Corporate

20 August 2014

TCL second-quarter revenue up 9% on 'strong' demand in key markets

Trinidad Cement Ltd (TCL) saw second-quarter revenue rise by nine per cent to TTD560m (US$88.3m) as demand remained strong in key markets. EBITDA and non-recurring charges climbed 16 per cent YoY to TTD132.2m in the quarter under review. For the first half year of 2014, revenue increa...

20 August 2014

SCG Philippine operations post higher sales

Siam Cement's operations in the Philippines posted stronger sales of cement, building materials and tiles in the first half of 2014, the Thai conglomerate said in a statement. The group reported a nine per cent YoY...

19 August 2014

Vietnam government investment arm to divest in Yen Bai shareholding

The Vietnamese government’s investment arm, State Capital Investment Corporation (SCIC), plans to sell its entire 1.9 million shares of Yen Bai Cement and Minerals JSC (YBC) between 21 August and 19 September. SCIC c...

19 August 2014

TCC confident on fourth-quarter revenue boost

Taiwan Cement Corp (TCC) said it expects revenue to rise by 13 per cent in the second half of this year from TWD58.59bn (US$1.96bn) in the first half due to an anticipated rise in sales in the fourth quarter. The c...

19 August 2014

Morgan Stanley raises Buzzi Unicem rating

Morgan Stanley has raised its rating on Italy's Buzzi Unicem to "overweight" from "equal weight", on a strong upside potential for the cement maker's stock which has underperformed the market since February amid unce...

18 August 2014

West China Cement first-half revenue rises despite flat volumes

West China Cement reported higher revenue and gross profit margins for the six months to the end of June 2014, boosted by higher average selling prices (ASP) in its core markets in Southern Shaanxi province as overal...

18 August 2014

Nigeria: Dangote pretax profit dips

Nigeria's Dangote Cement said on Friday its half-year pretax profit fell to NGN107.06bn (US$659.4m), down 0.57 per cent from NGN107.68bn a year ago. However, turnover rose to 208.91bn during the six months period to...

18 August 2014

Improved pricing and exports boost CCCL first half

Caribbean Cement Company Ltd (CCCL), the Jamaican subsidiary of Trinidad Cement Limited (TCL), achieved a 28 per cent increase in revenue for the first half of the year due to improved pricing and increased exports. ...

18 August 2014

Ash Grove Cement Co promotes Vance to president and COO

Ash Grove Cement Company’s board of directors announced the promotion of J Randall Vance to president and chief operating officer, effective immediately. Vance, who served three years as senior vice president of adm...

15 August 2014

Argos considers acquiring Holcim and Lafarge Latin America divestments

Colombia's Cementos Argos is currently looking into acquiring the assets Lafarge and Holcim are planning to sell in Latin America, particularly Mexico and Brazil. However, it has not yet finalised any negotiations. ...

15 August 2014

Wonder Cement places new order with Gebr Pfeiffer, India

India-based producer Wonder Cement has placed an order with Gebr Pfeiffer for raw meal and coal mills as part of plans to expand its Tehsil Nimbahera cement works. The mills will supply the new 8500tpd kiln line at t...

15 August 2014

Orient in strategic talks to acquire 2Mta plant

Orient Cement is in talks with three companies to acquire a cement plant as part of plans to triple capacity by 2020, a senior company executive has said. Deepak Ketrapal, managing director of Orient Cement, told l...

14 August 2014

FLSmidth maintains 2014 guidance

FLSmidth has reviewed and approved the company’s interim report for the six months to 30 June 2014, maintaining its 2014 guidance and noting a significant improvement in margins. However, its order intake declined de...

14 August 2014

Sagar in talks to buy BMM Cements, India

Sagar Cement is in talks to buy BMM Cements as it plans to use the proceeds from the sale of its stake in the Vicat Sagar joint venture to fund growth organically and through M&A activity. BMM Cements operates a 1M...

14 August 2014

CRH to sell Turkish joint venture

CRH and its Turkish partner, Eren Holding AS, have hired JPMorgan Chase & Co to help sell their cement joint venture in Turkey, according to reports in the Irish Times. Sources familiar with the matter say that thre...

14 August 2014

Badami takes up role of ACC chief executive officer and MD

Harish Badami yesterday assumed the role of CEO and managing director of India’s second-largest cement producer, ACC. "Harish Badami has taken over as CEO & MD from August 13 2014 and Kuldip Kaura has demitted offic...