Cement News tagged: Corporate

Buzzi improves in the USA & central Europe

14 May 2015, Published under Cement News

Buzzi Unicem's first-quarter turnover increased by 3.4 per cent to EUR513.39m and the EBITDA went from a EUR10.26m to EUR27.15m. The loss at the trading level was reduced by 48.6 per cent to EUR19.24m. Net financial charges increased by 31.3 per cent to EUR43.01m giving a seasonal pre-tax loss 24.5 per cent lower at EUR46.16m. Net debt at the end of March was 6.6 per cent higher at EUR1133.3m,...

Holcim shareholders back all motions for proposed merger

11 May 2015, Published under Cement News

Lafarge and Holcim have today successfully secured support from Holcim shareholders for their proposed merger and completed one of the final key steps on their way to creating a global building materials giant. Representing around 72 per cent of the company’s share capital, the 738 shareholders attending the Extraordinary General Meeting of Holcim Ltd approved all motions proposed by the Board...

Votorantim Cimentos issues EUR500m in European bonds

08 May 2015, Published under Cement News

Votorantim Cimentos SA announces the issuance of its Euro-denominated bond, representing the first issuance since November 2014 by a Brazilian company in the international capital markets in 2015.  The issuance followed three days of investor meetings in London, Amsterdam, Munich and Frankfurt, which resulted in an issuance of €500 Euro-denominated notes due 2022 bearing interest at the rate o...

Italcementi advances in India and Morocco

08 May 2015, Published under Cement News

Italcementi's first-quarter turnover improved by 5.1 per cent to EUR980.5m while the running EBITDA eased 0.4 per cent to EUR95.2m. The trading loss was increased by 13 per cent to EUR4.7m and net interest charge rose by 2.6 per cent to EUR34m. The pretax loss declined by 23.1 per cent to EUR34m but a higher tax charge led to a 7.5 per cent increase in the net attributable loss to EUR73.4m. ...

Titan achieves better results in USA and Greece

Titan achieves better results in USA and Greece

08 May 2015, Published under Cement News

Titan's first-quarter turnover improved 12.7 per cent to EUR283.8m and EBITDA declined by 23.7 per cent to EUR23.2m. The company posted a pretax profit of EUR7.6m versus a loss of EUR9.7m a year earlier, while the net attributable profit of EUR6.6m compared with a loss of EUR11m. Net debt at the end of March, however, was up by 22 per cent to EUR660m, giving a gearing level of 42.2 per cent...

Najran to meet investors for riyal sukuk issue

08 May 2015, Published under Cement News

Saudi Arabia-based Najran Cement plans to meet fixed income investors starting on Sunday for a riyal-denominated sukuk issue, the company said yesterday. Najran has appointed Saudi Fransi Capital as sole lead manager, the firm said in stock market filing. Proceeds from the issue will be used to refinance debt and for general corporate purposes. Najran did not provide details of the tenor and...

Bolivia: Soboce raises bagged cement price

Bolivia: Soboce raises bagged cement price

08 May 2015, Published under Cement News

The price of a bag of cement produced by Bolivia’s Soboce increased 4.5 per cent or BOB2.50 to BOB58.50 in La Paz and by BOB3 to BOB58 in Oruro. Soboce has said the rise would bring the price in line with other parts of Bolivia. However, building companies attribute the advance to an increase in salaries at the cement producer this year.

HeidelbergCement benefits from additional capacities

12 May 2015, Published under Cement News

HeidelbergCement's first quarter turnover improved by 12.4 per cent to EUR2,835m and the EBITDA improved by 45.9 per cent to EUR299m and the trading profit jumped 183 per cent to EUR115m. The net interest charge declined by 1.3 per cent to EUR158m and the pre-tax loss was reduced by 12.9 per cent to EUR101m and the net attributable loss declined by 16.3 per cent to EUR123m. Capital expendit...

Lafarge Africa 1Q revenue rises 15% YoY

07 May 2015, Published under Cement News

Lafarge Africa Plc reported revenue of NGN57bn (US$286.36m) in the first quarter of this year, 15 per cent higher than the corresponding period of 2014. Profit after tax was NGN8.6bn and NGN14.6bn of cash was generated from operations. In his statement, the Chairman, Board of Directors, Chief Olusegun Osunkeye CON, OFR, said: "our Company has delivered a good performance in spite of the g...

China Tianrui increases stake in China Shanshui Cement

07 May 2015, Published under Cement News

China Tianrui Group Cement last month increased its stake in China Shanshui Cement to 28.16 per cent, more than Shanshui founder Zhang Caikui. Fitch Ratings deemed the move a change of control. It also downgraded Shanshui to BB-, three levels below investment grade, citing weak cement prices. "The Chinese authorities' approach to the sector is clear - they want consolidation," said Kalai Pi...

Votorantim Cimentos preps euro trade

08 May 2015, Published under Cement News

Brazil's leading cement producer, Votorantim Cimentos, announced a new seven-year benchmark euro trade to be priced as early as this week. The deal is expected to be leverage-neutral as proceeds will be used to refinance existing debt, Moody's said. As positives, the rating agency cites the company's strong credit metrics and importance to parent Votorantim Industrial, to which it contributed...

CRH: good advance in North America

08 May 2015, Published under Cement News

CRH's underlying sales in the first four months declined by around two per cent in Europe and increased by about eight per cent in the Americas during the first four months of the year. Some EUR45m was spent on acquisitions and investment during the first four months, while EUR540m was raised from divestments during the period. The group EBITDA in the first half expected to be around 10 per ce...

Semapa acquires 50% stake in Supremo Cimentos

07 May 2015, Published under Cement News

Semapa and Secil, through its Brazilian subsidiary, entered into an agreement for the acquisition of a 50 per cent stake of the Brazilian company Supremo Cimentos. With this acquisition, the companies now indirectly hold the entire share capital of the Supreme. "Our subsidiary of Brazilian law, NSOSPE Empreendimentos e Participações, owned jointly by Semapa and Secil - Companhia Geral de Cal ...

Raysut sees sharp fall in operating profit

07 May 2015, Published under Cement News

Oman-based Raysut Cement Co said operating profit fell sharply by 26.7 per cent in the first quarter of 2015 due to a doubling of the price of natural gas supplied by the government and rising transportation costs. Group operating profit fell to OMR6.02m from OMR8.23m in the same period of 2014. "This is mainly due to the increase in natural gas price by the government to US$3 per MMBtu from...

Mexico: Elementia plans 1.5Mta expansion

07 May 2015, Published under Cement News

Mexico’s Elementia conglomerate announced it will invest US$250m to expand capacity at its Atotonilco de Tula plant in Hidalgo, operated by Cementos Fortaleza. Following completion of the project in 2017, the plant will have a capacity of 3.5Mta. In 1Q15, Elementia saw its revenues increase to MXN4070m, up 12 per cent YoY as its cement division registered 26 per cent growth.

South Africa: PIC increases stake in PPC

06 May 2015, Published under Cement News

The Public Investment Corporation (PIC) had increased its investment in PPC to 15.165 per cent, the South African cement producer yesterday. The PIC confirmed in December when the AfriSam Group made a non-binding proposal of a merger with PPC that the corporation held 12.57 per cent of PPC and 66 per cent of AfriSam. Talks between the two cement producers were halted in March when they were...