Corporate

18 April 2014

Asia Cement (China) reaches Sichuan purchase deal

Asia Cement (China) Holdings Corp, the Chinese unit of Taiwans second-biggest cement maker, has reached a share purchase deal with Sichuan Lanfeng Cement Co. In a filing with the Hong Kong Stock Exchange, Asia Cement (China) said it had acquired 100 per cent of the equity interest in...

18 April 2014

Saudi: Arabian Cement quarterly net profit up 6.2% YoY

Saudi-based Arabian Cement Company (ACC) posted a SAR167.1m (US$44.6m) net profit for the first quarter of 2014, up 6.2 per cent from SAR157.3m a year ago. Earnings per share (EPS) stood at SAR 2.09, compared with SA...

18 April 2014

Semen Baturaja sales up 24% in first three months

Indonesian state-owned cement maker PT Semen Baturaja's first-quarter sales rose 24 per cent to 305,000t from a year earlier. The cement producer has also opened a new cement mill with a capacity of 750,000tpa, acco...

17 April 2014

CEO Dr Scheifele: LH merger no threat to HeidelbergCement

The announced mega-merger of Lafarge and Holcim is expected to change the competitive landscape in the cement industry as a new global building materials giant, LafargeHolcim, is created. Where does this leave other ...

17 April 2014

Holcim Spain to cut staff by 122

Holcim Spain and unions have reached a preliminary agreement to reduce the company’s staff of 650 by 18.7 per cent, according to the Spanish news service ABC. As a result 122 workers would be affected, rather than t...

17 April 2014

Italcementi shareholders approve 2013 results

At Italcementi’s annual general meeting in Bergamo yesterday, the shareholders of Italcementi SpA approved the financial statements for 2013. The company closed the year with an operating profit of EUR159.3m (against...

16 April 2014

Bosowa Maros plans IPO by 2016

The Bosowa Group of Indonesia plans to take its cement unit, Semen Bosowa Maros, to an initial public offering by 2016. “We may go public within the next two years. The market’s been anticipating Semen Bosowa will ...

17 April 2014

China Resources Cement sees strong growth in attributable profit

China Resources Cement (CRC) has said it expects profit attributable to shareholders for the quarter ending 31 March 2014 to be significantly higher compared to the corresponding period of 2013. The improvement is ...

15 April 2014

Egypt: ACC to start IPO roadshow next week

Egypt's Arabian Cement Company (ACC) plans to start an international roadshow next week to float between 22.5-30 per cent of the company, its chief executive, Jose Maria Magrina, told Reuters on Monday. "Our target ...

16 April 2014

Fitch affirms Siam City Cement’s long-term rating, outlook ‘Stable’

Fitch Ratings has affirmed Thailand-based Siam City Cement Public Co Ltd's (SCCC) National Long-Term Rating at 'A(tha)', its National Short-Term Rating at 'F1(tha)', its National Long-Term Rating on its senior unsecu...

16 April 2014

Fitch affirms Holcim long-term rating

Following the announcement by Holcim to merge with Lafarge SA, Fitch Ratings has affirmed the Swiss major's Long-term Issuer Default Ratings (IDR) at 'BBB'. The Outlook is Stable. The affirmation reflects the combi...

11 April 2014

Anglo American completes the sale of Tarmac Building Products to Lafarge Tarmac

Anglo American plc announced the completion of its sale of Tarmac Building Products Limited (TBP) to Lafarge Tarmac Holdings Ltd (Lafarge Tarmac), following receipt of regulatory approval. Anglo American announced o...

11 April 2014

SCCC cautious on revenue growth and demand

Siam City Cement (SCCC) is cautious on its outlook for the year and expects marginal or even flat revenue growth. Speaking to the Bangkok Post, director and chief executive Vorathep Rangchaikul, said the political c...

10 April 2014

Argos acquires French Guiana assets

Colombia's largest cement maker, Argos, said on Wednesday it will pay EUR50m to acquire Ciments Guyanias, owned equally by Lafarge and Holcim, just two days after the European majors announced a merger. The purchase...

10 April 2014

Brazil: Votorantim Cimentos plans bond buyback

Votorantim Cimentos yesterday unveiled plans to buy back up to US$1.03bn in overseas bonds due 2017, according to a banker close to the transaction. The bonds carried an annual coupon of 5.25 per cent and a yield of...

10 April 2014

Fitch Ratings considers Lafarge upgrade

Fitch Ratings announced yesterday it considers upgrading the credit rating of French concrete and cement group Lafarge after the company unveiled its merger with Swiss peer Holcim. The ratings agency said it is moti...