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News Brazil

Displaying items by tag: Brazil

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Votorantim Cimentos and Atlas Renewable Energy partner to build 470MW solar power plant

16 January 2024

Brazil: Votorantim Cimentos and Atlas Renewable Energy have launched a joint venture to build a 470MW solar power plant in Paracatu, Minas Gerais. Additionally, the parties signed a power purchase agreement (PPA) for the supply of 100GWh/yr of solar energy for Votorantim Cimentos' cement plants between 2026 and 2041. The moves align with the producer’s aim to achieve 75% renewable energy reliance in its operations.

Published in Global Cement News
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Brazilian cement demand drops in 2023

12 January 2024

Brazil: Brazil consumed 62Mt in 2023, down by 1.7% year-on-year, according to data from the National Cement Industry Association (SNIC). This marks the second successive year of decline, after demand dropped by 2.8% to 63.1Mt in 2022. As a result, cement’s value on the National Construction Cost Index dropped by 6%, after having risen by 13% in 2022. The domestic cement industry recorded a capacity utilisation rate of 66% in 2023.

SNIC president Paulo Camillo Penna noted high household debt, high interest rates and poor income growth as impacting the industry’s sales. He said “The My House, My Life housing programme was not fully operational until the middle of the year. Up to September 2023, the construction industry experienced a 16% decline in the number of real-estate launches.” He continued “By 2026, we will experience a period of turnaround for the cement industry.”

Published in Global Cement News
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Átila Soares appointed as Sales Manager for Europe and Africa at FCT Combustion

10 January 2024

Austria: Australia-based FCT Combustion has appointed Átila Soares as its Sales Manager for Europe and Africa. He will be based at the company’s office in Vienna. Soares previously worked for Aumund Group in Brazil in a variety of roles since 2005. The latest position was as a Sales Manager based in São Paulo. He also holds a degree in mechanical engineering from the Faculdade de Engenharia Industrial (FEI) in Brazil.

Published in People
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Huaxin Cement completes acquisition of InterCement’s South African business

03 January 2024

South Africa: China-based Huaxin Cement completed its acquisition of Brazil-based InterCement’s South African business on 27 December 2023. MarketScreener News has reported that financial services firm JPMorgan Chase acted as advisor to InterCement. The deal concludes the Brazilian company’s exit from Africa, after it sold its Egyptian and Mozambique businesses earlier in 2023.

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Saint-Gobain completes Recife fibre cement products plant expansion

01 December 2023

Brazil: France-based Saint-Gobain has completed the construction of a new line at its Recife fibre cement products plant in Pernambuco. The expansion doubles the capacity of the plant to 200,000t/yr, at a cost of US$13.9m. The plant produces fibre cement products for sale under Saint-Gobain’s Brasilit brand.

Published in Global Cement News
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Brazilian cement sales to fall in 2023 before rising in 2024

30 November 2023

Brazil: The Brazilian National Cement Industry Association (SNIC) has forecast a drop of 1% year-on-year in cement consumption in Brazil during 2023. This is due to a slowdown in the residential construction sector, which accounts for 70% of national demand. SNIC forecast a 2% year-on-year rise in cement demand in 2024, due to increased infrastructure activity.

Brazil produced 52Mt of cement during the first 10 months of 2023, down by 2.1%. The country produced 61Mt of cement in 2022, corresponding to a capacity utilisation rate of 65%.

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Votorantim Cimentos to issue non-convertible debentures

15 November 2023

Brazil: 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.

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Votorantim Cimentos records growth in sales in third quarter of 2023

14 November 2023

Brazil: 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.”

Published in Global Cement News
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InterCement may sell Brazilian business

06 October 2023

Brazil: 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.

Published in Global Cement News
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Alan Svaiter elected president of Oficemen

13 September 2023

Spain: 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.

Published in People
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