Cement News tagged: Corporate
CCI decision on Lafarge and Holcim merger due ‘within a month’
The Competition Commission of India (CCI) will soon decide on the proposed merger between Lafarge and Holcim, the Economic Times (India) cited CCI chairman, Ashok Chawla, as saying. "The final order on the case should be out within a month," Mr Chawla said. In December the cement producers said in India, both companies “are well on track” in preparing the merger with the future structure for ...
Egypt: Supreme Administrative Court suspends privatisation appeal
The Supreme Administrative Court has decided to halt proceedings looking into the appeal against the privatisation of Egypt-based Beni Suef Cement Company. The court has ordered that workers are reinstated to the company but has temporarily suspended looking into the privatisation appeal. The suspension is pending another court decision in a case questioning the constitutionality of a law i...
HeidelbergCement expects positive earnings impact on falling prices
HeidelbergCement AG expects the falling oil prices to have a positive effect on the company`s earnings in 2015, a company spokesperson told German weekly Euro am Sonntag. The low fuel prices will have a positive impact on the company’s energy costs, the spokesperson said. In November, the global cement major said its third-quarter operating income before depreciation (OIBD) increased by 10 p...
Yamama Cement Co fourth-quarter earnings down 14.61% YoY
Yamama Cement Co recorded a 14.61 per cent decline in net earnings in the fourth quarter of 2014 to SAR152m (US$40.5m), compared to SAR178m in the comparative period of the previous year. However, earnings were up 10.95 per cent compared to the SAR137m recorded in the 3Q14. Full-year profit also declined by 22.87 per cent YoY from SAR870m. Operating profit also fell 20.63 per cent to SAR658m,...
Fitch affirms Pacasmayo's ratings; outlook stable
Fitch Ratings has affirmed the following ratings for Cementos Pacasmayo SAA): • Foreign currency Issuer Default Rating (IDR) at 'BBB-'; • Local currency IDR at 'BBB-'; • Senior unsecured US$300m notes due 2023 at 'BBB-'. The Rating Outlook is Stable. Key rating's drivers Solid business position Fitch said the ratings reflects Pacasmayo's solid business position, as the only cement p...
Blackstone, CVC reportedly among bidders for Lafarge and Holcim assets
Groups led by Blackstone Group LP and CVC Capital Partners Ltd have submitted bids for assets put up for sale by Lafarge and Holcim, according to reports by Bloomberg citing people familiar with the matter. Blackstone teamed up with Cinven Ltd and Canada Pension Plan Investment Board, while CVC made a bid with Singapore’s sovereign-wealth fund GIC, the undisclosed sources said. CRH, the Dubl...
Cameroon: first raw materials arrive at Dangote’s Douala plant
Dangote Cement has received the first cargoes of raw materials for its new cement works at Douala, Cameroon. The delivery consists of clinker, gypsum and pozzolan, produced in the 27ha quarry in Tombel, in the south-west of the country. Dangote has an exploitation agreement for five years for the location. Over the past two weeks, the company has been carrying out equipment tests in the new ...
Johnston named PCA Government Affairs Vice President
Portland Cement Association named A Todd Johnston as vice president for government affairs, effective 19 January 2015. Based in the association's Washington office, he will represent PCA and its members with the federal government. Johnston comes to PCA with a strong record of experience and accomplishments in state government, industry, and in Congress, the association highlights. Most rec...
Cementir Holding plans rights issue, Italy
Cementir Holding is to ask it shareholders to approve a rights issue of up to EUR300m, the Italian cement major has said. The board is calling an extraordinary shareholders’ meeting on 23 February 2015 to mandate the board for the rights issue to be carried out in five years, in one or more tranches, with pre-emptive rights, Cementir said in a statement. “The purpose of this proposal is to i...
BBMG Corp issues profit warning, China
Chinese cement producer and property developer BBMG Corp said its 2014 net profit is expected to fall by up to 25 per cent from the year earlier, on weaker sales in the property market. The company did not give exact figures for its profit warnings, but said it posted a net profit of CNY3.2bn (US$523m) in 2013.
FLSmidth sells Cembrit Holding A/S
FLSmidth has signed an agreement with a company in the Solix Group AB to sell all shares in Cembrit Holding A/S, one of the leading distributors and manufacturers of fibre-cement products in Europe, for DKK1.1bn (EUR147.9m). The sale of Cembrit concludes FLSmidth's divestment of building materials companies, a process that started 10 years ago by the divestment of Aalborg Portland and Uni...
UltraTech to not bid for Lafarge/Holcim assets
UltraTech has pulled out of the race to buy cement assets up for sale as Lafarge and Holcim’s proposed merger, the Indian cement major confirmed to local press. An UltraTech spokesperson told ET Now that the company has not participated in the final round of bidding. The company had reportedly previously expressed an interest in buying assets in Brazil and Philippines and had placed a b...
Yanbu Cement 4Q net earnings up 20.63%
Saudi producer Yanbu Cement Co posted SAR193m (US$51.4m) net earnings for the fourth quarter of 2014, rising 20.63 per cent from SAR160m in 4Q13 and 18.4 per cent from SAR163m in 3Q14. However, full-year net earnings fell 2.31 per cent YoY from SAR821m to SAR802m. Earnings per share (EPS) decreased from SAR5.21 to SAR 5.09. The cement producer attributed fourth quarter profit growth to...
Thailand: TPI Polene bond issue
Thai-based cement producer TPI Polene says it will issue two tranches of THB6bn (US$182.5m) worth of debentures. Prachai Leophairatana, chief executive of TPI, said the first tranche would be a four-year debenture carrying a coupon rate of 4.85 per cent while the second tranche for five years carries a coupon rate of 5.20 per cent. Both tranches of debentures are senior unsecured debts...
Conch places new order with Claudius Peters, Myanmar
Conch has awarded Claudius Peters an order for the supply of an ETA cooler to be installed in Myanmar. This new order takes the total number of Claudius Peters ETA coolers ordered by Conch to 22. The new order will be Conch's first ETA cooler, installed outside of China.
Sançim Cimento acquired by Askale Çimento.
Turkish cement producer Sançim Cimento (Sançim) has been acquired by Askale Çimento, according to local news reports. The acquisition follows the recently aborted acquisition of Sancim by domestic cement major Cimsa, for EUR185.14m. The new owner of Sancim is a joint-venture of Sonmez Holding (43 per cent), Aunde Teknik (38 per cent), E.N.A. Tekstil (10 per cent) and Umut Insaat (nine per cent).