Displaying items by tag: VICAT
Sinai Cement starts production efficiency plans
19 June 2019Egypt: Sinai Cement has started implementing its plans to improve its production efficiency. Vicat Egypt, one of the owners of the company, plans to invest Euro30m into its subsidiary. It has already granted Sinai Cement a loan of Euro10.6m and the cement company received a first tranche of Euro2.6m in April 2019.
Vicat’s sales boosted by Ciplan acquisition
07 May 2019France: Vicat’s sales have risen due to its acquisition of Ciplan in Brazil. Its sales rose by 4.7% year-on-year to Euro600m in the first quarter of 2019 from Euro573m in the same period in 2018. However, adjusted for the acquisition, its sales remain stable. The group’s cement sales revenue fell by 1.4% to Euro302m when similarly adjusted. Its concrete and aggregate sales rose by 6.6% to Euro225m.
“The rise in prices across all zones has resulted in stable consolidated sales at constant scope and perimeter, despite strong volume erosions in Turkey as a result of the 2018 lira devaluation and of the consequences of highly adverse weather conditions in California. The integration of Ciplan in Brazil is on track amid conditions that are stabilising after several years of major consumption falls,” said chairman and chief executive officer (CEO) Guy Sidos.
By region sales were strong in France, stable in the rest of Europe and Africa and poor in the Americas, Asia and Turkey. Poor weather in California dragged down sales in the US, competition was reported in India and an economic slowdown was reported in Turkey.
US: National Cement is tendering for a new 5000t/day production line at its Ragland plant in Alabama. The subsidiary of France’s Vicat has reportedly had a permit for the upgrade since 2006. The plant operates one dry process kiln with a production capacity of 1.9Mt/yr.
Senegal: The Ministry of Commerce says that a shortage of cement should be averted by the end of April 2019. A breakdown in the clinker production line at the SOCOCIM plant in Rufisque has led to reduced supplies, according to Senegal Direct. The subsidiary of France’s Vicat is arranging imports of clinker in the meantime.
Vicat builds sales in 2018
20 February 2019France: Vicat’s sales rose slightly to Euro2.58bn in 2018 from Euro 2.56bn in 2017. Its cement sales volumes fell slightly to 22.8Mt and its ready-mix concrete sales volumes decreased by 6.7% year-on-year to 9.04Mm3. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) dropped by 2.2% to Euro435m from Euro444m. However, at constant scope and exchange rates its sales and earnings rose by 5.9% and 2.7% respectively.
“Vicat delivered a satisfying performance in 2018, in a very mixed operating environment that saw large seasonal variations. The dynamism of the group’s sales teams, combined with a very firm grip on costs, allowed us to limit the consequences of the monetary and geopolitical difficulties affecting some of our markets,” said Guy Sidos, the group’s chairman and chief executive office (CEO). He added that the company had also reduced its debt in 2018 and purchased Ciplan in Brazil.
The group reported growth in France in all businesses and good sales in Kazakhstan, India and Turkey. Improvement was noted in the US, despite weather issues, and Senegal. There was a slight fall in sales in Europe, excluding France, and Egypt experienced a ‘sharp’ fall in sales and volumes.
Vicat completes purchase of majority stake in Ciplan
22 January 2019Brazil: France’s Vicat Group has completed its purchase of a 65% stake in Cimento Planalto (Ciplan). The transaction was structured through a reserved capital increase of Euro295m. Proceeds will be used to settle Ciplan's existing debt. Ciplan operates a 3.2Mt/yr integrated plant at Sobradinho in Bahia near to Brasilia. It also runs nine ready-mixed concrete plants and five aggregates quarries.
Vicat to invest Euro30m in Egypt
14 January 2019Egypt: France’s Vicat and its subsidiary Sinai Cement plan to invest Euro30m in the local market. Vicat Egypt’s chief executive officer (CEO), Tamer Magdy, said that the investment is intended to meet demand for cement, according to Mubasher. He added that the company would continue to invest in the Sinai Peninsula despite on-going security issues.
Vicat’s nine months results benefit from French market improvement
07 November 2018France: Vicat’s cement sales rose by 1.8% year-on-year to Euro948m in the first nine months of 2018 from Euro932m in the same period in 2017. At constant scope and exchange rates it rose by 10.2%. Overall sales grew by 1.4% to Euro1.95bn from Euro1.92bn. The group’s sales volumes of cement rose by 3.1% to 17.4Mt from 16.9Mt.
“The group achieved healthy increases over the period in all our territories, except Switzerland and Egypt,” said the group’s chairman and chief executive officer (CEO) Guy Sidos. “In the third quarter, business trends held up well, despite a downturn in the economic and industry environment in Turkey, which was hit by the sharp depreciation in its currency. The acquisition of Ciplan in Brazil, a country with tremendous potential, reinforces Vicat’s strategy of sustainable growth, leveraging its high-quality assets and strong regional positions to generate cash flow.”
Vicat buys majority stake in Ciplan
05 October 2018Brazil: France’s Vicat Group has acquired a majority share in Cimento Planalto (Ciplan). It has signed a binding agreement to buy a 65% share for Euro290m through a reserved capital increase. Ciplan will use the proceeds of the share to settle the ‘vast majority’ of its existing debt. Vicat noted that the transaction will be debt funded and its closing is subject to the fulfilment of ‘certain’ conditions.
Ciplan operates a 3.2Mt/yr integrated plant at Sobradinho in Bahia near to Brasilia. It also runs nine ready-mixed concrete plants and five aggregates quarries.
Vicat says that this acquisition is intended to support its targeted external growth and geographical diversification strategy. In order to ‘capture’ the Brazilian market the company plans to leverage an industrial asset base, strong brand awareness, abundant quarry reserves and a competitive position in its local markets.
Vicat confirms talks with Ciplan
21 September 2018Brazil: France’s Vicat has confirmed that it is in talks with Ciplan. Local newspaper Valor Econômico revealed that Vicat was in the ‘final stages’ of buying the cement producer. Ciplan was founded in 1968 and it operates an integrated plant at Sobradinho in Bahia near to Brasilia.