Displaying items by tag: Votorantim Cimentos
Votorantim Cimentos to issue non-convertible debentures
15 November 2023Brazil: Votorantim Cimentos’ board of directors has approved the issuance of US$180m-worth of non-convertible debentures. The producer says that it will use funds raised thereby as collateral for a financial securitisation operation of real estate receivables.
Votorantim Cimentos records growth in sales in third quarter of 2023
14 November 2023Brazil: Votorantim Cimentos reported US$1.51bn in sales during the third quarter of 2023. This represents a decline of 3% year-on-year. It raised its total volume of cement sales by 1% year-on-year to 10.3Mt. Meanwhile, the group’s adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 9% to US$1.9bn.
CEO Osvaldo Ayres said “The positive results in both the third quarter and the first nine months of 2023 reinforce our operational leverage and our performance within our strategic mandate, with discipline and resilience. Despite the uncertain global macroeconomic scenario and market challenges, our geographic and product diversification improves the company, to face challenges and be ready to capture good opportunities.”
InterCement may sell Brazilian business
06 October 2023Brazil: InterCement has hired BTG Pactual to help explore ‘capitalisation alternatives’ as part of a proposed restructuring, possibly involving the sale of the group’s Brazilian business. Valor International News has reported that Companhia Siderúrgica Nacional (CSN) Cimentos has signalled its interest in acquiring the business, while Votorantim Cimentos may group together with other cement companies to make a bid. This would entail a division of the assets in order to conform to Brazilian competition laws.
InterCement successfully secured a postponement for payment of its outstanding bank debt in September 2023. It owes net debt of US$1.5bn up to 2027, including a senior note of US$548m due in May 2024. InterCement operates 12.2Mt/yr worth of cement capacity, and produced 8.7Mt of cement in 2022.
Portland Cement Association announces winners of 2023 Safety Innovation and Chairman's Safety Performance Awards
28 September 2023US: The Portland Cement Association (PCA) has announced the winners of its 2023 Safety Innovation and Chairman's Safety Performance Awards.
The Safety Innovation Award Program recognises companies that have developed innovative practices, projects and programs that improve safety at cement plants in the US. Entries are judged in five areas: innovation, ease of use and ease of construction, effectiveness and risk prevention. The recipients were:
- Distribution: Continental Cement, Continental Port Allen Terminal, Chesterfield, Missouri
- Quarry: CalPortland Company, CalPortland Oro Grande Plant, Oro Grande, California
- Pyroprocessing: GCC of America, GCC Tijeras Plant, Tijeras, New Mexio
- General Facility: Mitsubishi Cement Corporation, Mitsubishi Cushenbury Plant, Lucerne Valley, California
The Chairman’s Safety Performance Awards are given to member cement plants that did not have a reportable injury or illness during the year. Fifteen plants achieved this in 2023, which represented more than 10% of all active cement facilities in the US and its territories. The recipients were:
- Argos USA, Atlanta, Georgia
- Argos USA, Newberry, Florida
- Argos Puerto Rico Corp, Dorado, Puerto Rico
- Ash Grove Cement Company (CRH), Durkee, Oregon
- Ash Grove Cement Company (CRH), Midlothian, Texas
- Buzzi Unicem USA, Chattanooga, Tennessee
- Buzzi Unicem USA, Maryneal, Texas
- CalPortland Company, Rillito, Arizona
- GCC of America, Odessa, Texas
- Heidelberg Materials, Bellingham, Washington
- Martin Marietta Materials, New Braunfels, Texas
- Martin Marietta Materials, Midlothian, Texas
- Martin Marietta Materials, Tehachapi, California
- National Cement Company of California, Kern, California
- St Marys Cement (Votorantim), Detroit, Michigan
New appointments at Cimpor Global Holdings
27 September 2023Türkiye: Cimpor Global Holdings has appointed Erol Tosun as Operational Technologies Unit Manager. He worked as Operational Technologies Chief for OYAK Çimento since 2019 and was the Information Technology Chief for OYAK Modern Beton from 2005 to 2019.
Other appointments at Cimpor Global Holdings include the move by Burak Demir to Industrial Digitalisation Unit Manager. He previously worked for OYAK Çimento since 2017 in a number of process roles. Prior to this he worked for Cementir in Türkiye.
Pınar Özmen Söylemez has been appointed as Data Analytics & Planning Unit Manager. She has worked for OYAK Çimento since 2017 first as a Performance Controller and then Industrial Program and Analysis Chief. Before this she worked for Votorantim Cimentos for two years.
Alan Svaiter elected president of Oficemen
13 September 2023Spain: The Spanish cement association (Oficemen) has elected Alan Svaiter as its president. He will take charge of various cross-sectoral initiatives aimed at helping the local cement industry to meet present and future challenges. These include recovering its higher activity levels and advancing its net zero strategy. He succeeds Cemex’s director general of strategic planning, Europe, Middle East, Africa and Asia, José Manuel Cascajero, in the role.
Svaiter has held the position of chief executive officer (CEO) of Votorantim Cimentos España since January 2018. Prior to that, he worked in Brazil as Votorantim Cimentos’ supply chain director from 2014 and the CEO of its ready-mix concrete subsidiary Engemix from 2010. Earlier, he held management roles at logistics groups VarigLog and Vale.
Six dormant cement plants reportedly received Euro88m in European Union emissions allowances
05 September 2023Europe: Six cement plants were reportedly issued around Euro88m in free European Union emissions allowances (EUA) from 2019 to 2022 despite the clinker kilns at the units being idle or running at low levels. Research by the Oil Price Information Service (OPIS) has revealed that plants operated by Buzzi, Cementos Portland Valderrivas (CPV), Cemex, Holcim and Votorantim Cimentos all benefited from the scheme despite only emitting 36,370t of CO2. The companies would then have been able to use the subsidy to cover emissions costs at other plants or sell the permits. OPIS identified five plants in Spain and one in Germany.
Brazil: Votorantim Cimentos recorded consolidated sales of US$2.59bn during the first half of 2023, up by 51% year-on-year from US$2.37bn in the first half of 2022. The group reported that cement demand was ‘strong’ in the US and ‘stable’ in Spain, however the Brazilian and Canadian markets were ‘challenging.’ Its costs also rose, by 4.2% to US$2.1bn from US$2.02bn. Despite this, Votorantim Cimentos’ net profit grew by a factor of 11, to US$112m from US$10.1m.
Brazil: Votorantim Cimentos has secured a US$150m loan from the International Finance Corporation for an upgrade to its Salto de Pirapora cement plant in São Paulo. The producer aims to increase the alternative fuel (AF) substitution rate at the 4.8Mt/yr plant, and reduce its CO2 emissions. It says that the loan is tied to sustainability performance indicators (SPIs), based on the reduction in the plant’s Scope 1 CO2 emissions.
Şule Gözüpek appointed as Central Anatolia Regional Manager at Votorantim Cimentos Türkiye
19 July 2023Türkiye: Votorantim Cimentos Türkiye has appointed Şule Gözüpek as its Central Anatolia Regional Manager. Gözüpek has worked by Votorantim Cimentos for over 15 years. She holds masters and bachelors degrees from Gazi University in Ankara and Erciyes University in Kayseri respectively.