Cement News tagged: Corporate

LafargeHolcim appoints Alessandra Girolami as Head of Investor Relations

01 July 2016, Published under Cement News

As of 1 September 2016, Alessandra Girolami will be LafargeHolcim's new Head of Investor Relations. She will report to Group CFO, Ron Wirahadiraksa, and succeeds Michel Gerber. She was previously employed by Carrefour Group as Head of Financial Communications and Investor Relations.

Cemex IPO values Philippines subsidiary at US$536m

30 June 2016, Published under Cement News

Cemex has today announced that it will price shares in its subsidiary, Cemex Holding Philippines, at PHP10.75 (US$0.23), valuing the operation at around US$536m. Reuters News quotes Eduardo Francisco, president of underwriter BDO Capital & Investment Corp as stating: “That's good so there will be more upside and to ensure more demand post-listing”. Mr Francisco added that the offering wa...

HeidelbergCement Georgia reports record sales

30 June 2016, Published under Cement News

For the year 2015 HeidelbergCement Georgia experienced record sales, with 1.63Mt of cement and clinker sold. These sales figures were up 19 per cent on the previous year’s result. With this growth in sales the company holds a 60 per cent share in the Georgian cement market.  Director of Construction Materials, David Jugashvili said, “The recent economic changes and devaluation of the nation...

Sagar Cements acquires grinding unit from Toshali Cements

01 July 2016, Published under Cement News

Sagar Cements announced the acquisition of a grinding unit owned by M/s Toshali Cements Pvt Ltd for INR600m (USD8.88m). The assets consist of one grinding unit located at Bayyavaram, Vizag district, Andhra Pradesh with a capacity of 181,500tpa. Post acquisition, the company proposes to invest INR60m (US$0.89m) to increase the capacity of unit to 300,000tpa. The acquisition will enable the...

China: BBMG sells stakes to Jidong Cement

China: BBMG sells stakes to Jidong Cement

30 June 2016, Published under Cement News

Chinese building materials supplier, BBMG Corp has plans to sell its stakes in 31 cement-related companies to Jidong Cement. The stakes on offer are valued at CNY15.5bn (US$2.3bn). Tangshan Jidong Cement Co Ltd will eventually become a part of BBMG as part of an overall company restructuring. This move comes as the Chinese government tries to get rid of smaller or inefficient players in sec...

Pakistan: DG Khan Cement about to power up

30 June 2016, Published under Cement News

The 30MW coal-fired captive power plant of DG Khan Cement Co (DGKCC) at its Dera Ghazi Khan is scheduled to start up in the next week, according to market sources. The power plant was supplied by China-based Sinoma Energy Conservation and will enable the cement producer to achieve cost savings in terms of power supply as well as reduce its dependency on the national grid.

Russia: Verkhnebakanskiy Cement BoD appointments

Russia: Verkhnebakanskiy Cement BoD appointments

30 June 2016, Published under Cement News

The Board of Directors of Verkhnebakanskiy Cement Works held a meeting on 27 June 2016 to appoint new member to the board. Lev Kvetnoy has been appointed as Chairperson and Igor Veremiy as Secretary of the Board of Directors.

West China Cement shares drop by one third in single day’s trading

29 June 2016, Published under Cement News

Hong Kong-listed West China Cement (WCC) has seen its shares fall by 32.7 per cent in a single day, wiping US$350m off the value of the company, Bloomberg reports. At one point, the company’s shares were trading 46 per cent down on their opening value, before recovering slightly to close at HKD1.07 (US$0.14). In May West China Cement reached an agreement with Anhui Conch that would see t...

Indonesia: new plant for PT Semen Indonesia

29 June 2016, Published under Cement News

PT Semen Indonesia has plans to invest between IDR4trn (US$303m) and IDR5trn (US$380m)in a new plant in Aceh, according to Corporate Secretary, Agung Wiharto. The company established a new entity on 22 April in cooperation with local company PT Samana Citra Agung, forming PT Semen Indonesia Aceh. This new entity will become the operator of the plant. Samana Citra is the majority owner of Se...

New Zealand: Cape Foulwind closure

29 June 2016, Published under Cement News

Holcim has ceased operations at its Cape Foulwind cement plant in New Zealand following a three-year closure process. The company chose to start importing cement rather than manufacturing locally. National Director of Industries, Ged O’Connell said the plant closure is a worrying development for the West Coast, where many have lost jobs due to economic conditions. “In recent years we've s...

Georgia: construction on 1.5Mta Senaki works started

28 June 2016, Published under Cement News

Construction on a 1.5Mta cement plant in Senaki, Shmegrelo region in western Georgia, has started. The project is an investment of US$120m by Black Sea Cement LLC, a partnership between Georgian businessman Cezar Chocheli and China’s Hualing Group. "This is a very good example of partnership between Georgia and China," Georgian Prime Minister Georgy Kvirokashvili said at the groundbreaking ...

South Africa: PPC lines up banks for rights issue

28 June 2016, Published under Cement News

South African’s largest producer, PPC, has announced that it has come to an agreement with four banks to underwrite its proposed ZAR4bn (US$260m) rights issue, Reuters Africa reports. The Standard Bank of South Africa Limited, Nedbank Limited, Absa Bank Limited and FirstRand Bank have been appointed to oversee the offer process, with Standard Bank also taking the role of global co-ordinator...

Cemex stock falls over Brexit fears

28 June 2016, Published under Cement News

Cemex saw a further day of losses at the Mexican Stock Exchange (BMV). Since Friday, its shares have fallen 14.74 per cent following the announcement of the UK’s departure from the EU. On Monday, shares fell 5.6 per cent to close at a price of MXN10.61 (US$0.56)/share. The fall is attributed to the potential impact of Brexit on the company’s UK operations following the surprise result of th...

CRH reported to carry out due diligence on HeidelbergCement's US assets

01 July 2016, Published under Cement News

Ireland-based building materials giant CRH is reportedly among bidders for the US assets put up for sale by HeidelbergCement to appease competition authorities over its Italcementi acquisition. CRH and US company Summit Materials are among bidders chosen to carry out due diligence for US$600m of US assets, according to Bloomberg. In April CRH’s CEO Albert Manifold had already indicated t...

Cemex celebrates Panama Canal expansion inauguration

28 June 2016, Published under Cement News

As the Panama Canal expansion was successfully inaugurated on Sunday, Cemex celebrated along with other suppliers and local dignitaries. The company supplied close to 1Mt of specially-developed cement for the project.  “CEMEX congratulates the Government, the Panama Canal Authorities, and especially the Panamanian people for the key role they played in this iconic project, which will change...

South Korea: Sungshin shares down

27 June 2016, Published under Cement News

South Korean company Sungshin Cement has been ranked in the bottom quartile of BSS News Bites South Korean performers for the past year. The company’s performance saw it placed 1519/1756 in the ranking, a percentile ranking of 13. Sungshin shares were also down 35.3 per cent for the year ended 27 June 2016. After climbing from KRW2920 (US$2.47) five years ago to KRW15,300 (US$12.95) one yea...