Corporate

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 local market. The projection was made by Truong Quoc Huy, director of HOM ...

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...

09 October 2014

Venezuela: final compensation installment delayed

Holcim is yet to receive the last compensation installment in connection with the nationalisation of Holcim Venezuela in 2008, the company said in a statement today. Corporación Socialista Del Cemento, SA, which is ...

06 October 2014

S&P's downgrades Trinidad Cement Ltd

Standard & Poor's Ratings Services lowered its corporate credit rating on Trinidad Cement Ltd Group (TCL) to 'D' from 'B'.   The downgrade reflects TCL's missed debt service payments due 30 September 2014. Such matu...

09 October 2014

Ciments du Maroc posts positive 1H14 results

Ciments du Maroc saw turnover increase to MAD1.63bn (US$185m) in 1H14, up 16.4 per cent from MAD1.4bn the same period the previous year. However, the company also experienced a 22 per cent rise in costs from MAD97...

03 October 2014

Turkey: CRH and Eren Holdings plan sale of JV

CRH and its Turkish partner Eren Holdings have applied to Turkey's competition regulator to sell their joint venture, Denizli Cimento, to army pension fund OYAK Group, according to a statement on the watchdog's websi...

03 October 2014

Egypt: National Cement swings to full-year loss

National Cement Co swung to a net loss of EGP138.4m (US$19.35m) in the fiscal year ended 30 June 2014 from a net profit of EGP93.5m for the year-earlier period. The pretax loss for the reported 12 months amounted t...

03 October 2014

TCL places hold on all debt payments

Following a financial assessment of Trinidad Cement Ltd (TCL) by PricewaterhouseCoopers (PwC), the Caribbean-based cement producer has decided to place a hold on all payments due under the existing restructured loan ...

02 October 2014

Alain Bourguignon, Marc Soule join Holcim's asset sale committee

Holcim, which is set to merge with French peer Lafarge in 2015, has named Alain Bourguignon and Marc Soule members of the asset sale committee. Bourguignon was so far in charge of Canada, UK and USA, while Soule wa...

02 October 2014

Cemex enters new US$1.35bn credit agreement

Cemex SAB de CV announced it entered a new credit agreement for US$1.35bn with nine of the main lending banks from its Facilities Agreement of 17 September 2012. The new agreement’s main terms include an average fo...

01 October 2014

Reliance Infrastructure plans to triple capacity to 15Mta by 2017

India’s Reliance Infrastructure plans to nearly triple its cement capacity to 15Mta over the next three years. The current capacity at the company, led by Anil Ambani, is 5.8Mta as the cement producers operates plant...

02 October 2014

Zuari Cement hosts groundbreaking for Gulbarga plant

Through its Gulbarga Cement Ltd (GCL) subsidiary, Zuari Cement plans to build a 3.23Mta cement works in Gulbarga, Karnataka, India. In addition, the company will be setting up a 50MW captive power plant. The founda...