Corporate

27 March 2015

Dangote Cement pretax profit down 3.2%

Dangote Cement's pretax profit fell 3.2 per cent to NGN184.68bn (US$928m) last year due to a gas shortage and the impact of wet weather on construction activity, the company said on Thursday. The company said sales volumes in its domestic market of Nigeria fell 3.2 per cent to 12.87M...

27 March 2015

Buzzi offer to purchase SACCI SpA accepted

Buzzi Unicem announced today that further to its proposed purchase of a 99.5 per cent interest in the share capital of SACCI SpA, controlling shareholders have accepted the binding offer. Last week Buzzi announced t...

27 March 2015

Cemex to supply state-of-the-art transit systems in California Bay area, USA

Cemex is to supply structural concrete on two massive, state-of-the-art transit systems in the California Bay Area which, upon completion, are expected to serve more than 61 million people every year. Between 2000 a...

27 March 2015

Holcim launches upto US$741.4m selldown in Siam City shares

Holcim Ltd on Thursday launched an up to US$741.4m selldown of shares in Thailand's second-largest cement company Siam City Cement PCL (SCCC), IFR reported, citing a term sheet of the deal. Holcim is selling 63.29 m...

26 March 2015

Cementos Argos readies itself for 'vibrant' US market growth

With US demand recovery on a roll, Cementos Argos is readying itself for 'vibrant' growth in the years ahead with the group having consolidated its presence in nine strategic states. Last year, Argos recorded histor...

26 March 2015

ARM posts flat full-year pretax profit

Kenya's ARM Cement posted a pretax profit of KES2.02bn (US$22m) for 2014, up one per cent YoY. The cement maker, which also has operations in Tanzania, said its revenue for the period fell three per cent to KES13.74...

25 March 2015

Hetauda reports accumulated loss of US$6.42m at end-2014

Nepal-based Hetauda Cement Industries Ltd (HCIL) reported an accumulated loss of US$6.42m at the end of its 2014 financial year. "We faced a loss of US$692,829 in 2011-12 and US$95,251 in 2012-13. Our annual loss i...

25 March 2015

Sabanci cement unit seeks acquisition opportunities

Turkey-based Sabanci Holding's cement business expects its sales to rise 10-15 per cent this year after posting a 16 per cent increase to TRL2.5bn (US$980m) in 2014, the cement unit's chief executive said. Sabanci...

23 March 2015

Dalmia Cement (Bharat) reports rise in 3Q volumes

Dalmia Cement (Bharat) Ltd announced its financial results for the quarter ended 31 December 2014, reporting a YoY increase in volumes and income. Income rose to INR7.94bn from INR7.07bn in 3Q14, led by a six per c...

23 March 2015

Fitch downgrades Cemento Tupi's ratings

Fitch Ratings has downgraded Cimento Tupi SA's (Tupi) ratings as follows: foreign currency Issuer Default Rating (IDR) to 'CCC' from 'B-'; Local currency IDR to 'CCC' from 'B-'; Senior unsecured notes due 2018 to 'CC...

20 March 2015

Lafarge and Holcim agree on revised terms

Lafarge and Holcim are back on track with their proposed merger having reached an agreement on revised terms for the deal. Holcim demanded new terms earlier this week, stating that the merger could no “longer be p...

20 March 2015

Moody's: WCC's weakened 2014 results to have no impact on ratings

Moody's Investors Service says that West China Cement Ltd's (WCC) weakened 2014 results are in line with the rating agency's expectations and will have no immediate impact on the company's B1 corporate family and sen...

20 March 2015

AshakaCem Plc appoints new chairman, Nigeria

AshakaCem Plc, a subsidiary of Lafarge Africa Plc, has appointed Malam Suleiman Yahyah as its chairman. The appointment followed the expiration of the tenure of Alhaji Umaru Kwairanga, who has stepped down. The ...

25 March 2015

HeidelbergCement ‘confident’ on 2015 outlook

HeidelbergCement’s 2014 consolidated financial results show increases in revenue and operating income, and significant increases are expected for the year in hand. The group's turnover increased by four per cent la...

20 March 2015

Buzzi Unicem proposes to acquire SACCI

Buzzi Unicem is offering EUR120m for a 99.5 per cent stake in SACCI and the simultaneous relief of all outstanding liabilities from a previous debt restructuring agreement.  The proposal is seen as a further step in ...

19 March 2015

Reliance to sell part of cement division?

Reliance Infrastructure, part of the Anil Ambani-led Reliance Group, may sell half of its cement business to fund the acquisition of Pipavav Defence and Offshore Engineering. Reliance Cement is in talks with Heidel...