Corporate

24 April 2015

Standard & Poor’s revises Italcementi rating

Standard & Poor’s announced Friday that it has revised the corporate rating of Italcementi SpA, and as a consequence the rating of Italcementi Finance SA’s outstanding unsecured bonds, from BB+ with negative outlook to BB with stable outlook. The rating of Ciments Français SAS’ remaini...

23 April 2015

Siam Cement earnings' preview: robust quarter expected

Thai conglomerate SCC is expected to report a strong net profit of THB10.2bn (US$315m) in the first quarter of 2015, up 21 per cent YoY and 15 per cent QoQ, according to estimations by SCB Securities. “We continu...

24 April 2015

Fitch downgrades Shanshui to 'BB-'; on Negative Watch

Fitch Ratings has downgraded China Shanshui Cement Group Ltd's Long-Term Issuer Default Rating (IDR) and senior unsecured rating to 'BB-' from 'BB'. The ratings have also been placed on Rating Watch Negative. The do...

17 April 2015

Holcim says Eurocement proposal 'too late' for consideration at meeting

Holcim said a proposal by a major shareholder to have a seat on the LafargeHolcim board had come too late to be included in the agenda of a shareholder meeting next month. Lafarge and Holcim announced the names of t...

17 April 2015

Holcim and Lafarge propose final US asset disposals

Lafarge and Holcim announce further details on the package of assets they propose to divest in the United States, as part of their planned merger to create LafargeHolcim. The divestments include: • Lafarge's 1....

17 April 2015

Saudi Cement net profit up 6%

Saudi Cement has reported a 5.9 per cent increase in first-quarter net profit on Tuesday as higher exports boosted its earnings. Saudi Arabia's largest cement company by market value said in a bourse filing its net ...

17 April 2015

Eurocement seeks Galchev Board seat at LafargeHolcim

Eurocement Holding AG, the second-biggest shareholder in Holcim Ltd, said Wednesday it is nominating its owner, Filaret Galchev, for a position on the Board of the company that would be created by the planned tie-u...

17 April 2015

Spain: Cementos Portland reports EUR29.5m loss

FCC-owned Cementos Portland closed the first quarter of 2015 with a EUR29.5m loss, representing a 21.2 per cent higher figure when compared with 1Q14. The cement company attributes the fall to lower CO2 sales and n...

16 April 2015

Hoang Phat Vissai Group acquires control of Song Lam 2 Cement

Hoang Phat Vissai Group has acquired Song Lam 2 Cement JSC in Vietnam's central province of Nghe An from state-owned PetroVietnamCement 12/9 JSC. The group will invest VND500bn to complete and speed up construction...

16 April 2015

Oman Cement 1Q net profit up 3.7%

Oman Cement reported a 3.7 per cent rise in first-quarter net profit on Wednesday, beating analyst forecasts. The company made a net profit of OMR3.83m (US$9.95m) in three months to 31 March, up from OMR3.70m in the...

16 April 2015

Ha Tien 1 Cement targets US$17.07m pretax profit

Ha Tien 1 Cement JSC (HT1), the largest cement maker in Vietnam by market capitalisation, targets a pretax profit of VND367bn (US$17.07m) this year, down 7.32 per cent YoY. Its revenue is expected to rise 5.9 per cen...

17 April 2015

ACC quarterly volumes lower on weaker demand

ACC reported a decline in sales volumes for the January-March 2015 period due to weaker cement demand from the infrastructure and the general construction sectors, India’s second-largest cement producer said in a sta...

15 April 2015

Fitch affirms Holcim at 'BBB'; Outlook Stable

Fitch Ratings has affirmed Holcim Ltd's (Holcim) Long-term and Short-term Issuer Default Ratings (IDR) at 'BBB' and 'F2', respectively. The Outlook is Stable. "The affirmation reflects Holcim's leading market posi...

14 April 2015

Future Board of Directors of LafargeHolcim nominated

Holcim and Lafarge have nominated their candidates for the future Board of Directors of the combined merged company, subject to closing of the transaction. The designated Board of Directors will consist of 14 me...

14 April 2015

Bamburi upbeat on outlook

Kenya-based Bamburi Cement’s operating growth increased by 5.8 per cent last year to KES5.5bn (US$60m) and is upbeat on the outlook for both local and export sales. “We are very optimistic about market growth prosp...

16 April 2015

Brazil: CSN considering merger with cement unit

Brazilian steelmaker CSN is considering a merger with its subsidiary CSN Cimentos, Business News Americas reported. CSN, in a regulatory filing, said it would present the proposal to shareholders for approval. The ...