Cement News tagged: Corporate
Dalmia to acquire Jaiprakash Bokaro stake
Jaiprakash Associates Ltd (JAL) is to sell its 74 per cent stake in its Bokaro Cement joint venture to Dalmia Cement (Bharat). Bokaro Cement is a 74:26 per cent collaboration between JAL and the Steel Authority of India (SAIL). The acquisition involves a 2.1Mt cement unit at Bokaro situated in the eastern Indian state of Jharkhand. The joint venture has a 30-year clinker supply arrangemen...
Cemex announces offering of senior secured notes
Cemex announced today that Cemex Finance LLC (the Issuer), an indirect wholly-owned subsidiary of Cemex España, intends to offer senior secured notes in one or more series denominated in euros, subject to market and other conditions. Contemporaneous with the offering of the euro notes, the Issuer also may offer senior secured notes in one or more series denominated in US dollars, subject to ...
Semen Baturaja to distribute dividend, Indonesia
Semen Baturaja will distribute a IDR78.04 dividend, or 25 per cent of last year’s net profit of IDR312.18bn (US$27.4m) Pamudji Raharjo, president director of the publicly-listed company, said the government will have a share of IDR59.5bn (or 76.24 per cent of the dividend) and the investing public will have around IDR18.5bn). The remaining part of the net profit will be used as a reserve fun...
China Tianrui Group Cement full-year net profit slides
China Tianrui Group Cement Co Ltd said its 2013 profit attributable to shareholders declined more than 28 per cent to CNY558.9m (US$90.17m) from CNY783.4m the year before. Basic earnings per share slid to O.23 from CNY0.33. Pretax profit fell 29 per cent to CNY729.3m. However, revenue rose more than 14 per cent to CNY8.66bn.
Israel: CRH mulls disposal of Nesher cement stake
CRH Group is considering the sale of its 25 per cent stake in Mashav, the holding company for Nesher cement, Israel, which the Irish group acquired in 2001, reports The Sunday Independent. Newly arrived CEO, Albert Manifold, is carrying out a comprehensive review of the company’s businesses and has so far identified 45 that will be put up for sale. In a recent Annual Report filed in the US, C...
Nepal: shareholders eagerly await Padma payments
Shareholders in Padma Cement, which is currently in the process of being liquidated, have expressed concern following the news that the liquidator's office will pay out dues of lenders first. The DSE managing director, Dr Swapan Kumar Bala, said the liquidators will first have to pay any debts owed to lenders. "As owners of the company, the shareholders will get something after paying out...
Shanshui Cement announces 2013 gross profits of US$617.7m
During the 12-months ended 31 December 2013, China Shanshui Cement Group Ltd’s revenue reached CNY16,535m (US$2667.85m). Gross profit was CNY3829m while profit from operations reached CNY2557m. Profit attributable to equity shareholders of the company was CNY1017m. Basic earnings per share reached CNY0.36. The Board recommended the payment of a final dividend of HKD0.092/share (US$0.01/share)...
PT Semen Indonesia agrees loan for new plant
Cement producer PT Semen Indonesia has secured a non-cash loan of IDR1.4trn (US$122.57m) from PT Bank Mandiri, said Ahyanizzaman, the company's finance director. The firm will use the facility to build a works worth IDR3.7trn ($323.92m) with a capacity of 3Mta in Rembang, Central Java, according Kontan Online.
Paraguay: INC back in profit, says company president
Paraguay’s Industria Nacional del Cemento (INC) is yielding profits again, according to its president Jorge Méndez Cuevas, although the company remains US$60m in debt. “INC’s average monthly losses totalled nearly PYG4.5bn (US$1.017m). From September 2013, we started to yield positive results. That month posted a net profit of PYG1.43m, in October PYG955m, in November PYG1.03bn, in December...
Colombia’s Argos invests in new Cartagena distribution centre
Cementos Argos will be investing US$35.2m in a new distribution centre in Cartagena, announced the company’s president Jorge Mario Velasquez at the shareholders’ meeting. The new distribution centre will increase the company’s dispatch capacity to 1.3Mta of bagged cement and 1Mta of bulk cement. The investment will primarily benefit the company’s logistics in the north of the country.
Bolivian cement project hits gas supply issue
Bolivian cement producer Sociedad Boliviana de Cemento (Soboce) said that investments in the sector have been stalled by the lack of energy to build new plants. Soboce planned to invest around US$160m in a new 0.8Mta cement works in the municipality of Port Suárez, Yacuses, but the lack of gas supply, which was to be delivered by state-owned Yacimientos Petroliferos Fiscales Bolivianos (YPF...
SCG maintains revenue forecasts, demand to remain subdued
Siam Cement Group (SCG) of Thailand is maintaining its 10 per cent revenue growth forecast for this year, despite delays to the government’s THB2trn infrastructure plan. President and chief executive Kan Trakulhoon told the Bangkok Post that SCG’s 2014 revenue expectations do not take into account projects under the huge plan. The company has instead focused on the expansion of Bangkok’s subw...
West China Cement profit edges ahead
West China Cement reported a 3.6 per cent YoY rise in pre-tax profit to CNY475.08m (US$76.4m) for the year ending 31 December 2013, compared to CNY458.58m a year ago. Net income attributable to shareholders rose to CNY378.32m from CNY364.88m. Earnings per share were on a par with last year at CNY0.883. Revenue increased by 18.3 per cent to CNY4.17bn from CNY3.52bn in 2012. Cement sales v...
Lafarge WAPCO pretax profit jumps
Lafarge's WAPCO announced on Thursday that its 2013 full-year pretax profit rose 30.3 per cent to NGN27.7bn (US$168.3m). The Nigerian unit of the French cement major also said revenue jumped to NGN98.79bn from NGN87.76bn the previous year.
Egypt: South Valley to invest in expansion, coal usage
South Valley Cement is due to sign a contract for a five-year long-term loan agreement worth EGP1.2bn (US$172.4m) from the Arab African Bank to increase production capacity and utilise coal. Ahmed El Miqaty, member of the board of directors, revealed that the company will spend EGP600m on expanding its factory and investing in new technology to increase capacity, according to AlMal Newspaper....
Peruvian domestic dispatches stable
Cement dispatches in Peru edged up 0.14 per cent in Jan-Feb 2014 to 1,639,454t when compared with the equivalent period of the previous year, according to Peru’s cement association, Asocem. However, producers saw a 25.3 per cent YoY drop in exports, which reached 32,569t. Cement production in the country’s cement plants fell 1.2 per cent to 1,657,696t when compared with Jan-Feb 2013.