announced plans to set up four cement assets in Minas Gerais state. The company wants to grow its current cement production capacity of 2.4Mt/yr to 5.4Mt/yr with an investment of US$491m.
CSN has proposed setting up three cement plants and a second clinker unit, adding to one at Arcos that began operations on May 2011. Currently the clinker unit at Arcos supplies 2500t/day the company's plant at Volta Redonda in Rio de Janeiro. The second clinker unit would expand this to 6500t/day, making it the largest clinker production site in Latin America.
Other cement companies investing in Minas Gerais state include Cimentos Liz's US$147m expansion to its capacity at plants in Vespasiano and Lagoa Santa. Holcim is growing the capacity of its plant in Barroso from 1.3Mt/yr to 3.5Mt.yr. Both Holcim and Cimentos Liz are receiving funding from the state development bank BDMG.