Corporate

15 September 2014

PPC says slower domestic economic growth hurting volumes

South Africa's largest cement producer, PPC, has said slower domestic economic growth and declining infrastructure spending has resulted in a "particularly tough" domestic market. “Low single-digit” volume declines across Africa’s second-biggest economy were partly offset by higher s...

15 September 2014

CIMB upgrades Semen Indonesia

Analysts at CIMB has upgraded Semen Indonesia to an add rating and lifted its target price from IDR17400 (US$1.46) to IDR18300 following a substantial government-mandated increase to dividend payouts of cash-generati...

12 September 2014

Sagar reportedly looking to acquire BMM Ispat cement assets

Sagar Cements is reportedly planning to acquire the cement business of Bangalore-based BMM Ispat Group. Local press report anticipate that the deal is likely to be sealed in a couple of weeks. BMM has a 1Mta cement...

12 September 2014

Ash Resources’ new Commercial Manager, South Africa

Ash Resources, South Africa’s leading manufacturer and supplier of fly ash products, has appointed Nicola Viljoen as its new Commercial Manager with effect from 1 September 2014. In her previous role as Senior Purc...

12 September 2014

Grupo Argos raises US$509m in bond sale

Grupo Argos, the parent company of Colombia's leading cement producer Cementos Argos, has raised COP1trn (US$509.4m) in a bond sale on Wednesday that was more than doubly oversubscribed, the company said in a filing ...

11 September 2014

Ashaka Cement stake changes hands

Lafarge Group has sold 58.61 per cent of its stakes in Ashaka Cement Plc to Lafarge Africa Plc in a deal valued at NGN41bn (US$252m). Lafarge sold 1.3bn ordinary shares of its Ashaka Cement at NGN30.95 each. The sa...

11 September 2014

EC clears Holcim and Cemex Spanish deal

The European Commission (EC) has cleared, under the EU Merger Regulation, the proposed acquisition of Holcim’s Spanish operations by Cemex, the last of three transactions under scrutiny in the European tie-up between...

10 September 2014

Court of Appeal postpones Ahangarancement case in Uzbekistan

The Board of Appeals of the Tashkent Regional Economic Court adjourned the case on the claim of the Russian Eurocement Group holding due to the decision to invalidate the privatisation of Ahangarancement JSC. "The ...

11 September 2014

Dubai to acquire interest in Dangote Cement

Investment Corporation of Dubai (ICD), the main investment arm of the Emirate of Dubai, has agreed to purchase a minority interest in Nigeria's largest cement manufacturer, Dangote Cement plc, from majority shar...

12 September 2014

Taiheiyo dissolves Xinjiang joint venture

Taiheiyo Cement has ended a Chinese joint venture with a Xinjiang-based company in response to government efforts to cut excess capacity in the cement sector. Following calls by Beijing to curb investment in the ce...

11 September 2014

Unacem plans to invest US$58m in 2015

Peru's Unacem intends to invest US$58m in its Atocongo and Condorcocho works next year. The projects focus on the development of the Carpapata III hydropower plant, the cement mill and packing area (Condorcocha) as w...

08 September 2014

Indebted CPV outlines debt refinancing plan, Spain

Cementos Portland Valderrivas (CPV), the leading cement producer in Spain with operations in North America and Tunisia, has released a statement outlining its plans to refinance a total of EUR969m debt, according to ...

08 September 2014

Fitch Assigns 'BB -' Ratings to CEMEX's Notes

Fitch Ratings has assigned expected ratings of 'BB-/RR3(EXP)' to Cemex's proposed USD notes due in 2025 and its proposed Euro notes due in 2022. Proceeds from the Euro notes issuance will be used for general corporat...

11 September 2014

Aumund India to equip Wonder Cement's Line 2

A major contract was signed recently by Aumund India to furnish all necessary machines for a second production line at Wonder Cement's plant at Nimbahera, Rajasthan. The contract worth EUR5m includes 32 items of equi...

08 September 2014

CCNN first-half net income boosted by cost cuts, Nigeria

The Cement Company of Northern Nigeria (CCNN) achieved a 91 per cent increase in profit for the first six months of the year helped by a reduction in operating and financing costs. For the first six months to the ...

08 September 2014

Sagar Cement completes sale of joint-venture stake

Sagar Cements has completed the sale of its stake in Vicat Sagar Cement, therefore formalising its exit from the joint-venture company. In mid-July an agreement had been reached whereby Sagar Cements  would sell it...