Corporate

20 November 2014

PPC full-year cement sales rise 2%

South Africa's largest cement producer, PPC, reported a two per cent rise in cement sales for the full year to the end of September 2014, as growth in some of its sub-Saharan markets was offset by challenging operating conditions at home. Group revenue increased by nine per cent ...

19 November 2014

Holcim expects to select buyers for assets by end-Jan

Holcim said it expects to have found buyers for the cement plants and other operations linked to its tie-up with Lafarge by the end of January, and that the merger is on course to be completed by the middle of next y...

20 November 2014

Lafarge Malaysia's 3Q14 pretax down 54.2%

Lafarge Malaysia reported a 54.2 per cent drop in third-quarter pretax profit on lower revenue and higher operating cost arising from the increase in electricity and fuel prices. Pretax profit for the three months ...

20 November 2014

PCA appoints Toscas president and CEO

The Portland Cement Association (PCA) has named James G Toscas president and chief executive officer, effective 15 December 2014. For the past 11 years, Toscas served as president and CEO of the Precast/Prestressed ...

19 November 2014

Tangshan Jidong Cement Co to issue CNY1bn bills

Tangshan Jidong Cement Co, Ltd has announced that it will issue CNY1bn (US$16.3m) unsecured short-term bills with a maturity of 365 days on the interbank market on 21 November 2014. The company said in a statement ...

18 November 2014

Fitch assigns ‘BB+(EXP)’ to Elementia proposed notes, Outlook Stable

Fitch Ratings has assigned an expected rating of 'BB+(EXP)' to Elementia, SA de CV’s proposed US$400m notes with a maturity of up to 10 years. Proceeds from the notes issuance will be used for general corporate purp...

17 November 2014

Ashaka nine-month net profit up 3% YoY

Ashaka Cement Plc nine-month results for the period ended 30 September 2014 showed revenue growth of three per cent YoY to NGN17.3bn (US$100.9m) profit after tax rose 103 per cent YoY to NGN4.3bn. Nine months resul...

14 November 2014

Titan suffers in Egypt, but improves elsewhere

Titan’s turnover improved by 3.3 per cent to EUR879.7m in the first nine months of 2013, but EBITDA edged ahead by just 0.1 per cent to EUR146.7m. In the third quarter the EBITDA did decline by one per cent. The t...

14 November 2014

Oyak Group eyeing Lafarge and Holcim assets

Oyak Group, Turkey’s largest cement producer, has US$2bn in cash for acquisitions and may spend some of it on assets Holcim and Lafarge are looking to shed ahead of their planned merger. The head of the Ankara-based...

14 November 2014

Cementos Argos to fire Rioclaro kiln with tyres

Colombia’s Cementos Argos will be using tyres to fire its Rioclaro kiln with the option to extend the programme to its other plants. In Colombia, 110,000t, or 7m, of waste tyres are produced annually, of which 2.5m...

13 November 2014

India Cements: back in the black

India Cements has reported a profit for the July-September quarter on higher income and lower expenses following a loss in the same period of the previous year. For the three months to the end of September 2014, th...

13 November 2014

UAE: National Cement nine-month net profit up 2% YoY

UAE-based producer National Cement Company said on Wednesday its net profit for the first nine months of 2014 rose 1.97 per cent to AED77.5m (US$21.1m) from AED76m in the corresponding period of 2013. Earnings per s...

12 November 2014

India Cements board to consider raising INR5bn, mulls MSE delisting

India Cements today said its board will consider a proposal to raise INR5bn (US$81.3m) from investors. "The Board of Directors at its meeting will, consider the following issue of QIP, FCCB, GDR and/or other securit...

14 November 2014

Raysut Cement nine-month net profit up 8% YoY

Raysut Cement, Oman's biggest cement producer, reported an eight per cent increase in net profit to US$60.21m compared with US$55.71m in the same period of last year. Revenue was US$183m for the period, just ahead...

12 November 2014

South Valley to bid for additional shares in BMIC, Egypt

South Valley Cement Company voted on Sunday to bid for no less than 30 per cent of Egyptian Building Materials Industry Company (BMIC), to add it to the 47.61 per cent of the shares that it currently owns. The offer...

12 November 2014

TCC International unit to acquire Hunan Jindadi Materials Company Ltd

TCC International (Hong Kong) Company Ltd, a wholly-owned subsidiary of TCC International Holdings Ltd, has entered into an agreement to acquire 100 per cent stake in Hunan Jindadi Materials Company Ltd. Hunan Jin...