Corporate

17 September 2014

Spain: FCC to transfer rescue funds to Portland Valderrivas

Spanish builder Fomento de Construcciones & Contratas SA (FCC) is to help its cement unit Cementos Portland Valderrivas make a debt payment by transferring rescue funds, according to reports by Bloomberg citing sources familiar with the matter. FCC has reportedly received approval to ...

17 September 2014

Lafarge Africa completes consolidation process

Lafarge Africa Plc, formerly Lafarge Cement Wapco Nigeria Plc, has announced the completion of its acquisition of the Lafarge group’s shareholdings in Lafarge South Africa Holdings and United Cement Co of Nigeria. G...

16 September 2014

Lafarge to sell Russian cement plant to Buzzi Unicem

Buzzi Unicem, through its fully-owned subsidiary Dyckerhoff GmbH, has reached an agreement to acquire a 100 per cent interest in Lafarge's UralCement plant in Russia for an enterprise value of EUR104m. The 1.1Mta ...

16 September 2014

HeidelbergCement's Hanson Building Products files for IPO

HeidelbergCement announced that its subsidiary, Hanson Building Products Ltd, has filed a registration statement with the US Securities and Exchange Commission for a potential initial public offering (IPO) of its ord...

16 September 2014

Steppe swings to first-half loss

Kazakhstan cement producer Steppe Cement Ltd posted a consolidated loss after tax of US$4.1m for the six months ended 30 June 2014 against a profit of US$2.2m in the comparative period of last year. Sales increased...

15 September 2014

PPC says slower domestic economic growth hurting volumes

South Africa's largest cement producer, PPC, has said slower domestic economic growth and declining infrastructure spending has resulted in a "particularly tough" domestic market. “Low single-digit” volume declines...

15 September 2014

CIMB upgrades Semen Indonesia

Analysts at CIMB has upgraded Semen Indonesia to an add rating and lifted its target price from IDR17400 (US$1.46) to IDR18300 following a substantial government-mandated increase to dividend payouts of cash-generati...

12 September 2014

Sagar reportedly looking to acquire BMM Ispat cement assets

Sagar Cements is reportedly planning to acquire the cement business of Bangalore-based BMM Ispat Group. Local press report anticipate that the deal is likely to be sealed in a couple of weeks. BMM has a 1Mta cement...

12 September 2014

Ash Resources’ new Commercial Manager, South Africa

Ash Resources, South Africa’s leading manufacturer and supplier of fly ash products, has appointed Nicola Viljoen as its new Commercial Manager with effect from 1 September 2014. In her previous role as Senior Purc...

12 September 2014

Grupo Argos raises US$509m in bond sale

Grupo Argos, the parent company of Colombia's leading cement producer Cementos Argos, has raised COP1trn (US$509.4m) in a bond sale on Wednesday that was more than doubly oversubscribed, the company said in a filing ...

11 September 2014

Ashaka Cement stake changes hands

Lafarge Group has sold 58.61 per cent of its stakes in Ashaka Cement Plc to Lafarge Africa Plc in a deal valued at NGN41bn (US$252m). Lafarge sold 1.3bn ordinary shares of its Ashaka Cement at NGN30.95 each. The sa...

11 September 2014

EC clears Holcim and Cemex Spanish deal

The European Commission (EC) has cleared, under the EU Merger Regulation, the proposed acquisition of Holcim’s Spanish operations by Cemex, the last of three transactions under scrutiny in the European tie-up between...

10 September 2014

Court of Appeal postpones Ahangarancement case in Uzbekistan

The Board of Appeals of the Tashkent Regional Economic Court adjourned the case on the claim of the Russian Eurocement Group holding due to the decision to invalidate the privatisation of Ahangarancement JSC. "The ...

11 September 2014

Dubai to acquire interest in Dangote Cement

Investment Corporation of Dubai (ICD), the main investment arm of the Emirate of Dubai, has agreed to purchase a minority interest in Nigeria's largest cement manufacturer, Dangote Cement plc, from majority shar...

12 September 2014

Taiheiyo dissolves Xinjiang joint venture

Taiheiyo Cement has ended a Chinese joint venture with a Xinjiang-based company in response to government efforts to cut excess capacity in the cement sector. Following calls by Beijing to curb investment in the ce...

11 September 2014

Unacem plans to invest US$58m in 2015

Peru's Unacem intends to invest US$58m in its Atocongo and Condorcocho works next year. The projects focus on the development of the Carpapata III hydropower plant, the cement mill and packing area (Condorcocha) as w...