Corporate

26 June 2015

Qalaa Holdings to focus on core subsidiaries, including cement

Qalaa Holdings has signed a set of agreements with Financial Holdings International (FHI), one of Qalaa’s major co-investors, through which Qalaa will acquire from FHI additional stakes in subsidiaries that are core to Qalaa’s future as a holding company. These include stakes in co...

25 June 2015

Medcem to invest in 3Mta works in north Colombia

Turkish cement producer Medcem plans to built a 3Mta works in the north of Colombia, according to local press reports. The US$50m plant will be constructed in the Free Economic Zone of Puerto Brisa, near Dibulla in G...

25 June 2015

Fitch revises West China Cement's Outlook to Stable, affirms 'BB-' Ratings

Fitch Ratings has revised West China Cement Limited's (WCC) Outlook from Negative to Stable. Its Long-Term Issuer Default Rating (IDR), senior unsecured and bonds ratings have been affirmed at BB-. The change in Outl...

25 June 2015

Limak Holdings eyes Turkish entry

Turkish conglomerate Limak Holding says it will invest US$150m in a 2Mta cement factory in Mozambique. Limak chairperson, Nihat Ozdemir, said his firm would create least 500 jobs during the first phase of the facto...

25 June 2015

American Starlinger-Sahm Inc moves into new HQ

American Starlinger-Sahm Inc has completed the move into its new North American headquarters. Located in Fountain Inn, South Carolina, the facility consists of a machine exhibition area, spare parts warehouse, and of...

25 June 2015

New managing director at Unicon A/S

Søren Holm Christensen, finance director in the Nordic and Baltic region of Cementir Holding, has been appointed managing director for its subsidiary, Unicon A/S in Denmark, as of 1 September 2015. Søren Holm Christ...

24 June 2015

Cementos Portland in EUR200m capital increase

The shareholders of Spain's Cementos Portland have approved a EUR200m increase in the Spanish cement producer’s capital to strengthen its balance and reduce its debt. Cements Portland will issue new shares at EUR6....

26 June 2015

TCL Group plans delisting

In the midst of a major debt restructuring exercise, Trinidad Cement Ltd (TCL) has announced that it could delist from the Barbados Stock Exchange (BSE), the Eastern Caribbean Securities Exchange (ECSE) and the Guyan...

24 June 2015

Buzzi hosts Missouri delegation at company HQ

At the end of March, Buzzi Unicem hosted a delegation of public officials and entrepreneurs from Missouri, led by state governor Jay Nixon. The governor was accompanied by Mike Downing, director of the Economic Deve...

24 June 2015

Fitch withdraws Societe des Ciments d'Enfidha ratings, Tunisia

Fitch Ratings has affirmed Tunisian building materials group Societe des Ciments d'Enfidha (SCE) National Long-term rating of 'BBB(tun)' with Stable Outlook and National Short-term rating of 'F3(tun)'. However, Fitch...

24 June 2015

Pakistan: Dewan Cement restructuring debt

Dewan Cement Ltd (DCL) has taken steps to ease debt burden and improve production efficiency. According to a local brokerage house, the company has taken the first step in converting its debt amounting PKR450m int...

26 June 2015

Moody's reviews West China Cement's B1 ratings

Moody's Investors Service has put West China Cement Limited (WCC) B1 corporate family and senior unsecured debt ratings under review for upgrade. On 19 June 2015, WCC announced that Conch International Holdings (HK)...

22 June 2015

HeidelbergCement reportedly in talks for Jaiprakash unit

HeidelbergCement is reportedly in talks to buy Jaiprakash’s Sikandarabad unit in Uttar Pradesh, according to local media. “Heidelberg is in advanced stages of negotiations with JP Associates to buy the 1Mta Sikandar...

19 June 2015

West China Cement issues Conch International HK$1.53bn worth of shares

West China Cement said Friday that it will issue HKD1.53bn (US$197.4m) worth of shares to to Conch International Holding, a wholly owned subsidiary of Anhui Conch Cement Company Ltd. The Hong Kong-listed company s...

18 June 2015

Lafarge to buy out Baring stake in Indian unit

As part of the implementation in India of its planned merger with Holcim - and subject to its completion - Lafarge has signed an agreement to acquire the 14 per cent stake held by Baring in Lafarge India, for a consi...

18 June 2015

Ashaka impacted by insurgency, lengthy rainy season

Nigeria-based Ashaka Cement Plc’s first-quarter profit fell by 53.54 per cent to NGN889.01m (US$4.5m) in the first three months of this year as insurgency disrupted operations and a lengthy rainy season weakened dema...