Displaying items by tag: CSN Cimentos

Brazil: 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.

Brazil: Companhia Siderurgica Nacional (CSN) subsidiary CSN Cimentos began operating as an independent company on 1 February 2021. The Valor Economico newspaper has reported that the move is a preliminary to a likely future initial public offering (IPO) in the near-term although no date has been set yet. Under the same strategy, sister company CSN Mineracao is due to launch its IPO of US$1bn on 18 February 2021.

The 4.7Mt/yr-cement capacity producer operates two integrated plants and it is planning an 8.6Mt/yr expansion consisting of an upgrade to its Arcos plant and three new cement plants at Para, Parana and Sergipe respectively.

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.”

Brazil: 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.

Brazil/US: FCT Combustion has released details on contracts it has been awarded from CSN Cement Brazil and Ash Grove Cement. CSN Cement Brazil in Arcos, Brazil has ordered a Turbo-Jet kiln burner with a maximum thermal power of 102Gcal/hour for high sulphur petcoke, heavy fuel oil, alternative solid fuel and alternative liquid fuels firing for its 6500t/day cement kiln. Ash Grove Cement in Seattle, Washington in the US has awarded a contract for 63Gcal/hour Gyro-Therm MKII kiln burner for natural gas firing.

FCT Combustion has also opened new offices in Fort Lauderdale, Florida and São Paulo, Brazil.

Brazil: CSN Cimentos plans to invest US$608m towards building two new cement plants in Arcos and Romaria in Minas Gerais. The next step is for a letter of intention to be signed by state and municipal authorities, according to local media. Additionally, CSN's existing cement plant in Volta Redonda will be upgraded with a new clinker kiln and three mills. The plants cement production capacity will be increased by 2.4Mt/yr to 5.4Mt/yr.

Brazil: 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.