Cement Industry News tagged under: Corporate
Taiwan plans to lower cement cap on exports
The government of Taiwan plans to lower the cap on Taiwan's cement exports from over 20 per cent of total output to 15 per cent to help protect the environment, Vice Minister of Economic Affairs Yang Wei-fuu has said. In response to concerns that the pursuit of aggressive cement expo...
S&P puts Cemex ratings on Watch Positive
S&P Global Ratings has placed its 'BB-' global scale and 'mxA-/mxA-2' national scale ratings on Cemex on CreditWatch with positive implications. The recovery rating on all Cemex's rated senior debt remains at '3', wh...
Yamama agrees raising credit facility limit
Yamama Cement announced that it has agreed with the National Commercial Bank (NCB) and Samba Financial Group to raise its sharia-compliant credit facility limit from SAR1bn to SAR3.6bn (US$266.6m to US$960m). The m...
Trinetra minority shareholders challenge merger plan
Minority shareholders of Trinetra Cements, a subsidiary of India Cements, have approached India's National Company Law Appellate Tribunal (NCLAT), to challenge the planned merger of the two companies, Business Standa...
Buzzi Unicem strengthens position in Italy
Buzzi Unicem is expanding its position in northen Italy with the acquisition of Cementizillo SpA. A total of 47.9 per cent of Cementizillo’s share capital has just been acquired and the remaining 52.1 per cent will b...
CTLGroup appoints new CFO
CTLGroup has announced the appointment of David Mizwicki as Vice President and Chief Financial Officer. Mr Mizwicki will assume the responsibility for financial management, business performance and leadership of fina...
Vulcan raises US$700m in public offering of senior unsecured notes
Vulcan Materials Company has raised US$700m in a public offering of senior unsecured 4.50 per cent notes due 2047. The notes bear an interest rate of 4.5 per cent per annum, payable semi-annually on 15 June and 1...
Eagle Materials chairman to retire from board
Eagle Materials Inc announced that Laurence E Hirsch, chairman, informed he has decided to retire from the board. Richard R Stewart, currently vice chairman of Eagle Material, will succeed Hirsch as chairman.
Chad: President Idriss Déby opens CIMAF plant
Chad’s President, Idriss Déby Itno, inaugurated on Monday the new Lamadji cement plant just north of the capital, N’Djaména. The works marks the cooperation between the country and Morocco’s CIMAF and represents a...
Loma Negra board to consider equity offering
Cimpor announced that the board of directors of its subsidiary, Loma Negra (Argentina) has called for an Extraordinary General Meeting (EGM) to consider the necessary moves required for it to pursue an equity offerin...
Semen Indonesia Jan-May sales up 10%
PT Semen Indonesia has recorded a 10 per cent increase in sales over the January-May 2017 period despite tough competition and a slower-than-expected uptake in infrastructure projects. "Sales in the period from J...
Birla Corp reports strong 4QFY16-17
Cost efficiencies and good price realisations helped India-based Birla Corp post strong results in the final quarter of FY16-17. Revenue increased by six per cent YoY during the quarter driven by price realisation ...
Lafarge Africa shareholders approve rights issue
Shareholders of Lafarge Africa Plc on Wednesday approved a proposal to raise NGN140bn (US$442m) in new capital for the cement group, local media have reported. The new capital raising will be undertaken through a ...
Cemex to boost investment in Egypt
Cemex plans to boost its investments in Egypt, according to Cemex Egypt’s President, Ramon Piza. The company, which owns a 5.5Mta plant at Assiut, plans to invest US$20m in the country this year, Piza said following...
Cal & Cemento Sur doubles capacity
Grupo Gloria has announced that the expansion of the Cal & Cemento Sur plant in Caracoto-Juliaca, Puno in southern Peru is in full swing. The project will double the current 1000tpd capacity following a US$80m inv...
PPC revenue growth supported by rest of Africa cement business
PPC reported that group revenues for the year ending March 2017 rose by five per cent to ZAR9641m (US$750m). The growth was supported by the rest of Africa cement business where revenues rose by nine per cent, and th...