Corporate
Pakistan FDI increases substantially
Pakistan's cement industry received US$6.3m in foreign direct investment (FDI) between the July 2012-March 2013 period, the country's Central Bank reported on 16 April. The amount is 294 per cent more than the corresponding period of the previous year (July 2011-March 2012), when FDI ...
Tangshan Jidong Cement net profit drops 88.19%, China
Tangshan Jidong Cement net profit drops 88.19 per cent, China Co Ltd net profit slumped 88.19 per cent, the company said in a statement. Operating revenue slid 7.09 per cent YoY to CNY14.61bn (US$2.36bn), with basic...
CRH names five representatives to Cementos Lemona board, Spain
CRH has named five representatives to the board of directors of Spanish cement producer Cementos Lemona. In February, CRH acquired Cementos Lemona in exchange for its 26.4 per cent stake in Cementos Portland Valderr...
Saudi Cement net profit rises on improved efficiency
Saudi Cement Company said net profit in the first quarter of 2013 rose 4.5 per cent YoY, attributed to an increase in output thanks to improved operating efficiency. Net profit for the three months ending 31 March...
Fitch affirms Siam City Cement rating, outlook Stable
Fitch Ratings (Thailand) Limited has affirmed Siam City Cement Public Company Limited's (SCCC) National Long-Term rating at 'A(tha)', its National Short-term rating at 'F1(tha)' and its senior unsecured debentures at...
Vinaconex plans to sell stake in Cam Pha Cement, Vietnam
Vietnam Construction and Import-Export JSC (Vinaconex), plans to sell a 70 per cent stake in Cam Pha Cement JSC as it continues with its plan to divest in non-core operations. Vinaconex is seeking shareholders app...
Improved outlook for Asia Cement Corp in 2013
Taiwanese producer Asia Cement Corp is expected to return to a path of growth this year driven in part by earnings growth from its operations on mainland China, a recent report by HSBC has said. Last year, Asia Ce...
Sinoma makes Indian acquisition
Sinoma International Engineering (Hong Kong) Co Ltd, part of China National Materials Group Corporation Ltd, has acquired a majority stake in India-based cement equipment manufacturer LNV Technology Pvt Ltd. Accor...
Tanga Cement annual sales reach record high, Tanzania
Tanga Cement said its cement sales last year crossed the 1Mt mark – the highest in the Tanzanian cement producer’s history. Sales at the company, which produces the Simba Cement brand, rose by 21 per cent to TZS25...
Moody's: West China Cement's medium-term notes issuance is credit positive
Moody's Investors Service says West China Cement's (WCC) issuance of medium-term notes (MTN) totalling CNY800m (US$129m) for three-years at 6.1 per cent is credit positive. The notes were issued on 28 March 2013 thr...
Votorantim Cimentos files request for IPO of shares
Brazilian cement and concrete producer Votorantim Cimentos SA has filed a request with regulators to list its shares in the local stock exchange to finance its expansion plans. In its preliminary prospectus, the c...
Yamama Cement 3Q net profit remains flat YoY
Saudi cement producer Yamama Cement Company said yesterday that according to preliminary results, its net profit stood at SAR277m (US$73.9m) for the first quarter of 2013, almost unchanged from SAR278m a year ago due...
Steppe Cement's quarter sales volumes slip 2%
Kazakhstan-based producer Steppe Cement reported a two per cent drop in sales volumes for the first three months of the year. In a recent trading statement, the company said it sold 166,121t of cement in 1Q13 comp...
Yanbu Cement 1Q13 net profit surges on expansion, Saudi Arabia
Yanbu Cement announced that, according to preliminary figures, its net profit for the first quarter of 2013 surged by 70 per cent YoY, on the back of increased capacity. Net profit for the three months to the end ...
German Federal Court confirms HeidelbergCement’s cartel fine
Germany’s Federal Court has confirmed the 2009 fine imposed on HeidelbergCement by the Higher Court of Düsseldorf at a reduced level of EUR161.4m, the German cement major said in a statement on Tuesday. “We have t...
Camargo Correa plans to raise capacity by 2016
Camargo Correa plans to invest up to BRL3bn (US$1.51bn) in the Brazilian cement sector in the next few years. With the acquisition and control of Portuguese cement maker Cimpor last year, Camargo Corrêa, through i...