Corporate

01 October 2014

Cemex enters new US$1.35bn credit agreement

Cemex SAB de CV announced it entered a new credit agreement for US$1.35bn with nine of the main lending banks from its Facilities Agreement of 17 September 2012. The new agreement’s main terms include an average four-year term with equal semi-annual payments of principal of 20 per ce...

01 October 2014

Reliance Infrastructure plans to triple capacity to 15Mta by 2017

India’s Reliance Infrastructure plans to nearly triple its cement capacity to 15Mta over the next three years. The current capacity at the company, led by Anil Ambani, is 5.8Mta as the cement producers operates plant...

01 October 2014

India: Zuari Cement to build 3.23Mt works in Gulbarga

Through its Gulbarga Cement Ltd (GCL) subsidiary, Zuari Cement plans to build a 3.23Mta cement works in Gulbarga, Karnataka, India. In addition, the company will be setting up a 50MW captive power plant. The founda...

01 October 2014

Summit Materials in line for cement IPO?

Summit Materials LLC, which is co-founded by Blackstone Group LP, is preparing an initial public offering (IPO) this year as concrete deals intensify, according to sources quoted by Bloomberg. The sharesale will b...

30 September 2014

Cohrs elected chairman of CTLGroup Board of Directors

The CTLGroup Board of Directors elected Cary O. Cohrs as chairman during the organisation’s recent autumn board meeting in Chicago, Illinois, USA “Cary Cohrs brings a wealth of construction-related leadership to t...

26 September 2014

Chinese companies ink Indonesian plant agreement

Two Chinese companies signed an agreement on Thursday to jointly invest in an Indonesian cement factory as part of investment cooperation measures agreed by the two countries in 2013. State Development and Investme...

25 September 2014

Sagar gets Board nod for BMM acquisition

The board of Sagar Cements has given approval in-principle for the acquisition of a 100 per cent equity stake in BMM Cements Ltd as the company seeks to expand its presence in southern India. The deal involves the ...

25 September 2014

Semen Indonesia seeks loan for Papua plant construction

Semen Indonesia is seeking IDR600-IDR840bn(US$50-70m) in bank loans to help finance construction of a new cement plant in Jayapura, Papua, according to reports by the Jakarta Globe. Indonesia's largest cement produc...

26 September 2014

South Valley Cement 1H net profit reaches EGP64.9m

Egyptian cement producer South Valley Cement Co said yesterday its first-half net profit increased to EGP64.9m (US$9.07m). In the comparative period of the previous year, the company’s net profit stood at EGP 57.8m.

25 September 2014

Sabanci Holding eyes LafargeHolcim assets

Turkish conglomerate Sabanci Holding plans to bid for some of the assets Lafarge and Holcim must sell to receive approval from competition watchdogs ahead of its planned merger, a source with knowledge of the deal to...

24 September 2014

Elementia: Fortaleza brand to register 20% growth in 2014-15

Despite a slow market, Mexico’s Cementos Fortaleza expects to close 2014 and 2015 with growth. Antonio Taracena, director general at Elementia, owner of the Fortaleza brand, attributes the growth due to the new brand...

24 September 2014

India Cements to demerge Super Kings division

India Cements said Tuesday it would demerge the Chennai Super Kings (CSK) division into a wholly-owned subsidiary. "Our company presently owns Chennai Super Kings (CSK) - BCCI-IPL Franchise 20/20 Cricket Tournament ...

24 September 2014

Eagle Materials appoints Beckwitt to Board of Directors

Eagle Materials announced that it has appointed Richard Beckwitt to its Board of Directors. Mr Beckwitt is President of Lennar Corporation, where he has worked for eight years. Prior to his work with...

25 September 2014

PPC chief executive quits, South Africa

Ketso Gordhan, the chief executive officer of PPC Ltd (PPC), resigned from his post at South Africa’s largest cement maker because of differences with the board. Mr Gordhan, who was appointed at the start of last y...

23 September 2014

Senior appointments at Star Ferro and Cement Ltd

Star Ferro and Cement Ltd has appointed Sanjay Kumar Gupta as chief executive officer, effective 20 September 2014. Dilip Kumar Agarwal has been appointed chief financial officer, also effective 20 September 2014.

22 September 2014

Mexico: Lafarge sells its minority stake in Elementia

Lafarge announces the sale of its 47 per cent minority stake in its cement operations in Mexico to Elementia for a cash consideration of US$225m (EUR175m). The joint venture between Lafarge and Elementia operates t...