Cement News tagged: Corporate
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).
CRH announces 2014 acquisition spend of EUR0.19bn
CRH announced a total 2014 acquisition and investment spend of EUR0.19bn, reflecting the completion of 21 transactions. On the divestment front, the group undertook 16 transactions and realised total disposal proceeds of EUR0.35bn. Commenting on these developments, Albert Manifold, CRH Chief Executive, said: “In August 2014 we announced a multi-year EUR1.5 billion to EUR2 billion divestment p...
Hope celebrates second anniversary with major investment
Hope Construction Materials is investing GBP14m (EUR17.9m) to boost production at its Hope Works cement plant in the Derbyshire Peak District, UK. The company, which yesterday celebrated its second year of cement production, has kicked off several major capital projects which will help improve the plant’s sustainability, improve the efficiency of the operation and help to secure future suppl...
Fitch Ratings revises China Shanshui Cement Outlook
Fitch Ratings has revised China Shanshui Cement Group Ltd's Outlook to Negative from Stable. Meanwhile, Shanshui's Long-Term Issuer Default Rating (IDR) and senior unsecured ratings have been affirmed at 'BB'. The Outlook revision reflects Shanshui's slower-than-expected deleveraging process, mainly driven by weaker cash flow generation due to the lower cement average sell price (ASP). "We e...
Paraguay: INC plans to raise capacity
Paraguay’s Industria Nacional de Cemento (INC) plans to increase its production capacity from 50,000 to 70,000 bags/day in 2015, according to Jorge Méndez, head of the company. This is expected to create a good supply to the market and lower prices by the end of the year. Although the company is forecast to have an accumulated deficit of nearly PYG1bn, due to successive years of losses, he ...
Puerto Rico: Cemex cement sales hit 55-year low
In 2014, Cemex cement sales in Puerto Rico fell 10.6 per cent YoY to 24,000t, according to Enrique García, president of Cemex Puerto Rico. The 55-year low has prompted the country’s largest cement producer to take action, including laying off 18 staff at its Ponce plant. "We are being proactive after a thorough analysis of the subject. The aim is to ensure the future of our company. In ...
Arabian Cement Co names chairman
Arabian Cement Co’s board of directors on Thursday approved the appointment of Abdullah Mohammed al-Eissa as board chairman, with a three year term effective 1 January 2015. In early December, the company elected a new board of directors. The other newly-elected board members are Ghassan al-Souleiman, Saud al-Souleiman, Adel al-Zaid, Ibrahim al-Rajhi, Ibrahim Aba al-Khail, Sami Baroum, Mu'taz...
Belarusian government to acquire additional shares
The Belarusian government will acquire additional stakes in three cement companies in exchange for helping them to repay loans to China’s EximBank. The Council of Ministers has issued a directive that provides for the restructuring of overdue debts to the bank incurred by Belarussian Cement Plant, Krychawtsementnashyfer and Krasnaselskbudmateryyaly as of 1 October 2014. The three cement p...
Holcim and Cemex close their series of transactions in Europe
Holcim and Cemex today announce the successful closure of their series of transactions in Europe. Holcim acquired Cemex’s operations in western Germany and The Netherlands while Cemex took over Holcim Czech Republic with all its subsidiaries in the country. In Spain, Cemex purchased Holcim’s Gador cement plant and Yeles grinding station, while Holcim keeps its remaining operations. As a r...
South Cement Co to issue 270-day bills
South Cement Co has announced that it will issue CNY750m (US$120.7m) unsecured super short-term bills with a maturity of 270 days on the interbank market on 6 January. The company, controlled by state-owned China National Building Material Co, said in a statement that the bills will be issued at the face value, and the coupon rate determined in the process of bookbuilding. Both value da...
Arabian Cement Co recommends SAR3.25 cash dividend
The management board of Arabian Cement Co (ACC) has recommended to shareholders a cash dividend of SAR3.25 (US$0.866) per share for the first half of 2014. The dividend translates into a total payout of SAR325m (US$133.5m). If approved, the dividend will be paid to shareholders registered at the close of business on 30 June. In mid-October 2014, ACC said its net profit rose 67.6 per cent YoY...
Kenya: Savannah Cement to build second grinding plant
Savannah Cement has announced plans to invest more than US$198.3m for the construction of its second milling plant near Kitengela town in Kajiado County. The high efficiency milling plant will feature a roller press mill, which allows for environmentally efficient cement production. Savannah Cement managing director Ronald Ndegwa said that the ground breaking plans for a clinker manufacturing...
China: BBMG acquires 60% stake in Hebei line
BBMG announced that the company held 60 per cent equity of Xingtai Yong Ning Cement through transference at a consideration of CNY245m (US$39.46m). Xingtai Yong Ning Cement owned two 2500tpd dry cement clinker production lines.
Conch Group unveils restructuring plan, China
State-owned Conch Group of China has unveiled a plan to streamline shareholdings within the company. The Anhui provincial government intends to convert its indirect controlling shareholding of Anhui Conch Cement Co and Wuhu Conch Profiles & Science Co into direct ownership, according to filings to the Hong Kong exchange on Monday. Morgan Stanley said this might be an early step for the ...