Corporate

30 January 2015

CRH withdraws from aerated concrete in Poland

The Polish CRH subsidiary Grupa Ozarow has now received Polish competition authority approval to sell its aerated concrete subsidiary Grupa Prefabet SA to the Danish aerated concrete producer H+H International.  The deal values Grupa Prefabet at just over €14m and the move is aimed ...

28 January 2015

India Ratings reaffirms Long-Term Issuer Rating to HeidelbergCement India

Credit rating agency India Ratings and Research has reaffirmed Long-Term Issuer Rating of 'AA-' with stable outlook to the HeidelbergCement India. The rating indicates the high degree of safety regarding timely ser...

29 January 2015

Johnston named PCA Government Affairs Vice President

PCA named A Todd Johnston as vice president for government affairs, effective 19 January 2015. Based in the association's Washington office, he will represent PCA and its members with the federal government. Johnst...

29 January 2015

PPC cautions on half-year earnings

South Africa's biggest cement maker, PPC, advised yesterday that its earnings in the six months to the end of March 2015 may fall by as much as 45 per cent partly due to rising finance costs. The company said in a...

27 January 2015

Siam Cement 4Q profit projected to dip, positive 2015 outlook

Siam Cement is expected to report lower 4Q14 earnings as a result of an inventory loss in its petrochemical unit and the impact of the economic slowdown. Going forward, a promising outlook for petrochemicals and grow...

29 January 2015

UltraTech quarterly revenue rises 15% YoY

India's largest cement producer, UltraTech Cement, reported a 15 per cent YoY increase in net sales for the quarter ended 31 December 2014 to INR54.9bn. Earnings before interest depreciation and tax for the three ...

29 January 2015

Ecuador: Peru’s Cementos Yura buys stake in Unión Cementera Nacional

Cementos Yura, part of Peru’s Grupo Gloria, has acquired a 63.5 per cent share in state-owned Unión Cementera Nacional of Ecuador, which will hold the balance of shares. The $230m investment will be disbursed to t...

26 January 2015

Dongwu Cement placement of new shares

China-based Dongwu Cement said it agreed to place up to 40 million new shares at HK$1.3 apiece, representing a premium of about 3.17 per cent to the closing price of H$1.26. The placing shares represent around 7.25 ...

23 January 2015

Acting Semen Indonesia CEO named new head

PT Semen Indonesia Tbk on Friday appointed acting chief executive officer, Suparni, as its new head. His term will expire in 2019. In November, o, picked Semen Indonesia's previous CEO, Dwi Soetjipto, Suparni, who ...

23 January 2015

Fitch upgrades GCC’s ratings, outlook to stable

Fitch has raised the credit rating of Mexican cement firm Grupo Cementos de Chihuahua (GCC) to BB-, in both local and foreign currency, with a stable outlook. Fitch said in a statement that ratings upgrade reflects ...

23 January 2015

Russia: LSR completes cement divestment

LSR Group has completed sale of its cement plant located in Slantsy, Leningrad region, to Russian market leader, Eurocement. Following closure of the deal, Eurocement has now acquired full operating control over th...

22 January 2015

Saudi: Al Jouf Cement's 4Q14 profit surges

Al Jouf Cement Co posted a SAR20.7m (US$5.51m) net profit for the fourth quarter of 2014, with an increase by 160.49 per cent YoY from SAR7.9m and 141.26 per cent QoQ from SAR8.6m. Meanwhile, FY14 net profit amount...

22 January 2015

Lafarge to buy back Baring stake in Indian unit

Lafarge India is reportedly buying back the 14.03 per cent stake it sold to global private equity investor Baring Private Equity Asia in 2013. Through its wholly-owned subsidiary Paris Cement Investment Holdings, Ba...

20 January 2015

CCI decision on Lafarge and Holcim merger due ‘within a month’

The Competition Commission of India (CCI) will soon decide on the proposed merger between Lafarge and Holcim, the Economic Times (India) cited CCI chairman, Ashok Chawla, as saying. "The final order on the case shoul...

22 January 2015

Egypt: Supreme Administrative Court suspends privatisation appeal

The Supreme Administrative Court has decided to halt proceedings looking into the appeal against the privatisation of Egypt-based Beni Suef Cement Company. The court has ordered that workers are reinstated to the c...

20 January 2015

HeidelbergCement expects positive earnings impact on falling prices

HeidelbergCement AG expects the falling oil prices to have a positive effect on the company`s earnings in 2015, a company spokesperson told German weekly Euro am Sonntag. The low fuel prices will have a positive imp...