Cement News tagged: Corporate

LafargeHolcim brands CRH purchase write-down claims "without merit"

24 March 2016, Published under Cement News

CRH is disputing the value of the assets it purchased in February last year as part of the requirement from competition regulators to allow the creation of LafargeHolcim. The EUR6.5bn price paid by CRH is now under scrutiny, according to Reuters. In its annual report, published last week, LafargeHolcim stated: " LafargeHolcim has received from CRH several notices claiming a reduction of th...

Cement Australia stake up for sale?

24 March 2016, Published under Cement News

One of the two main shareholders of Cement Australia is reported to consider a potential sale of its 50 per cent stake, according to market sources. The value of Cement Australia is being discussed at US$800m, according to reports in Business Spectator. One theory suggests that Holcim could carry out the divestment ahead of plans to sell of its US$3bn Australia and New Zealand division ...

Ukraine: Pushka Cement reports UAH5.8m loss in 2015

21 March 2016, Published under Cement News

Kramatorsk-based Pushka Cement Plant in the Donetsk region of Ukraine has preliminarily reported loss of UAH5.835m (US$219,364) for 2015. The Eurocement Ukraine subsidiary reported a loss of UAH17.178m in 2014. The assets of the company made up UAH 70.195m, receivables UAH 53.927m and current liabilities UAH 0.111m.

Indonesia: PT Indocement streamlines operational efficiency

21 March 2016, Published under Cement News

Indonesia's second-largest cement producer, PT Indocement Tungall Prakarsa, has seen its net profit fall decelerate as operational efficiency measures have successfully taken hold The publicly-listed company’s Board of Directors announced that Indocement booked IDR4.36tn (US$33.3bn) of net profits last year, 17.6 per cent less than the IDR5.29bn in 2014. Its revenues slid by 11 per cent to ...

HeidelbergCement improves margins and profit

HeidelbergCement improves margins and profit

18 March 2016, Published under Cement News

HeidelbergCement's turnover increased by 6.7 per cent last year to EUR13,465m and the EBITDA improved by a 14.2 per cent to EUR2612.7m and the trading profit advanced by 15.7 per cent to EUR1846.1m. After a 14.3 per cent reduction in net interest payments to EUR396.3m, the pre-tax profit rose by 41.1 per cent to EUR1313.4m and the net attributable profit jumped by 64.7 per cent to EUR800.1m...

Glenwood PE to acquire Lafarge Halla

18 March 2016, Published under Cement News

South Korea’s Glenwood Private Equity (PE) has inked a deal to acquire Lafarge Halla Cement Corp. from LafargeHolcim Ltd. for about KRW630bn (US$542m), said the company Thursday. LafargeHolcim said it expects to close the sale of Lafarge Halla, Korea’s fifth-largest cement producer, in the 2Q16, subject to final approvals. The sale follows several other ownership changes in the South Kore...

AfriSam breaks ground on new Lesotho facility

AfriSam breaks ground on new Lesotho facility

18 March 2016, Published under Cement News

AfriSam has broken ground on a blending and packing facility with an initial capacity of 0.2Mta at the company’s existing distribution centre in Maseru, Lesotho, South Africa. Completion is scheduled for  3Q16. AfriSam has partnered with a local company, Cement Industries Ltd, to co-invest in the new plant project. “AfriSam’s new plant will comfortably meet the local cement demand and will ...

Fitch: West China Cement's weaker operating results outweighed by Anhui Conch's takeover

18 March 2016, Published under Cement News

Fitch Ratings believes West China Cement Ltd's weaker operations – as reflected in the 2015 results – is outweighed by its pending takeover by Anhui Conch Cement Company Limited (Conch, A-/Stable). Fitch's Rating Watch Positive on WCC is driven by the potential further integration between Conch and WCC, which will be resolved once the transaction is completed. WCC's performance in 2015 was ...

LafargeHolcim: synergies and net debt targets exceeded in 2015

18 March 2016, Published under Cement News

LafargeHolcim’s FY15 results show a 4Q15 net loss of CHF2.86bn (US$2.94bn), including CHF3bn impact of asset impairment and other charges. The company’s net debt level was recorded at CHF17.3bn (US$17.8bn), while 4Q15 cash flow was CHF813m (US$839.6m) after adjusting for one-off items of CHF166m. The group’s 4Q15 results were impacted by challenges in the markets of Brazil, Switzerland, China...

Kenya: Bamburi Cement sees 50% profit hike in 2015

17 March 2016, Published under Cement News

Bamburi Cement’s profit jumped 50.4 per cent YoY to KES5.8bn (US$748m) in 2015 as both domestic and overseas sales saw growth. Operating expenses increased 29 per cent YoY to KES5.2bn. The profit was achieved despite a slowing Kenyan economy in 4Q15, according to Bruno Pescheux, group MD. The 2015 market conditions were more favourable compared to 2014, with stable micro-economic conditions f...

Ghana to restrict cement imports

18 March 2016, Published under Cement News

The Ghanaian government has announced plans to restrict cement imports into the country with Dr Ekwow Spio-Garbrah, Minister of Trade and Industry, proposing the curtailment. "The Ministry of Trade and Industry proposes through legislative instrument to impose a ceiling on the annual importation of cement into Ghana. Companies that wish to import bagged cement shall be issued a permit to av...

Domicem inaugurates new mill

18 March 2016, Published under Cement News

Domicem, owned by Italy’s Colacem, has inaugurated its new vertical mill at its plant in south-central San Cristobal province of the Dominican Republic. The new mill was supplied by Loesche GmbH and represents an investment of over DOP900m (U$19.66m). It will enable Domicem to reduce power consumption by around 35 per cent while lifting production capacity by over 10 per cent. The project ...

PPC eyes longer-term growth outside of Africa

17 March 2016, Published under Cement News

PPC has unveiled a new expansion strategy that envisages doubling the business every 10 years and growing beyond its traditional markets in Africa. In an investor presentation posted on PPC's website ahead of this week’s Merrill Lynch conference in Sun City, the company set out its ambitions for the future even as it warned of falling cement sales in the first months of FY16.  In the pre...

Cementir: hearing with creditors and opening of creditors’ vote for Sacci's composition

16 March 2016, Published under Cement News

Cementir Holding has announced that the hearing with creditors for Sacci’s composition, which includes the offer to purchase its business divisions submitted by Cementir Holding’s subsidiary Cementir Italia Spa, was held on 14 March 2016 before the Court of Rome. The offer was formally accepted by the Board of Directors of Sacci Spa during its meeting on 10 March 2016. Sacci’s creditors wi...

Sberbank and Eurocement agree debt restructuring deal

18 March 2016, Published under Cement News

Russia's leading cement producer, Eurocement group, and Sberbank CIB have agreed on conditions for restructuring the company’s loan portfolio. The deal envisages pushing back loan repayments worth RUB42bn (US$597.8m) and US$360m by up to six years and optimisation of interest rates. The conditions for restructuring the debt portfolio will enable Eurocement group to take a more flexible a...

Algeria: Sour El Ghozlane back in production

16 March 2016, Published under Cement News

Buzzi Unicem's cement plant at Sour El Ghozlane, Algeria, has returned to production following the repair and installation of new electrostatic precipitators (ESPs). The production facilities have been out of action for two months, resulting in a cement shortage in the country’s central region.