Cement News tagged: Corporate
Buzzi Unicem makes binding bid for SACCI
Buzzi Unicem has made a second offer for fellow Italian producer SACCI to acquire its cement and ready-mix concrete business. In a statement Buzzi said it had offered a provisional price of EUR74m to be financed through liquidity on hand and/or existing credit facilities. A further variable outlay is expected on top of the original commitment which will be worth no less than EUR25m, Buzzi...
CRH plc completes Philippines element of LafargeHolcim transaction
CRH has completed the acquisition of the assets acquired from LafargeHolcim in the Philippiness. In early August, CRH confirmed that the majority of the transactions relating to the package of assets to be acquired from LafargeHolcim were complete, with the exception of the operations in the Philippines which it advised would be finalised in 3Q15.
CRC Cement Holdings to acquire 40% stake in Yunnan producer, China
China Resources Cement Holdings Ltd (CRC) has agreed to pay CNY1.51bn (US$236.9m) for a 40 per cent stake in cement producer Yunnan Kunming Iron & Steel Building Materials Group Co, in a bid to lift production capacity. The Hong Kong-listed cement manufacturer said Monday it plans to buy a minority stake in the Yunnan-based producer. Kunming Iron & Steel Holding Co, Ltd currently owns 1...
Chinese ministries give nods to 37 cement, panel glass projects
The Ministry of Industry and Information Technology (MIIT) and the National Development and Reform Commission (NDRC) have given green lights to construction of 37 cement and panel glass projects in seven provinces of China, the MIIT said on Monday. The 37 projects that have already been under construction include three in Jiangsu Province, six in Fujian province, six in Hubei province, nine i...
KHD signs contracts in Russia
ZAB Zementanlagenbau GmbH Dessau (ZAB), Dessau, Germany, a subsidiary of KHD Humboldt Wedag International AG (KHD), Germany, has signed contracts totalling over EUR100m for equipment and services for a new cement plant with a production capacity of 4500tpd clinker. The new plant will be built in the Northern Caucasus region of Russia.
Asia Cement issues 9M15 profit warning, China
Asia Cement said it is expecting to record a net loss for the nine months ending 30 September 2015 compared to a net profit in the year-ago period. The expected loss is mainly attributable to the decrease in average selling price of the company's products and the foreign exchange loss from US dollar-denominated bank borrowings as a result of the devaluation of RMB. As a substantial por...
ARM expects new clinker line to boost margins
Kenya's ARM Cement expects profitability to improve now it produces its own clinker for its east African cement plants, its managing director told Reuters on Friday. The company posted a pretax loss of KES473.5m (US$4.5m) in the first six months, which the firm blamed on unrealised foreign exchange losses associated with borrowing for its new clinker plant. Managing director Pradeep Paunrana...
China: MCC unit to sell cement assets
China 22MCC Group Corporation Ltd, a wholly-owned subsidiary of the China Metallurgical Group Corporation (MCC), plans to sell cement assets for a combined CNY57.64m, according to the China Beijing Equity Exchange. China 22MCC Group aims to sell its 6.7379 per cent stake in Jidong Cement Luan County Corp for about CNY44.44m and its nine per cent stake in Tianjian Jidong Cement Corp for around...
Cementos Argos included in the Dow Jones Sustainability Index for the third-consecutive year
The Dow Jones Sustainability Index has selected Cementos Argos once again as one of the three most sustainable cement companies in the world. For the third-consecutive year, the company managed to get the score necessary to be included in the World and Emerging Markets Indices. For the economic dimension, Argos obtained the highest score in the industry, nearly doubling its average score, a...
Steppe Cement first-half loss narrows, Kazakhstan
Steppe Cement Ltd Friday said its first-half loss before tax narrowed to US$2.29m from US$6.40m in the previous year. Loss after tax totaled US$2.2m, narrower than the US$4.1m loss in the prior year. Consolidated turnover fell to US$44.7m from US$51.8m. Sales increased to 717,654t from 709,459t. The average ex-factory price decreased from 10 per cent to KZT10,797/t, due to competition fr...
PCA expects 2015 demand to increase 5%
Despite volatility in equity markets and concerns about global growth conditions, PCA Chief Economist and Group Vice President, Edward Sullivan, has said “the fundamentals in the United States are sound and should support sustained growth in construction activity.” The PCA notes that the US economy is characterised by steady and strong gains in net job creation, low inflation, low interest ra...
Indian prices rising in the north, down in the south - report
JM Financial says in the past few weeks India cement prices have risen by INR50/bag in the north while they fell by INR20/bag in the south. Across India though cement prices have increased just 1.1 per cent YoY during April-July. If the divergence continues, north India-based cement makers may see a sharp rebound in profitability after four to five quarters of disappointing earnings, whereas...
GCC to invest US$90m in US plant
Grupo Cementos de Chihuahua (GCC) will invest up to US$90m in the next two years to increase capacity at one of its three US plants, while assessing further acquisition opportunities, according to Luis Carlos Arias, finance director of GCC. The investment will enable GCC to nearly double capacity at its South Dakota works. The facility currently has a production capacity of 0.7Mta, which is...
Vicat launches new range of high performance cements
Vicat is launching a new range of “ultra-performing” cements: Alpenatup, Ultimatup, Smartup and Promptup. The latest additions to the Vicat product range are particularly suited to the construction, public works and civil engineering markets, according to the company. "We wanted to give this range of ultra-high performance cements an easily-understood name as well as a colour code that is con...
Pakistan's August sales buoyed by domestic dispatches
Pakistan cement dispatches rose by 10.24 per cent in August 2015 to 3.061Mt despite a 31 per cent drop in exports. According to the data released by All Pakistan Cement Manufacturers Association (APCMA), domestic sales during August 2015 increased by 28 per cent to 2.494Mt from 1.94Mt a year earlier. Dispatches from the North Zone were up by 22.8 per cent YoY to 2.024Mt (August 2014: 1.648M...
Essroc Italcementi Group announces new CEO
The Italcementi Group has appointed Alex Car as the president and CEO of its Essroc North American operations. Car previously served as Essroc senior vice president of cement sales and marketing and general manager of construction materials. “I am honoured to be appointed as Essroc’s CEO,” Mr Car said. “It is a privilege to be part of an organization that delivers high-quality products and in...