Corporate

22 August 2014

Taiwan Cement hikes prices 3.2%

Taiwan Cement announced a rise of cement prices in Guangdong and Guangxi, China, by CNY10 (US$1.63)/t or 3.2 per cent to CNY320/t. The company said that as the China market has entered peak season, cement stocks in the Pearl River Delta have been falling, enabling price rises to go ...

22 August 2014

TCL shareholders axe old board

Six directors have resigned from the board of Trinidad Cement Ltd (TCL) in a meeting held in Port-of-Spain on Tuesday following a dramatic compulsory meeting of shareholders fed up with the dire financial performance...

21 August 2014

FLSmidth wins DR Congo plant project

FLSmidth has won a contract worth EUR68m from Nyumba Ya Akiba SARL to supply a complete package of equipment and engineering for a greenfield cement plant in the Democratic Republic of Congo. The plant will be locate...

21 August 2014

Fauji Cement full-year net profit rises 27% YoY

Pakistan-based producer Fauji Cement reported a net profit of PKR2.39bn (US$23.7m) for the fiscal ending 30 June 2014, up 27 per cent YoY compared to PKR1.88bn in the year before. An increase in cement prices and ...

21 August 2014

Moody's: WCC results in line with expectations

Moody's Investors Service says that West China Cement Ltd's (WCC) first-half results are in line with Moody's expectations. As a result, WCC's B1 corporate family and senior unsecured ratings remain unchanged. "WCC...

21 August 2014

Chile's Cementos Bío Bío restructures Corpbanca and BCI loan

Chilean cement producer Cementos Bío Bío has reached a finance agreement with Corpbanca and BCI to restructure a loan taken out in August 2012. The CLP120bn (US$206m) loan has a maturity of seven years and a two-y...

21 August 2014

Holcim plans service centre in Slovakia

Holcim is considering the creation of a European service centre in Kosice, Slovakia. The "Shared Service Center" will deliver services to 16 countries, excluding the UK, according to Holcim spokesperson Eike Christia...

22 August 2014

TCL second-quarter revenue up 9%

Trinidad Cement Ltd (TCL) saw second-quarter revenue rise by nine per cent to TTD560m (US$88.3m) as demand remained strong in key markets. EBITDA and non-recurring charges climbed 16 per cent YoY to TTD132.2m in the ...

20 August 2014

SCG Philippine operations post higher sales

Siam Cement's operations in the Philippines posted stronger sales of cement, building materials and tiles in the first half of 2014, the Thai conglomerate said in a statement. The group reported a nine per cent YoY...

19 August 2014

Vietnam government investment arm to divest in Yen Bai shareholding

The Vietnamese government’s investment arm, State Capital Investment Corporation (SCIC), plans to sell its entire 1.9 million shares of Yen Bai Cement and Minerals JSC (YBC) between 21 August and 19 September. SCIC c...

19 August 2014

TCC confident on fourth-quarter revenue boost

Taiwan Cement Corp (TCC) said it expects revenue to rise by 13 per cent in the second half of this year from TWD58.59bn (US$1.96bn) in the first half due to an anticipated rise in sales in the fourth quarter. The c...

21 August 2014

Morgan Stanley raises Buzzi Unicem rating

Morgan Stanley has raised its rating on Italy's Buzzi Unicem to "overweight" from "equal weight", on a strong upside potential for the cement maker's stock which has underperformed the market since February amid unce...

18 August 2014

West China Cement first-half revenue rises despite flat volumes

West China Cement reported higher revenue and gross profit margins for the six months to the end of June 2014, boosted by higher average selling prices (ASP) in its core markets in Southern Shaanxi province as overal...

21 August 2014

Nigeria: Dangote pretax profit dips

Nigeria's Dangote Cement said on Friday its half-year pretax profit fell to NGN107.06bn (US$659.4m), down 0.57 per cent from NGN107.68bn a year ago. However, turnover rose to 208.91bn during the six months period to...

18 August 2014

Improved pricing and exports boost CCCL first half

Caribbean Cement Company Ltd (CCCL), the Jamaican subsidiary of Trinidad Cement Limited (TCL), achieved a 28 per cent increase in revenue for the first half of the year due to improved pricing and increased exports. ...

22 August 2014

Ash Grove announces new president and COO

Ash Grove Cement Company’s board of directors announced the promotion of J Randall Vance to president and chief operating officer, effective immediately. Vance, who served three years as senior vice president of adm...