Cement News tagged: Corporate
Cementos Molins buys Cemex’ Sant Feliu works
Cementos Molins has reached an agreement with Cemex to buy the latter’s Sant Feliu de Llobregat cement plant near Barcelona. The Sant Feliu works has been out of action for months due to the downturn in the Spanish cement market. However, for now, Cementos Molins does not expect the reactivation of the plant any time soon. The main interest for the plant stems from its market, which will e...
Holcim to sell its operations in New Caledonia
Holcim will sell its operations in New Caledonia (Holcim Nouvelle Calédonie SA) to Tokuyama Corporation of Japan for an undisclosed amount. Holcim Nouvelle Calédonie SA, which runs a 200,000tpa grinding plant, has always been “slightly isolated from the rest of the group’s assets,” the company said in statement, making this divestment a strategically viable solution. Tokuyama will acquire ...
Indonesia's largest cement producer records 14.7% sales increase
PT Semen Indonesia (Persero) recorded a 14.7 per cent increase in cement sales last year, exceeding the country's average increase of 14.5 per cent and representing a 44 per cent market share. Semen Indonesia is the country's largest cement producer with production units in Gresik, West Sumatra and South Sulawesi, Indonesian news agency ANTARA reported. Rudi Hartono, head of Semen Indone...
India: HeidelbergCement gets shareholders nod to raise up to INR20bn
HeidelbergCement said its shareholders have accorded approval for raising funds up to INR20bn (US$340m) through borrowings. The shareholders had approved the proposal at its annual general meeting that took place on 16 May, HeidelbergCement said in a BSE filing. Shareholders have delegated to Board the authority "for borrowing from time to time, as it may think fit, any sum or sums of mone...
South African firm stakes NGN45.7bn on Dangote Cement
Public Investment Corporation of South Africa (PIC) Monday bought 255,607,605 shares or 1.5 per cent of Dangote Cement Plc for NGN45.75bn (US$0.29bn) from Dangote Industries. PIC is owned 100 per cent by South African government and it has funds valued at US$115bn under its management. Although no explanation was given by Dangote Cement regarding the acquisition, PIC is now holding 1.5 per ...
USA: KapStone Paper to buy Longview Fibre for US$1.03bn
KapStone Paper and Packaging Corp said on Monday it struck a deal to buy Longview Fibre Paper and Packaging Inc for US$1.03bn in cash, in a move to bulk up its production of containerboard used in making cardboard boxes. KapStone Chairman and Chief Executive, Roger W Stone, said the acquisition will immediately increase the company’s earnings and generate strong cash flow. He added that the f...
Holcim reduces capital in Spain by 75%
The challenging state of the Spanish cement market has prompted Holcim to reduce its capital in Spain by 75 per cent or EUR568m. The capital reduction will be carried out by reducing the nominal value of shares, is the direct consequence of the losses registered by the Switzerland-based company in the past few financial years. ??At the start of the year, Holcim announced the closure of its ...
Votorantim elects Akermann to Board
Votorantim Cimentos elected Markus Akermann, former president of the Switzerland-based Holcim, to its board of directors. Akermann was CEO of Holcim between 2002 and 2012 after serving in a number of areas of the cement producer in Latin America. He is expected to hold the director’s mandate until 2015.
JPMorgan sells 2.65m shares in Conch Cement
JPMorgan Chase & Co sold 2.65 million shares in Anhui Conch Cement Co Ltd for a total of HKD70.2m (US$9m), according to the Hong Kong Stock Exchange. After the sales, JPMorgan still holds 218.54 million shares (a 16.82 per cent stake) in the Hong Kong-listed cement producer, China Business Newswire reports. The sale was completed on 29 May 2013.
Semen Baturaja announces IPO, Indonesia
Indonesian state-run cement maker Semen Baturaja plans to raise up to IDR1.6trn (US$163m) from an initial public offering next month to finance expansion as its existing production base nears maximum utilisation levels. State Enterprises Ministry's deputy head of restructuring and strategic planning, Wahyu Hidayat, that the indicative share prices of between IDR500-685 has been approved, acc...
Lafarge Malayan Cement changes name to Lafarge Malaysia Bhd
Lafarge Malayan Cement Bhd has been changed to Lafarge Malaysia Bhd, Bursa Malaysia Bhd announced yesterday. Bursa said the new stock short name for the company is LAFMSIA. The company's shares will be traded and quoted under the new name, with effect from 31 May 2013, it said.
Xinjiang Tianshan Cement Co to issue CNY500m notes
Xinjiang Tianshan Cement Co, based in China's Xinjiang Uygur Autonomous Region said on Thursday that it would float CNY500m (US$4m) in unsecured notes with a maturity of three years on June 6, 2013. According to the company, it would use CNY250m of the proceeds to boost working capital and the remaining CNY250m to repay bank loans. By the end of September 2012, the company's undue bank loans ...
Lucky Cement joint venture prepares to break ground on new DR Congo plant
Nyumba Ya Akiba (NYA), a joint venture between Pakistan-based Lucky Cement and the Rawji Group of the Democratic Republic of Congo, is set to break ground on a new 1.2Mta integrated works at the end of next month. The new facility, to be situated 250km from the DR Congo capital on the main Kinshasa-Matadi Highway, will host a groundbreaking ceremony on 30 June 2013, a Lucky Cement spokesperso...
Votorantim Cimentos unveils terms of IPO, Brazil
Brazil’s leading cement producer, Votorantim Cimentos, has announced terms of its initial public offering (IPO) to fund further expansion, acquisitions and improvements in efficiency. In a preliminary prospectus, the company expects to sell 400 million units, with each unit expected to price between BRL16 (US$7.80) and BRL19. Each unit consists of one common share and two preferred shares. ...
Cement demand in Belgium falls 2.2% while imports rise
Cement demand in Belgium declined 2.2 per cent to 6.41Mt but this decrease was well below the European average decline of 18.8 per cent, according to Belgian cement association Febelcem. Febelcem attributes the figure to local elections, which historically boost public works. The non-residential sector also expanded by three per cent thanks to a numbmer of large projects in Mechelen, Ghent ...
China Resources Cement in talks with Fujian Cement over joint venture
Two leading China-based cement producers, China Resources Cement and Fujian Cement, are reported to be in discussions to set up a joint venture grinding plant as well as a sales and marketing company, according to reports by local press. No agreement has been confirmed yet. China Resources Cement is also in discussions with Fujian Energy Group Company Ltd regarding cooperation with Fujian Bu...