Corporate

15 August 2014

Orient in strategic talks to acquire 2Mta plant

Orient Cement is in talks with three companies to acquire a cement plant as part of plans to triple capacity by 2020, a senior company executive has said. Deepak Ketrapal, managing director of Orient Cement, told local press that "strategic discussions“ are being held to acquire a 2M...

14 August 2014

FLSmidth maintains 2014 guidance

FLSmidth has reviewed and approved the company’s interim report for the six months to 30 June 2014, maintaining its 2014 guidance and noting a significant improvement in margins. However, its order intake declined de...

14 August 2014

Sagar in talks to buy BMM Cements, India

Sagar Cement is in talks to buy BMM Cements as it plans to use the proceeds from the sale of its stake in the Vicat Sagar joint venture to fund growth organically and through M&A activity. BMM Cements operates a 1M...

14 August 2014

CRH to sell Turkish joint venture

CRH and its Turkish partner, Eren Holding AS, have hired JPMorgan Chase & Co to help sell their cement joint venture in Turkey, according to reports in the Irish Times. Sources familiar with the matter say that thre...

14 August 2014

Badami takes up role of ACC chief executive officer and MD

Harish Badami yesterday assumed the role of CEO and managing director of India’s second-largest cement producer, ACC. "Harish Badami has taken over as CEO & MD from August 13 2014 and Kuldip Kaura has demitted offic...

14 August 2014

CVC in talks over Holcim Lafarge assets

Private equity firm CVC is in talks with Singapore's Government Investment Corporation over possible joint bids for Holcim and Lafarge assets ahead of their planned merger, Sky News reported on Tuesday. The companie...

13 August 2014

Tongling Shangfeng to enter Kyrgyzstan

Tongling Shangfeng Cement, a subsidiary of Gansu Shangfeng Cement, has signed a letter of intent to acquire an equity stake in Zeth Cement of Kyrgyzstan. The Chinese-based company aims to join forces with investor...

14 August 2014

Oman: Raysut Cement first-half net profit ahead

Oman’s Raysut Cement reported a 5.9 per cent rise in net profit in the six months to the end of June 2014 while cement volumes held firm despite heightened competition. The company reported a net profit of OMR15.5...

12 August 2014

CRC attributable profit surges, China

China Resources Cement (CRC) said its profit attributable to owners for the six months ended 30 June 2014 rose 79.5 per cent YoY to HK$2056m. Basic earnings per share were HK31.5 cents. Turnover reached HK$15,161m...

14 August 2014

Nigeria: Ashaka trebles profit in 1H14

Nigerian Lafarge subsidiary Ashaka Cement has reported a 1H14 profit after tax of NGN3.51bn (US$21.5m), a 201 per cent increase than its 1H13 figure of NGN1.15bn. Pretax profits at the company surged 166 per cent YoY...

11 August 2014

Semen Indonesia to expand to 72.9Mta by 2030

PT Semen Indonesia said that it intends to expand its production capacity to 72.9Mta by 2030. As a result, output potential would more than double its present capacity of 31.8Mta, according to Dwi Soetjipto, Semen In...

08 August 2014

Bamburi posts first-half pretax profit drop

Bamburi Cement posted a 28 per cent drop in first-half pretax profit to KES2.3bn (US$26.2m) from KES3.2bn a year earlier. The Lafarge group company attributed the decline to rising power costs, increased use of impor...

08 August 2014

Turkish producers divest of power unit

Turkish cement producers Batisoke Soke Cimento Sanayii and Baticim Bati Anadolu Cimento Sanayii have sold their jointly-owned power unit Tezli Dere Elektrik Uretimi. Batisoke has sold its 36 per cent stake in the po...

08 August 2014

Senior appointments at Orient Cement, India

Orient Cement’s board of directors has appointed Rahul Deshmukh as chief operating officer at a meeting held on 7 August 2014. Meanwhile, Sushil Gupta has been named chief financial officer of the company. SK Pandey...

07 August 2014

Fitch affirms HeidelbergCement’s ratings

Fitch Ratings has affirmed HeidelbergCement’s Long-term Issuer Default Rating (IDR) at 'BB+' and Short-term IDR at 'B'. The Outlook on the Long-term IDR is 'Stable'. The agency has also affirmed the senior unsecure...

07 August 2014

Tasek 2Q revenue lifted by domestic cement sales

Tasek Corp Bhd reported a 20.78 per cent rise in revenue for the second quarter, driven by higher demand for cement in its domestic market of Malaysia. Revenue for the three months to the end of June 2014 reached M...