Cement News tagged: Corporate
Adelaide Brighton predicts 2015 sales gain
Australian construction materials group Adelaide Brighton says cement and clinker product sales volumes should be "similar to or greater than" levels in the prior year. Lime sales, which declined 7.7 per cent in 2014 after a downturn in the gold sector, were also anticipated to be similar or slightly higher than last year. The group told shareholders at today's annual general meeting th...
TCL poised for new loan syndication
Trinidad Cement Limited (TCL) is set to launch a US$245m five-year term loan as it seeks to turn a new leaf following the completion of a debt restructuring earlier this year, Reuters reports. Bank meetings in New York today will kick off a syndication being led by Credit Suisse and Citigroup, whose bridge loan to the company is expected to be taken out with this transaction. After failing t...
Holcim and Lafarge seal binding deal with CRH
Lafarge and Holcim have now entered a binding agreement with CRH regarding the sale of several assets with an enterprise value of EUR6.5bn. As announced in February 2015, the assets include operations mainly in Europe, Canada, Brazil and the Philippines (see below). The acquisition remains conditional upon successful completion of the merger of Lafarge and Holcim as well as the completion o...
Future LH Executive Committee finalised
Lafarge and Holcim have completed the appointments for the future Executive Committee of LafargeHolcim following a recommendation by Eric Olsen, future CEO of the combined group. The future Executive Committee, under the leadership of Eric Olsen is composed of: • Finance, Thomas Aebischer, currently in charge of Finance at Holcim • Integration, Organization & Human Resources, Jean-Jacques G...
Steppe Cement announces retirement of non-executive chairman
Steppe Cement Ltd announced that Malcolm Brown will retire on 28 May 2015 as the non-executive chairman “due to health reasons” and he does not intend to stand for re-election in the forthcoming AGM. Mr Brown has served on the Board for more than six years since December 2008 and as a member of the Audit and Remuneration Committees. He will remain as a shareholder of Steppe Cement. Kazahstan...
China Tianrui Group Cement Co to issue CNY500m unsecured short term bills
China Tianrui Group Cement Co, a leading clinker and cement producer in Henan and Liaoning provinces, has announced that it will issue CNY500m (US$80.7m) unsecured short-term bills with a maturity of 366 days on the interbank market on May 26. The corporation said in a statement that the bills will be issued at the face value, and the coupon rate determined in the process of bookbuilding. Bo...
Lafarge Malaysia first-quarter pretax profit rises, construction outlook 'positive'
Lafarge Malaysia Bhd's pretax profit for the first quarter to the end of March 2015 rose to MYR99.36m (US$27.6m) from MYR97.19m in the same quarter of last year. Revenue advanced by three per cent to MYR696.09m versus RM676.63m in the same period of last year due to higher cement and concrete sales in the domestic market on the back of market growth, it said in a filing to Bursa Malaysia tod...
Jaiprakash reportedly in talks to sell Bhilai unit to UltraTech
Jaypee Group company Jaiprakash Associates is in talks with UltraTech Cement to sell its 2.2Mta cement plant in Bhilai, Chhattisgarh state, Business Standard report suggests. The Bhilai plant is a joint venture between Jaypee Group (74 per cent stake) and public sector Steel Authority of India (26 per cent). Sources say Ultratech will pay around INR2000 crore in a deal that would lift the co...
Holcim Indonesia seeks IDR2.5trn loans for refinancing
Holcim Indonesia is looking for IDR2.5trn (US$189.59m) in loans to refinance its maturing debts and wants to replace foreign-denominated debt to ease the currency burden, according to reports in the Jakara Post. Kent Carson, Holcim Indonesia CFO, aid that the company, expected to have a new loan facility in place in June, either in the form of syndication or a bilateral facility from a mix ...
Cementos Portland names non-executive president, Spain
Spanish cement maker Cementos Portland has appointed Alicia Alcocer Koplowitz as a non-executive president, the company said in a filing with stock market regulator CNMV. Alicia Alcocer Koplowitz is the daughter of Esther Koplowitz, the owner of Cementos Portland, and has been a vice president of the board of directors of the group so far. Her appointment was unanimously approved by the boar...
CMS Bhd 1Q pretax profit up 44%, Malaysia
Sarawak-based Cahya Mata Sarawak Bhd (CMSB) reported a 44 per cent rise in pretax profit for the first quarter of 2015 to MYR95.01m, driven by its Construction & Materials Trading, Cement and Construction & Road Maintenance divisions. The Cement division reported a pretax profit of MYR29.37m for 1Q15, exceeding the previous year (MYR20.44m) by 44 per cent. The Construction Materials & Tradi...
Lafarge and Holcim reorganise group functions
Lafarge and Holcim are each preparing the reorganisation of group functions in the context of their proposed merger. Holcim’s proposed new organisation would result in a net reduction of approximately 120 jobs in Holcim Group functions in Switzerland. The social consultation process to reduce the impact on roles that are affected by reductions will now be launched with the employee represent...
Weaker Brazil markets depress Cimpor's profits
Cimpor has reported a first quarter turnover 7.4 per cent higher at EUR636.6m but the EBITDA declined by 7.2 per cent to EUR123.4m. The trading profit (EBIT) was 17.6 per cent lower at EUR74m. The net financial charge declined by 18.9 per cent to EUR75.3m to give a pre-tax loss of EUR1.3m, compared with EUR3.1m a year earlier. At the net attributable level there was a loss of EUR17.2m, com...
PPC's first-half revenue lifted by higher Zimbabwe, Botswana and Rwanda volumes
PPC’s group cement sales volumes rose by five per cent above last year's figure, with strong demand growth in its African businesses offsetting lower demand in the core South African business. PPC’s revenue increased by nine per cent to ZAR4541m (2014: ZAR4157m) for the half year ended March 2015, on the back of increased volumes in Zimbabwe, Botswana and Rwanda, as well as the consolidat...
Kaspar EA Wenger is designated chairman of the Board of Holcim (Schweiz) AG
In the framework of the progressing merger between Holcim and Lafarge, Kaspar EA Wenger will become designated chairman of the Board of Holcim (Schweiz) AG, effective 30 June 2015, and hand over his responsibilities as Area Manager for Central Europe (Switzerland, South Germany, Italy). Mr Wenger has been part of the Holcim Group for more than 20 years, including over 10 years of operating ...
Jaiprakash gets shareholder go-ahead to sell to units to UltraTech
Jaiprakash Associates Ltd has received shareholder approval to sell two cement units in Madhya Pradesh to UltraTech Cement Ltd, the company said in a notice to the stock exchanges. In December, Jaiprakash Associates signed a deal with UltraTech Cement to sell its cement units in the central Indian state for INR54bn. The board of directors of UltraTech Cement and the Competition Commission...