Cement Industry News tagged under: Corporate
Moody's upgrades Eagle to Investment Grade
Moody's Investors Service upgraded the senior unsecured debt ratings of US-based Eagle Materials Inc to Baa3 from Ba1. The rating outlook is stable. The upgrade reflects Moody's view that Eagle Materials has the willingness and ability to defend its investment grade rating in a downt...
Holcim New Zealand posts full-year loss
Holcim New Zealand, reported a loss of NZD12.3m (US$8.9m) for 2016 from a profit of NZD80m in the previous year, as it transitioned from ceasing cement production from its Westport facility to becoming an importer, ...
Ube Industries increases stake in Tokyo Cement
Japan-based Ube Industries' Singapore subsidiary Ube Singapore Holdings has acquired a further 10.62m shares in Sri Lanka-based Tokyo Cement Company Lanka Plc, for LKR764.6m (US$5m), a stock exchange filling said. ...
Martin Marietta Materials to acquire Bluegrass
Martin Marietta Materials Inc and Bluegrass Materials Company announced that they have entered into a definitive agreement under which Martin Marietta will acquire aggregates company Bluegrass for US$1.625bn in cash....
LafargeHolcim appoints new Group Head of R&D
LafargeHolcim announces the appointment of Heike Faulhammer (50) as Group Head of Research & Development, effective July 1, 2017. Heike Faulhammer joins LafargeHolcim from Arkema, one of France’s leading chemicals...
Daehan acquired by South Korea's leading producer
Ssangyong Cement Industrial Co of South Korea has purchased Daehan Cement Co, the country’s largest blastfurnace slag cement producer at KRW265bn (US$232.8m). The acquisition will enable Ssangyong Cement to secure it...
Fauji Cement's damaged line will be operational in 1QFY18
According to market sources, Fauji Cement's (FCCL) damaged 7500tpd Line II is expected to be operational in 1QFY18. Similarly, construction of FCCL's 7.68MW waste heat recovery power plant is under way and likely to...
Lebanon: Chekka inaugurates new bag filter
Cimenterie Nationale has inaugurated the new bag filter at its Chekka plant. The new filter will reduce SOx and NOx emissions to 15mg/m3, well below the international norm of 50mg/m3. At the ceremony, which was at...
Cementos Molins President passes away
President of Cementos Molins, Casimiro Molins Ribot, passed away aged 97 on 25 June in Barcelona, Spain. He had been member of the company board of Sant Vicenç dels Horts for 71 years. In 1945 Mr Molins Ribot was ...
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 sai...
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...