Cement News tagged: Corporate
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...
Cimpor first-quarter boosted by new profile
Cimpor has reported a 22 per cent rise in turnover and a 15.2 per cent YoY increase in EBITDA for the first quarter of 2013 mainly due to the reshuffling of the group's profile. The performance of the new set of assets recently brought in by InterCement resulted in a contribution to consolidated EBITDA that was four times higher than that of the assets handed over by Cimpor in the asset swap c...
Holcim Philippines to tap debt market
Holcim Philippines is considering the debt market to fund its new US$450-550m cement plant in Norzagaray, Bulacan, the company's chief has said. Speaking to local press, Eduardo Sahagun, president and CEO, said that part of the funds to construct a 2.5Mta plant will come from internally generated income while the bulk will come from the debt market, most likely from local sources. The compa...
San Miguel Corp outlines expansion plans, Philippines
Industrial conglomerate San Miguel Corp (SMC) will spend US$750m to increase production and expand Northern Cement Corp's (NCC) exisiting capacity and construct new facilities. According to SMC company’s president, Ramon S Ang, some US$250m will be used to increase capacity of NCC’s Pangasinan plant, while another US$250m will be used to build a new plant in Southern Luzon. The remaining $2...
Gharibwal Cement sees strong rise in quarterly profit, Pakistan
Pakistan-based cement producer Gharibwal Cement Ltd reported a net profit of the company was PKR178m compared to PKR32.5m for the same period last year, thanks to an increase in sales volumes, net retention prices and cost control. Net sales of the company during the period were PKR1.77bn (US$18m) compared to PKR1.5bn during the same period of last year. Gross profit was PKR338m compared to...
OCC confirms imported cement quality probe, Oman
Oman Cement Company (OCC) has confirmed that the country's Public Authority for Consumer Protection (PACP) has initiated an investigation on the quality of 30,000t of cement imported by the sultanate's second-largest producer. In a filing to the Muscat Securities Market (MSM) on Wednesday, the company said that a team from the PACP visited its premises to inspect the cement it imported and ...
Holcim Apasco to be renamed
Holcim Apasco is to be renamed Holcim México in order to unify the "brand and strengthen its presence as a global leader in the Mexican market," Holcim Latinoamérica's CEO Andreas Leu was quoted as saying by local publication El Universo. Holcim Apasco is Mexcio's second largest cement company with seven plants and a 12.6Mta capacity including the new 1.6Mta Hermosillo works in Sonora, nort...