Corporate

30 June 2016

Cemex IPO values Philippines subsidiary at US$536m

Cemex has today announced that it will price shares in its subsidiary, Cemex Holding Philippines, at PHP10.75 (US$0.23), valuing the operation at around US$536m. Reuters News quotes Eduardo Francisco, president of underwriter BDO Capital & Investment Corp as stating: “That's good so...

30 June 2016

HeidelbergCement Georgia reports record sales

For the year 2015 HeidelbergCement Georgia experienced record sales, with 1.63Mt of cement and clinker sold. These sales figures were up 19 per cent on the previous year’s result. With this growth in sales the com...

30 June 2016

Sagar Cements acquires grinding unit from Toshali Cements

Sagar Cements announced the acquisition of a grinding unit owned by M/s Toshali Cements Pvt Ltd for INR600m (USD8.88m). The assets consist of one grinding unit located at Bayyavaram, Vizag district, Andhra Pradesh ...

30 June 2016

China: BBMG sells stakes to Jidong Cement

Chinese building materials supplier, BBMG Corp has plans to sell its stakes in 31 cement-related companies to Jidong Cement. The stakes on offer are valued at CNY15.5bn (US$2.3bn). Tangshan Jidong Cement Co Ltd wi...

30 June 2016

Pakistan: DG Khan Cement about to power up

The 30MW coal-fired captive power plant of DG Khan Cement Co (DGKCC) at its Dera Ghazi Khan is scheduled to start up in the next week, according to market sources. The power plant was supplied by China-based Sino...

30 June 2016

Russia: Verkhnebakanskiy Cement BoD appointments

The Board of Directors of Verkhnebakanskiy Cement Works held a meeting on 27 June 2016 to appoint new member to the board. Lev Kvetnoy has been appointed as Chairperson and Igor Veremiy as Secretary of the Board of D...

29 June 2016

West China Cement shares drop by one third in single day’s trading

Hong Kong-listed West China Cement (WCC) has seen its shares fall by 32.7 per cent in a single day, wiping US$350m off the value of the company, Bloomberg reports. At one point, the company’s shares were trading 4...

29 June 2016

Indonesia: new plant for PT Semen Indonesia

PT Semen Indonesia has plans to invest between IDR4trn (US$303m) and IDR5trn (US$380m)in a new plant in Aceh, according to Corporate Secretary, Agung Wiharto. The company established a new entity on 22 April in coope...

29 June 2016

New Zealand: Cape Foulwind closure

Holcim has ceased operations at its Cape Foulwind cement plant in New Zealand following a three-year closure process. The company chose to start importing cement rather than manufacturing locally. National Directo...

28 June 2016

Georgia: construction on 1.5Mta Senaki works started

Construction on a 1.5Mta cement plant in Senaki, Shmegrelo region in western Georgia, has started. The project is an investment of US$120m by Black Sea Cement LLC, a partnership between Georgian businessman Cezar Cho...

28 June 2016

South Africa: PPC lines up banks for rights issue

South African’s largest producer, PPC, has announced that it has come to an agreement with four banks to underwrite its proposed ZAR4bn (US$260m) rights issue, Reuters Africa reports. The Standard Bank of South Af...

28 June 2016

Cemex stock falls over Brexit fears

Cemex saw a further day of losses at the Mexican Stock Exchange (BMV). Since Friday, its shares have fallen 14.74 per cent following the announcement of the UK’s departure from the EU. On Monday, shares fell 5.6 per ...

28 June 2016

CRH reported to carry out due diligence on HeidelbergCement's US assets

Ireland-based building materials giant CRH is reportedly among bidders for the US assets put up for sale by HeidelbergCement to appease competition authorities over its Italcementi acquisition. CRH and US company S...

28 June 2016

Cemex celebrates Panama Canal expansion inauguration

As the Panama Canal expansion was successfully inaugurated on Sunday, Cemex celebrated along with other suppliers and local dignitaries. The company supplied close to 1Mt of specially-developed cement for the projec...

27 June 2016

South Korea: Sungshin shares down

South Korean company Sungshin Cement has been ranked in the bottom quartile of BSS News Bites South Korean performers for the past year. The company’s performance saw it placed 1519/1756 in the ranking, a percentile ...

27 June 2016

Egypt: Suez Cement ranked bottom

Egyptian company Suez Cement has ranked in the bottom quartile of the country’s performers for the year just passed. The company’s performance saw it ranked 144/144 in the BSS News Bites ranking for Egypt, a percenti...