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Cimento Tupi files for bankruptcy Written by Global Cement staff
26 January 2021
Brazil: Cimento Tupi has filed for so-called preventative bankruptcy to deal with its US$627m total debts, with the majority attributable to bondholders. The Valor Economico newspaper has reported that the cement producer has suffered due to a downturn in the sector since 2014 and currency depreciation.
The producer has an installed capacity of 2.5Mt/yr consisting of one integrated plant at Pedra do Sino in Minas Gerais and a grinding plant in Modi das Cruzes in São Paulo. In 2011 it began modernisation of its cement operations, for which it withdrew bank loans. Lenders launched legal action in April 2019 after the company defaulted on around US$30m of repayments to foreign investors.
Tribute to paradigm of Cuban internationalism in Angola
Tribute to paradigm of Cuban internationalism in Angola
Luanda, Dec 11 (Prensa Latina) At the foot of the grave of Commander Raul Diaz-Argüelles at Alto das Cruzes cemetery, a tribute was paid on Friday to the Cuban internationalists killed in combat in Angola.
Under restrictive measures due to Covid-19, only a small group of Cuban managers, ANTEX Group s workers and diplomats could attend the meeting on behalf of more than 1,000 compatriots who are currently working in this country.
Renowned here in wartime as Domingo da Silva, Diaz-Argüelles lost his life early December 11, 1975, in the Hengo commune, Cuanza Sur province, during the Battle of Ebo.