Brazil: Votorantim’s sales from its cement business have grown due to increased sales volumes in Brail, Turkey, India and Latin America. Higher prices in North America and Europe, Asia and Africa also contributed to the result. Votorantim Cimentos’ sales revenue grew by 11% year-on-year to US$682m in the first half of 2018 from US$613m in the same period in 2017. Local sales in Brazil grew by 13% to US$417m due to concrete and mortar sales. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 28% to US$65.3m from US$50.8m.
Production resumes at ANCAP following strike
Uruguay: Production has resumed at the Administración Nacional de Combustibles, Alcoholes y Portland’s (ANCAP) Minas and y Paysandú cement plants following a strike, according to the El Espectador newspaper. The disruption ended following negotiation between management, the union, the Ministry of Industry, Energy and Mining and the Ministry of Labor and Social Security. In April 2018 it was reported that production at the Minas plant had stopped for two months due to union action.
Cementos Argos sales fall due to US and local markets
Colombia: Cementos Argos’ sales have fallen due to decreased cement sales volumes in Colombia and the US. It blamed poor weather in the US and a large number of holidays in Colombia for the situation. Its sales revenue dropped by 8.2% year-on-year to US$677m from US$737m. However, its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 2% to US$107m from US$104m.
“The growth of EBITDA throughout all our regions is proof that the strategy we established is beginning to reap the benefits of the best efficiency programme and to focus our initiatives in continuing to provide the best experiences to our clients,” said Juan Esteban Calle, president of Cementos Argos.
Cement sales volumes fell by 4.1% overall to 3.69Mt. Volume drops were noted in Colombia and the US but in the rest of the world they rose by 11%.
Dewan Cement rejects takeover bid by Mega Conglomerate
Pakistan: Dewan Cement has rejected a takeover bid by Mega Conglomerate to buy a 87.5% stake in it. Chairman Dewan Mohammad Yousuf Farooqui turned down the offer following a valuation of the company, according to the Pakistan Today newspaper. The valuation reported that the value of the cement producer was below the initial offer made by Mega Conglomerate due to low capacity utilisation rates at Dewan’s plants and the need for investment at the sites. Dewan Cement has claimed that negotiations are still on going.
