Cement News tagged: Corporate
Titan achieves better results in USA and Greece
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
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
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
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
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
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
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
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
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
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
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
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...
Vicat sees weak volumes in Europe & Turkey
Vicat's first quarter turnover emerged 0.1 per cent ahead at EUR537m, which represents an underlying decline of eight per cent. The cement turnover improved by 5.9 per cent to EUR341m, as cement shipments declined by 7.7 per cent to 4.25Mt. The turnover in concrete and aggregates was 5.2 per cent lower at EUR189m as aggregates shipments declined by 18.7 per cent to 4.19Mt and ready-mixed co...
LH clearance received in US and Canada
Lafarge and Holcim have received final approval for their proposed merger from the competition authorities in the USA and Canada. All competition approvals necessary for closing the transaction have now been obtained ahead of the expected closing in July 2015. Following the regulatory assessment in all key jurisdictions, Holcim and Lafarge can now present a final list of divestments to s...
Buzzi Unicem's bid for Sacci expires
Buzzi Unicem’s offer to buy Sacci SpA has expired after being rejected by the banks and creditors and the bidder is no longer bound to any commitment, the Italian cement major announced. “We inform that the population of the banks and creditors that take part in the debt restructuring agreement pursuant to article 182-bis of the Bankruptcy Law did not endorse the proposal by Buzzi Unicem. The...
Holcim Indonesia's 1Q15 revenue declines on weak demand
Holcim Indonesia recorded a decline in sales revenue of five per cent to IDR2.25trn in the first three months of the year, as volumes were down by seven per cent, reflecting the contraction in domestic demand over the period. Net income dropped to IDR32.7bn (US$2.5m) in the January-March period from IDR323.6bn in the same quarter last year. National demand for cement fell to 13.9Mt ...