Corporate

22 July 2014

RAK Cement swings to first-half net profit, UAE

Preliminary first-half results for Ras Al Khaimah Cement (RAK Cement) show that the UAE-based producer achieved a net profit of AED3.2m (US$871,198) compared to a loss of AED1.6m in the equivalent period of last year. In a statement to the Abu Dhabi Securities Exchange revealed that ...

22 July 2014

Oman: OCC profit rises despite drop in sales

Oman Cement Co (OCC) posted a 4.3 per cent rise in net profit before tax for the first six months of this year, despite a drop in sales. The sultanate’s second-largest cement producer by capacity reported a pretax p...

22 July 2014

China Tianrui Group expects 15% rise in 1H14 net profit

China Tianrui Group Cement said it expects to record an increase of about 15 per cent in consolidated net profit for the six months to the end of June 2014 compared to the same period of 2013. The growth was mainly ...

21 July 2014

Cemex EBITDA margin under pressure

Cemex' first-half turnover improved by 5.7 per cent to US$7736.5m and the EBITDA edged ahead by 1.5 per cent to US$1269.7m, while the trading profit improved by 4.5 per cent to US$721.5m. Net interest payments r...

21 July 2014

UltraTech full-year hit by operational costs

UltraTech Cement, an Aditya Birla Group company, today announced its financial results for the year ended 31 March 2014. Full-year net sales stood at INR58.32bn compared to INR53.91bn in the corresponding period of...

21 July 2014

Lafarge Holcim antitrust reviews ‘on-track’

Holcim and Lafarge are in "advanced" discussions with European antitrust regulators over their proposed merger, Bernard Fontana, chief executive of Holcim, told the Wall Street Journal. Earlier this month, the compa...

21 July 2014

Arabian Cement second-quarter exceeds analysts’ forecasts

Saudi-based Arabian Cement reported a 60.2 per cent rise in second-quarter net profit to SAR199.8m (US$53.3m), beating analysts' forecasts. Al-Rajhi Capital noted that while most cement companies reported weak sale...

18 July 2014

Colombia boosts Cemex Latin American Holdings

First-half turnover at Cemex Latin American Holdings improved by 6.1 per cent to US$864m while EBITDA declined by 7.5 per cent to US$283.1m. At the trading level there was a 9.5 per cent reduction to US$235.6m. Af...

18 July 2014

ARM Cement first-half pretax profit 20% higher YoY

ARM Cement's pretax profit rose 20 per cent to KES1.2bn (US$13.68m) in the first half of 2014, the Kenyan firm said on Friday. Total revenue increased by 16 per cent YoY to KES7.6bn with cement sales up by 10 per c...

17 July 2014

Turkey: Cimsa acquires local cement producer

Sabanci group company Cimsa has acquired fellow Turkish producer Sancim Bilecik Cimento in a deal reportedly worth US$220.7m. The company signed the contract allowing it to purchase 100 per cent of Sançim Bilecik’s ...

18 July 2014

Vicat to take full control of Indian joint venture

Vicat is to take 100 per cent control of Vicat Sagar Cements after agreeing to buy out Sagar Cements from the joint venture company. An agreement has been reached whereby Sagar Cements will sell its entire 47 per c...

16 July 2014

Saudi: Qassim’s 2Q14 net profit slips, sales down 10%

Qassim Cement posted a 1.5 per cent decline in net profit for the second quarter of 2014 to SAR161.1m (US$43m). Sales volumes dropped 10 per cent YoY during the three months to the end of June to 1.07Mt on the back...

17 July 2014

Cementos Portland renegotiates debt agreement

Spain's Cementos Portland has renegotiated its EUR1.114bn debt with its bank, according to the FCC subsidiary. It is the company's second refinancing in two years after the last agreement in July 2012. In the late...

17 July 2014

Elementia in talks for Lafarge JV stake, Mexico

Elementia SA, the Mexican cement maker backed by Carlos Slim and Antonio del Valle, is in talks to buy out partner Lafarge SA in their Mexican joint venture, Bloomberg reported Monday citing people with knowledge of ...

18 July 2014

European Commission objects to Spanish deal

The European Commission, the antitrust regulator in Europe. has objected to plans by Cemex to acquire Spanish units held by Holcim. In August last year the two cement majors reached an agreement to conduct a ser...

11 July 2014

Lafarge expansion to upset Dangote Cement plans?

Lafarge Wapco’s shareholders have approved the merger between the Nigerian unit of French cement maker Lafarge, Lafarge Wapco, and its wholly-owned South African subsidiary. The consolidation of the South African uni...