Corporate

16 April 2014

Fitch affirms Holcim long-term rating

Following the announcement by Holcim to merge with Lafarge SA, Fitch Ratings has affirmed the Swiss major's Long-term Issuer Default Ratings (IDR) at 'BBB'. The Outlook is Stable. The affirmation reflects the combined group's improved scale, diversification and market positions on co...

11 April 2014

Anglo American completes the sale of Tarmac Building Products to Lafarge Tarmac

Anglo American plc announced the completion of its sale of Tarmac Building Products Limited (TBP) to Lafarge Tarmac Holdings Ltd (Lafarge Tarmac), following receipt of regulatory approval. Anglo American announced o...

11 April 2014

SCCC cautious on revenue growth and demand

Siam City Cement (SCCC) is cautious on its outlook for the year and expects marginal or even flat revenue growth. Speaking to the Bangkok Post, director and chief executive Vorathep Rangchaikul, said the political c...

10 April 2014

Argos acquires French Guiana assets

Colombia's largest cement maker, Argos, said on Wednesday it will pay EUR50m to acquire Ciments Guyanias, owned equally by Lafarge and Holcim, just two days after the European majors announced a merger. The purchase...

10 April 2014

Brazil: Votorantim Cimentos plans bond buyback

Votorantim Cimentos yesterday unveiled plans to buy back up to US$1.03bn in overseas bonds due 2017, according to a banker close to the transaction. The bonds carried an annual coupon of 5.25 per cent and a yield of...

10 April 2014

Fitch Ratings considers Lafarge upgrade

Fitch Ratings announced yesterday it considers upgrading the credit rating of French concrete and cement group Lafarge after the company unveiled its merger with Swiss peer Holcim. The ratings agency said it is moti...

10 April 2014

Oyak eyes Europe, Africa acquisitions

Turkey-based Oyak is looking into acquisitions in the cement sector, with a specific focus on Europe, Africa and Great Britain, its cement group chairman Celalettin Caglar said on Thursday. Speaking to Reuters, Cagl...

09 April 2014

Qassim Cement 1Q14 net profit declines

Qassim Cement Company reported net profits amounting to SAR159m (US$42.4m) in the first quarter of 2014, down 5.59 per cent for the same period of the last year. In a statement issued today, the Saudi-based company ...

09 April 2014

Deutsche Bank upgrades Holcim to buy

Deutsche Bank upgrades Holcim to buy from hold and lifts its target price to CHF90 (EUR74) from CHF70  (EUR57) as the upside potential in the building sector should boost cement demand. This "when combined with a ...

15 April 2014

Umm Al Qura set to raise US$73m via float

Umm Al Qura Cement is to raise over SAR275m (US$73m) in cash by selling 27.5m shares at SAR10 each via a flotation on Saudi Arabia's stockmarket, Tadawul. The shares are expected to be floated by the new Riyadh-bas...

09 April 2014

West China Cement repurchases 2m shares

West China Cement Ltd bought back 2m shares for HK$1.9m on 8 April 2014, media reported, citing Hong Kong Stock Exchange documents. Between 1 January and 8 April, the Xi'an City-based cement manufacturer repurchased...

08 April 2014

Moody's places Lafarge's ratings on review for upgrade, changes outlook on Holcim Baa2 rating

Moody's has put Lafarge's Ba1 rating on review for a possible upgrade following the announced merger proposal with Swiss peer Holcim. At the same time, the credit rating's agency has changed its view on Holcim's Baa2...

10 April 2014

Holcim Indonesia to integrate two subsidiaries

Holcim Indonesia plans to integrate two subsidiaries as part of efforts to improve operational efficiency, the company said in a statement on Friday. The Indonesian division of the cement Swiss major plans to merge ...

08 April 2014

Cemex Latam to participate in construction of 12,000 sustainable housing units

Cemex Latam Holdings (CLH) announced today it expects to participate in the construction of approximately 12,000 sustainable housing units in Latin America during 2014, the company said in a statement. CLH will use ...

07 April 2014

Lafarge and Holcim agree cement merger

Holcim and Lafarge have confirmed today their intention to combine the two companies through a merger of equals, to create a new number one global cement major. Billed as a ‘merger of equals’, Lafarge shareholders w...

10 April 2014

Cemex to appeal Spanish fine

Cemex said Spanish tax authorities have fined its Spanish subsidiary EUR455m (US$620m) following an audit of the unit's tax returns for the years 2006 through 2009. Cemex Espana plans to appeal the fines, the co...