Corporate

16 October 2014

Holcim and Lafarge to identify non-core assets in India for divestment

Holcim and Lafarge have begun an internal process in India to identify assets which have to be divested to adhere to the requirements of the country’s Competition Commission. Two sources familiar with the matter told The Economic Times of India that: “Both the companies are running ...

16 October 2014

Siam Cement 3Q earnings’ outlook

Siam Cement is expected to post a weak net profit for the third quarter of 2014, down 29 per cent YoY and 18 per cent QoQ, according to analysts at SCB Securities. The YoY drop reflects: no extra gain from the rev...

15 October 2014

UltraTech to bid for Lafarge Holcim assets?

UltraTech Cement is reportedly eyeing cement assets being put on the block by Holcim and Lafarge ahead of their planned merge Local press have speculated that the Aditya Birla group company is more interested in Hol...

15 October 2014

Oman Cement nine-month net profit declines

Oman Cement Co (OCC) made a net profit of OMR11.4m in the first nine months of 2014, down 8.1 per cent from OMR12.4m in the same period last year, the producer said in a bourse statement on Tuesday. In third quarter...

15 October 2014

Yanbu Cement 3Q profit up 16.4%, Saudi Arabia

Saudi-based Yanbu Cement net earnings grew by 16.43 per cent YoY in the third quarter of 2014 to SAR163m, but declined by 32.37 per cent compared to 2Q14. The company said the third quarter annual increase was was ...

16 October 2014

Raysut posts 8.9% increase in 9M13

Oman-based Raysut Cement said in a bourse filing that it made a net profit after tax of OMR20.9m (US$54.3m) in the first nine months of 2014, up 8.9 per cent from OMR19.2m in the year-ago period. The company poste...

14 October 2014

Barclays raises target price for CRC, maintains rating

Barclays Research raised its target price for China Resources Cement to HK$5.91 (US$0.76) from HK$5.79 and maintained its "equal weight" rating. Despite the strong cement price in southern China so far this year, t...

14 October 2014

UltraTech Cement appoints two additional independent directors

UltraTech Cement Ltd, India's largest cement producer, on Monday said it has appointed Renuka Ramnath and Sukanya Kripalu as additional independent directors on its board. The appointments are effective as of 11 Oct...

13 October 2014

Paraguay: INC to halt kiln as it replaces refractory

Paraguay’s Industria Nacional de Cemento (INC) will halt its kiln at Vallemí to complete the replacement of its refractory. However, the maintenance will not affect output, which will remain at 45,000-50,000 bags p...

13 October 2014

Deutsche Bank upgrades Adelaide Brighton, Australia

Deutsche Bank has upgraded Australian building materials supplier Adelaide Brighton to hold from sell, citing recent share price underperformance. However, Deutsche continues to have concerns around the potential for...

10 October 2014

Hoang Mai Cement expects revenue at US$80m this year

Hoang Mai Cement JSC (HOM), an affiliate of Vietnam Cement Industry Corporation (Vicem), forecast its net revenue at VND1.7trn (US$80m) and pretax profit at VND45bn, thank to a rebound in demand of cement in the loca...

10 October 2014

SA watchdog puts condition on merger approval

The Competition Commission of South Africa has consented to the merger of  Holcim and Lafarge SA on condition that Holcim divests of the shareholding in Afrisam within three years of the approved merger. The watchd...

10 October 2014

TCL downgraded by Fitch Ratings

Trinidad Cement Ltd (TCL) has been downgraded by Fitch Ratings, just days after Standard & Poor’s (S&P) also lowered its corporate credit rating on the Caribbean-based producer. Fitch’s primary analyst Phillip Wren...

09 October 2014

Cementos Argos board approves bond issue

The board of Cementos Argos has authorised a bond issue of up to COP1trn (US$493m), proceeds from which will be used for working capital and debt payments, the company said in a statement. Cementos Argos, Colombia’...

07 October 2014

Vulcan expands through acquisitions, USA

Vulcan Materials Company, the biggest construction aggregates producer in the US, completed six acquisitions during its third quarter to expand its aggregate operations. These consist of five aggregates facilities ...

07 October 2014

Senior appointments at Gujarat Sidhee Cement, India

VR Mohnot has been appointed as Chief Financial Officer & Company Secretary of Gujarat Sidhee Cement effective 1 October 2014. In addition,. Anupama Pai has been named Compliance Officer, the company said in a statem...