Cement News tagged: Corporate
Baring Asia in talks with Lafarge India for minority stake
Private equity firm Baring Asia is said to be in advanced talks with Lafarge India to invest about US$240m for a minority stake, according to reports by Reuters. The deal is likely to be announced soon, two sources with direct knowledge of the deal told Reuters. Lafarge is raising capacity of its Indian arm to fund the expansion, according to one of the sources. Local press say that the stake...
Cementos Yura opts for another Loesche mill, Peru
Peruvian cement producer Cementos Yura has placed an order with Loesche America Inc for a clinker/additives grinding plant to installed at its Arequipa plant, Peru. Based on good and long-term experience with an existing Loesche Mill Type LM 56.2+2 C/S, Yura has once again selected this type of vertical roller mill to be installed at the plant, which is situated 2600m above sea level. The mil...
Oman Cement Company's net profit boosted by higher demand
Oman Cement Company (OCC) achieved a 34.89 per cent advance in net profit as growth in government spending for infrastructure projects drives cement demand. The Sultanate's second-largest cement producer said net income rose to OMR6.94m (US$18m) for the first quarter of 2013. Sales revenue also rose 12.07 per cent to OMR15.65m from OMR13.96m a year earlier. Production soared by 17.24 per ...
BBMG Corporation to acquire stake in Hebei Taihang Xuaxin, China
BBMG Corporation has entered into an agreement to acquire a 66.67 per cent stake in Hebei Taihang Xuaxin Building Materials Co from BBMG Group Company Ltd. The transaction is valued at CNY131.88m (US$21.15m) in cash and will be paid by BBMG to BBMG Group Company within 15 days after the date of the equity transfer agreement.
Cementos Pacasmayo 1Q13 cement sales rise 6.5 per cent
Peruvian cement producer Cementos Pacasmayo reported a sales increase of 6.5 per cent in the first quarter of 2013. Net income rose 13 per cent in the first quarter to PEN45.1m compared to PEN39.9m (US$17m) in the same period of last year. Cement EBITDA rose by 15.1 per cent in the three months to the end of March 2013 reaching PEN84.5mm compared to PEN73.4m in 1Q12. Consolidated adjusted EBI...
Lipetskcement increases first-quarter output, Russia
Lipetskcement, part of the Eurocement Group, reported a 25 per cent increase in production during the first quarter of 2013, the company announced in a statement. The company produced 164,000t of cement in the three months to the end of March 2013, with the production of CEM 1 32.5 N being six times higher than the first quarter of 2012. The production of bagged cement in 1Q13 rose by 36 per...
Cemex first quarter sales fall 8% in 1Q13
Cemex' first quarter turnover declined by 5.3 per cent to US$3318.6m, while the EBITDA came off by 8.1 per cent to US$521.1m. Volumes were ahead in the USA and in the Philippines, but declined in most other markets. The trading profit was off by just 0.5 per cent to US$239.1m. The net interest charge increased by 9.7 per cent to US$360.7m, giving an underlying pre-tax loss 33.3 per cent hig...
GCC posts quarterly first quarter net loss, Mexico
Mexican cement producer Grupo Cementos de Chihuahua (GCC) posted a net loss of MXN98.6m (US$8.1m) in 1Q13 down from MXN109m in the same period of last year. Unfavourable winter weather conditions in the US, the firm's largest market, and the peso appreciation against the US dollar negatively impacted the 1Q13 top line, with sales decreasing to MXN1.44bn from MXN1.5bn a year earlier. Operati...
South Cement to issue CNY1.5bn bills, China
South Cement has said it plans to issue CNY1.5bn (US$243m) in short-term bills with a maturity of 365 days in the interbank market on 2 May 2013 to repay bank loans and replenish the company's working capital. The bills will be issued at face value and the coupon rate determined in the process of book building, the company said in a statement. Both value and payment due date is set on 3 May ...
InterCement sells 52 per cent in Portuguese C+PA to Votorantim
Brazilian producer InterCement has sold a 52 per cent stake in Portuguese cement and building materials maker C+PA to Votorantim. Portuguese construction group Teixeira Duarte still controls 48 per cent in C+PA, , according to Portuguese daily Diario Economico. InterCement, part of Brazilian diversified holding group Camargo Correa, indirectly controls the stake in C+PA via Portuguese cem...
Cemex Latin American Holdings has a weaker first quarter
Cemex Latin American Holdings reported a 2.5 per cent decline in first quarter turnover to US$383.3m, but the EBITDA did improve by 8.1 per cent to US$140.7m. The increase at the trading level was a more modest 1.9 per cent to US$117.5m. After a net interest charge of US$29.4m, the pre-tax profit emerged at US$83.2m. Net debt at the end of March amounted to US$1514m, giving a gearin...
Lafarge sells Ukraine cement plant to CRH
Lafarge is to sell its cement activities in Ukraine to CRH plc for an enterprise value of EUR96m. Lafarge, through its subsidiary Mykolaivtsement, operates a 1.3Mta integrated wet-process works at Mikolaiv in western Ukraine, near Lviv and has a domestic market share of around 12 per cent. The transaction, which is expected to close before year-end, is subject to relevant Ukrainian author...
Vicat advances in Asia and Americas
Vicat's first quarter turnover was ahead by 1.2 per cent to EUR491m, which represents an underlying improvement of 2.7 per cent. Cement turnover was up by 1.8 per cent to EUR304m, with cement shipments advancing by eight per cent to 4.1Mt. Turnover in concrete and aggregates rose by 6.7 per cent to EUR181m as aggregates shipments rose by 10.1 per cent to 4.73Mt and ready-mixed concrete deli...
Dangote Cement net profit boosted by increased capacity
Dangote Cement Plc, Nigeria’s largest cement producer said full-year profit gained 24 per cent attributed to increased capacity improving sales. Net income for the year through December advanced to NGN149.6bn (US$941.8m) from NGN120.9bn earlier, the company said in an e-mailed statement. Revenue rose 24 per cent to NGN298.5bn. Chairman Aliko Dangote, said new capacity accounted for a 20 pe...
Siam Cement Group to lift capacity by 4.5Mta in two years
Siam Cement Group plans to spend US$1.5bn to expand cement production capacity in Southeast Asia by 4.5Mta over the next two years. President and chief executive of Siam Cement Kan Trakhulhoon told the Bangkok Post that the US$400m cement plant in Indonesia is already under construction with Phase 1 expected to come on-stream by 2015. Meanwhile, the Myanmar cement factory is still awaiting ...
Steppe Cement’s full-year profit rises on increased sales and prices
Kazakhstan-based cement producer Steppe Cement Ltd on Wednesday confirmed that pretax profit more than doubled in the year ended 2012 thanks to sales that were up by almost 10 per cent YoY and higher prices. Group revenue rose to US$120.17m for the year compared to US$96.11m in 2011 while pretax profit was US$12.04m compared to US$5.55m the year before. Cement sales increased by 9.8 per c...