Cement News tagged: Corporate
HeidelbergCement clarifies reports on Lafarge's Indian assets
Following local press reports, HeidelbergCement has said it is not buying Lafarge’s assets in eastern India. The Bombay Stock Exchange had sought clarification from HeidelbergCement India Ltd with regard to a news article that appeared in the The Financial Express yesterday titled: "Heidelberg likely to acquire Lafarges eastern India units." HeidelbergCement India Ltd replied stating: "K...
Cemex 2Q like-for-like net sales up 5%
Cemex announced yesterday that consolidated net sales reached US$3.8bn during the second quarter of 2015, representing a decline of eight per cent YoY, or an increase of five per cent on a like-for-like basis for ongoing operations and adjusting for currency fluctuations. The increase was due to higher prices, in local currency terms, in most operations, as well as improved volumes in most pro...
Caribbean Cement Co swings to first-half profit, Jamaica
Caribbean Cement Co Ltd (CCCL) reported a consolidated profit of JMD869.3m (US$7.42m) for the first six months of 2015, compared to a loss of JMD53.2m in the corresponding period of 2014 – an improvement of JMD922m. The TCL group company said revenue during the first half of this year rose by four per cent (or JMD276m) over the period, mainly driven by improved domestic sales volumes and incr...
Costa Rica is the strongest performer in Cemex Latin American Holdings
Cemex Latin American Holdings' first-half turnover declined by 13.4 per cent to US$747.6m, while the EBITDA came off by 16.6 per cent to US$283.1m. At the trading level there was an 18.6 per cent reduction to US$191.7m. After a net interest charge 14.8 per cent lower at US$40.6m, the pre-tax profit emerged 22.9 per cent lower at US$142m. The net attributable profit fell by 32 per cent to US...
Peru: Unacem 1H15 net profit up 23%
Peru-based producer Unacem reported a 23 per cent rise in its net profit for the first half of 2015 to PEN151m (US$47.4m) largely attributed to cost controls. Lower operational costs (-9.1 per cent) saw operating profit rise to PEN455.7m, up 93.4 per cent when compared with !H14. However, higher financial costs (+107 per cent to PEN114.1m) and exchange losses (-PEN181m) had a negative effec...
Tangshan Jidong Cement Co to issue CNY1bn 366-day bills
Tangshan Jidong Cement Co, based in Tangshan, Hebei Province, has announced that it will issue CNY1bn (US$161m) unsecured short term bills with a maturity of 366 days on the interbank market on 29 July 2015. The company said in a statement that the bills will be issued at the face value, and the coupon rate determined in the process of bookbuilding. Both value date and payment due date is se...
China Shanshui shareholders mull takeover bid
China Shanshui Cement Group Ltd said two of its largest shareholders are considering a takeover bid, Bloomberg reports. Asia Cement Corp of Taiwan and China National Building Material Co, which together own about 38 per cent of Shanshui Cement, are considering a general cash offer to acquire the shares they don’t already control, the companies said in a statement to Hong Kong’s exchange Tuesd...
AI takes ownership of Lafarge Cement assets
Aggregate Industries, part of the LafargeHolcim group, is the newest entrant to the cement production market in the UK, having taken ownership of the Cauldon and Cookstown cement plants in the UK. The acquisition of these two plants, along with a quarry at Cauldon Low and a cement terminal at Belfast Docks, was finalised on Monday and involved the transfer of 250 employees from the existing o...
Bolivia: Soboce income falls 49% in FY14-15
Soboce profits fell 48.8 per cent YoY from US$31.46m to USS16.12m in the period April 2014-March 2015. The result due to a rise in costs, heavy rains and the payment of a US$7.41m fine for alleged anti-competitive practices. Sales volumes and prices have remained stable, according to the company. "The projection of revenues for the current administration depends on the growth in domestic dem...
Aboitiz Equity to invest in Philippine venture
Aboitiz Equity Ventures Inc said it will invest PHP24bn (US$531m) in the cement business after formalising a deal with Irish cement maker CRH Plc to buy the Philippine assets of Lafarge SA, Reuters reports. In May, Aboitiz said it was looking to partner with CRH to buy Lafarge's assets in the Philippines as the local power-to-banking conglomerate sought to diversify into infrastructure. ...
TCL reports second-quarter results
Having successfully refinance its restructured debt, Trinidad Cement Ltd has been able to take advantage of the maximum discount that was negotiated with creditors in May 2015. Net of fees incurred for the new financing, the company was able to benefit from prepayment discounts of TTD194.2m, all of which has been reflected in its second quarter 2015 results released yesterday. The restructur...
Egypt: Suez Cement 2Q net profit drops 57%
Suez Cement posted a second-quarter net profit of EGP60.9m (US$7.8m) on Tuesday, down 57.2 per cent from the EGP142.5m recorded a year earlier. Revenue over the three month period declined by 15 per cent due to lower prices and exports. Suez Cement said it was diversifying its energy sources to mitigate the impact of shortages which "affected negatively the company's profits".
Sustained global cement demand growth expected
Global cement consumption is expected to record sustained growth in 2015, with further gains forecast for 2016, according to analysis presented in the recently-released Global Cement Report Eleventh Edition. The report, which covers key cement market data for over 170 countries, reveals that total world consumption rose by 2.6 per cent in 2014 to 4140Mt, compared to the 7.7 per cent growth ac...
UltraTech first quarter profit falls 5.5%
UltraTech Cement's first quarter standalone net profit fell 5.5 per cent YoY to INR591 crore. The Aditya Birla Group firm had posted net profit of INR628 crore in the year-ago period. Cement and clinker sales during the quarter ended 30 June 2015 climbed six per cent to 12.14Mt from 11.7Mt a year earlier. Energy costs improved by seven per cent but the reduction in fuel prices was partl...
Summit Materials completes acquisition of Lafarge North America assets
US-based construction materials company Summit Materials, Inc has completed its previously announced acquisition of a 1.2Mst cement plant in Davenport, Iowa along with seven cement distribution terminals from Lafarge North America Inc. unit for a purchase price of US$450m in cash, plus an exchange of Summit’s Bettendorf, Iowa cement distribution terminal, the company said on Monday. The newly...
Vietnam: Song Lam project 'facing financial difficulties'
The Vissai Cement Group, which is building the 12,000tpd Song Lam Cement Plant, has announced that ground clearance has already reached about VND240bn (US$11m). As a result, the group has reported 'facing financial difficulties' and is also struggling with the costs of clearing the path for a road between the plant site and an existing grinding facility. The project involves two production ...