Displaying items by tag: Cimpor
Cimpor propped up by emerging markets
01 March 2012Portugal: In 2011 Cimentos de Portugal (Cimpor), Portugal's largest cement group, posted a net profit of Euro198.1m, down 18% year-on-year but turnover rose by 1.6% to Euro2.3bn.
The group, which is currently more than 50%-owned by Brazilian groups Camargo Corrêa and Votorantim, saw its interests in Mozambique, China, Brazil and Turkey bolster its results for the year. In Mozambique Cimpor's turnover rose by 30% to Euro114.6m and in China it was by over 20% to Euro127.6m, according to the group's chairman Francisco Lacerda.
The group's turnover also rose by 13% to Euro689m in Brazil while Portugal (-13.7%), Spain (-8.3%) and Egypt (-27%) were markets in which the group's turnover decreased."Because of its economic vigour and the size of the group's presence in that market, Brazil continued to be the main growth driver in Cimpor's portfolio," said Lacerda.
Two new contracts for FLS in Brazil
29 December 2011Brazil: Denmark's major cement plant manufacturer, FLSmidth, has signed a contract for two cement projects worth a total of US$132m with Cimpor Cimentos do Brasil Ltda in Brazil. The contract comprises equipment for the Caxitu project, a new greenfield cement plant in Paraiba State near the town of Joâo Pessoa and for a new kiln line project at the Cezarina cement plant located in Goias State, 130km from Goiania.
The scope of supply for the Caxitu project includes a circular limestone storage dome, a longitudinal storage and reclaimer system for raw materials and a similar system for additives, a longitudinal storage facility for petcoke, an Atox raw mill, a Tirax coal mill, an in-line calciner preheater system and a Rotax kiln and SF cooler. The scope of supply for the Cezarina project comprises a complete pyro-processing line including an Atox raw mill, a CF silo, an in-line calciner preheater system, a Rotax kiln and an FLSmidth Cross-Bar cooler. FLSmidth will also supply air pollution control systems for the two projects, featuring the latest pyro technology for burning and utilising alternative fuels.
"Brazil is continuously investing heavily in development projects, both to support upcoming events such as the FIFA World Cup and the Olympic Games and to provide housing and build infrastructure," said Group CEO Jørgen Huno Rasmussen. "This order enables FLSmidth to maintain its leading role in supporting Brazil's rapidly expanding cement industry and maintain close ties with our long term customer Cimpor."
The order will contribute beneficially to FLSmidth's earnings until commissioning in 2013.
Camargo Corrêa denies takeover bid of Cimpor
21 October 2011Brazil: Construction group Camargo Corrêa has denied that it is in talks to buy a remaining stake in Portuguese cement maker Cimpor.
Camargo Corrêa and industrial conglomerate Votorantim have been reported as being in talks to buy the additional stake. According to one source, Camargo Corrêa plans to take over Cimpor's operations in Brazil while Votorantim would consolidate assets of the Lisbon-based company outside of Brazil.
"There isn't any change in the position of this company regarding Cimpor," Camargo Corrêa said in a statement. Camargo Corrêa and Votorantim currently hold 54.1% of Cimpor.
The value of the remaining stake is about Euro1.5bn based on Cimpor's closing share price on 19 October 2011. Votorantim and Camargo Corrêa acquired 53% of Cimpor early in 2010 after beating an offer from steelmaker Companhia Siderúrgica Nacional.