Corporate

11 July 2014

Yamama Cement sees June deliveries decline

Yamama Cement's June domestic deliveries reached 484,000t, a 5.5 per cent decline MoM and a 17.7 per cent YoY fall, according to NBK Capital. However, this figure was in line with NBK Capital's 1.5Mt estimate of the 2Q14 sales volume. Yamama Cement’s primary area of activity in Riyadh ...

11 July 2014

Kazakhstan: Steppe Cement improves 1H14 sales

Kazakh cement producer Steppe Cement Ltd reported cement sales of 709,459t for KZT9125m (US$49.7m) in 1H14 which compares with 564,440t of cement for KZT8165m in the 1H13. This represents a YoY increase of 26 per cen...

14 July 2014

Mexico: Cementos Fortaleza inaugurates new plant

Cementos Fortaleza’s new 1Mta greenfield plant in Santiago de Anaya, Hidalgo, Mexico, has been inaugurated. The official launch took place in the presence of Elementia president, Francisco Del Valle Perochena, alon...

09 July 2014

Italcementi raises EUR500m capital

Italian cement maker Italcementi fully completed a capital increase worth EUR500m on Monday. Investors subscribed to 103.6m new shares within an issue approved by the board of directors on 6 March. During the offer ...

09 July 2014

Holcim and Lafarge announce proposed asset disposals

Two months after the announcement of their planned merger, Lafarge and Holcim have revealed the list of proposed divestments. In Europe the merged entity aims to have “a significant and balanced industrial base in...

07 July 2014

Philippines: Lafarge and Holcim start talks

Lafarge Republic Inc (LRI) and Holcim Philippines Inc have begun plans for a local merger. Both Boards of Directors gave the green light "to explore, study and consider the combination" of their businesses "in order ...

04 July 2014

Italcementi reaches threshold for squeeze-out of Ciments Français

Italcementi said on Thursday it had bought more than 95 percent of share capital of Ciments Français, reaching the threshold for the squeeze-out of minorities at its French unit. Italcementi’s buyout bid for Ciment...

04 July 2014

Credit Suisse sells holdings in Anhui Conch Cement

Credit Suisse Group AG sold 805,174 shares in Anhui Conch Cement Co Ltd worth HK$ 21.95m (US$2.8m) on 23 June 2014, sources reported, citing information from the Hong Kong Stock Exchange. After the sale, the Switzer...

03 July 2014

Martin Marietta completes TXI acquisition

Martin Marietta Inc said it has completed its acquisition of Texas Industries Inc (TXI). As a result, the common stock of TXI is no longer listed for trading on the New York Stock Exchange. In a statement, Ward N...

03 July 2014

Anhui Conch issues positive profit alert, China

Yesterday, Anhui Conch said it expects first-half net profit up about 90 per cent YoY compared to CNY3.06bn (US$492.75m) a year earlier. The advance is being attributed to increased product sales and prices. Dow J...

03 July 2014

Dirk Hoke appointed CEO of Siemens Large Drives Business Unit

On July 1, 2014, Dirk Hoke took over as CEO of the Large Drives Business Unit of the Siemens Drive Technologies Division. The 45-year-old graduate engineer joined Siemens in 1996 and started his career at Transpor...

02 July 2014

HeidelbergCement looking to shed assets

HeidelbergCement is reportedly looking to sell off its US and British construction materials business this year in a bid to position itself for some assets that may be put on the block as part of the Lafarge Holcim m...

30 June 2014

GCR affirms ARM Cement's ratings, outlook Stable

Global Credit Ratings (GCR) has today affirmed the national scale ratings assigned to ARM Cement Ltd of A(KE) and A1(KE) in the long term and short term respectively. The outlook is Stable. GCR said the Kenyan ceme...

30 June 2014

Martin Marietta and TXI confirm agreement with US Department of Justice

Martin Marietta has reached an agreement with the US Department of Justice (DOJ), approved by the district court for the District of Columbia, that resolves all competition issues with respect to Martin Marietta's pr...

26 June 2014

Lafarge Pakistan to go under hammer

Three leading Pakistan cement producers are gearing up to acquire a majority holding in Lafarge Pakistan, with the bidding process expected to be concluded in the coming weeks. Bestway Cement, DG Khan and Kohat Cem...

26 June 2014

Bamburi Cement names new CEO

Bamburi Cement, part of the Lafarge group, has announced the appointment of Bruno Pescheux as chief executive officer and a member of the Board of Directors, effective 21 July 2014. Mr Pescheux previously held the...