Corporate

19 January 2015

Fitch affirms Pacasmayo's ratings; outlook stable

Fitch Ratings has affirmed the following ratings for Cementos Pacasmayo SAA): • Foreign currency Issuer Default Rating (IDR) at 'BBB-'; • Local currency IDR at 'BBB-'; • Senior unsecured US$300m notes due 2023 at 'BBB-'. The Rating Outlook is Stable. Key rating's drivers Soli...

15 January 2015

Blackstone, CVC reportedly among bidders for Lafarge and Holcim assets

Groups led by Blackstone Group LP and CVC Capital Partners Ltd have submitted bids for assets put up for sale by Lafarge and Holcim, according to reports by Bloomberg citing people familiar with the matter. Blacksto...

15 January 2015

Cameroon: first raw materials arrive at Dangote’s Douala plant

Dangote Cement has received the first cargoes of raw materials for its new cement works at Douala, Cameroon. The delivery consists of clinker, gypsum and pozzolan, produced in the 27ha quarry in Tombel, in the south-...

15 January 2015

Johnston named PCA Government Affairs Vice President

Portland Cement Association named A Todd Johnston as vice president for government affairs, effective 19 January 2015. Based in the association's Washington office, he will represent PCA and its members with the fede...

15 January 2015

Cementir Holding plans rights issue, Italy

Cementir Holding is to ask it shareholders to approve a rights issue of up to EUR300m, the Italian cement major has said. The board is calling an extraordinary shareholders’ meeting on 23 February 2015 to mandate th...

14 January 2015

BBMG Corp issues profit warning, China

Chinese cement producer and property developer BBMG Corp said its 2014 net profit is expected to fall by up to 25 per cent from the year earlier, on weaker sales in the property market. The company did not give exa...

15 January 2015

FLSmidth sells Cembrit Holding A/S

FLSmidth has signed an agreement with a company in the Solix Group AB to sell all shares in Cembrit Holding A/S, one of the leading distributors and manufacturers of fibre-cement products in Europe, for DKK1.1bn (EUR...

13 January 2015

UltraTech to not bid for Lafarge/Holcim assets

UltraTech has pulled out of the race to buy cement assets up for sale as Lafarge and Holcim’s proposed merger, the Indian cement major confirmed to local press.  An UltraTech spokesperson told ET Now that the comp...

12 January 2015

Yanbu Cement 4Q net earnings up 20.63%

Saudi producer Yanbu Cement Co posted SAR193m (US$51.4m) net earnings for the fourth quarter of 2014, rising 20.63 per cent from SAR160m in 4Q13 and 18.4 per cent from SAR163m in 3Q14. However, full-year net earnin...

15 January 2015

Thailand: TPI Polene bond issue

Thai-based cement producer TPI Polene says it will issue two tranches of THB6bn (US$182.5m) worth of debentures. Prachai Leophairatana, chief executive of TPI, said the first tranche would be a four-year debenture ...

09 January 2015

Conch places new order with Claudius Peters, Myanmar

Conch has awarded Claudius Peters an order for the supply of an ETA cooler to be installed in Myanmar. This new order takes the total number of Claudius Peters ETA coolers ordered by Conch to 22. The new order will ...

09 January 2015

Sançim Cimento acquired by Askale Çimento.

Turkish cement producer Sançim Cimento (Sançim) has been acquired by Askale Çimento, according to local news reports. The acquisition follows the recently aborted acquisition of Sancim by domestic cement major Cimsa,...

12 January 2015

CRH announces 2014 acquisition spend of EUR0.19bn

CRH announced a total 2014 acquisition and investment spend of EUR0.19bn, reflecting the completion of 21 transactions. On the divestment front, the group undertook 16 transactions and realised total disposal proceed...

12 January 2015

Hope celebrates second anniversary with major investment

Hope Construction Materials is investing GBP14m (EUR17.9m) to boost production at its Hope Works cement plant in the Derbyshire Peak District, UK.   The company, which yesterday celebrated its second year of cement p...

08 January 2015

Fitch Ratings revises China Shanshui Cement Outlook

Fitch Ratings has revised China Shanshui Cement Group Ltd's Outlook to Negative from Stable. Meanwhile, Shanshui's Long-Term Issuer Default Rating (IDR) and senior unsecured ratings have been affirmed at 'BB'. The ...

07 January 2015

Paraguay: INC plans to raise capacity

Paraguay’s Industria Nacional de Cemento (INC) plans to increase its production capacity from 50,000 to 70,000 bags/day in 2015, according to Jorge Méndez, head of the company. This is expected to create a good suppl...