Cement News tagged: Corporate
CRH 's development spend reaches almost €630m in 2012
In an update on its spending for the second half of the year, CRH said it had agreed 18 acquisition and investment initiatives of €375m. The transactions completed since the end of June bring full year 2012 development activity for the group to almost €630m. During the six month period, CRH said its Americas division agreed 12 deals worth a total of €256m. This included a majority stake in Ne...
IFC to loan Kerbala Cement US$70m for plant rehabilitation
The IFC, a member of the World Bank, is to provide a US$70m loan to Kerbala Cement Manufacturing (KCML) to rehabilitate its cement plant near the city of Kerbala. KCML, a subsidiary of the Lafarge group, will undertake the work under a concession agreement with the government of Iraq. The financing is expected to help bolster Iraq's construction sector, a key source of jobs, and support rebui...
Semen Gresik sets US$400m for 2013 capex
Indonesia’s largest cement producer PT Semen Gresik has set US$400m in capital expenditure for its corporate business activities, according to its president Dwi Soetjipto. "The expenditure will be used to carry out a number of corporate business activities such as continuing the company`s transformation into a holding firm, namely PT Semen Indonesia Tbk," Mr Soetjipto, told reporters. He ...
Concretus Materials to buy majority stake in Akmenes Cementas, Lithuania
Concretus Materials is to acquire a 51 per cent stake in Lithuania’s sole cement producer Akmenes Cementas. The company applied to the Lithuanian Competition Council on 27 December for approval of the deal. Cemex currently owns a 33.95 per cent stake while other shareholders include Simonas Vytis Anuzis (13.67 per cent share), Olius Danyla (13.55 per cent), Arnoldas Mituzas (12.76 per cent)...
SOCAM to exit Lafarge joint venture by 2015, China
SOCAM DEV announced that the shareholders of Lafarge Shui On Cement Ltd, in which it has a 45 per cent interest, have agreed on a plan to facilitate the exist of the group from this joint venture. It is expected that the agreed roadmap will enable an exit no later than 2015.
Holcim Indonesia agrees to higher royalty payout
PT Holcim Indonesia has increased the royalty to its parent company – a move that has surprised some analysts and caused the cement producer to plunge the most in four years in Jakarta trading. Holcim Indonesia slumped 17 per cent to IDR2900 on 28 December 2012, the steepest decline since October 2008 and the biggest drag on the benchmark Jakarta Composite Index, according to reports by Blo...
Promac ties up with Taiheiyo
Promac Engineering Industries Limited, the Bangalore-based heavy engineering company, has formed a joint venture with their technical collaborator and Japanese cement technology major Taiheiyo Engineering Corporation (TEC)
Cimpor, Camargo Correa transaction moves ahead
Cimpor has approved a swap of shares of its holding InterCement
Holcim reduces stake in Siam City Cement, sells minority shareholding in Cementos Progreso
Holcim has announced that it has reduced its stake in Siam City Cement Ltd (SCCC) of Thailand and has sold its minority shareholding in Guatemalan producer Cementos Progreso, contributing CHF375m (EUR310.6m) to the Holcim Leadership Journey programme. SCCC stake reduced Holcim Ltd has reduced its shareholding in SCCC from 36.8 per cent to 27.5 per cent. The shares have been purchased by ...
Al-Abbas Cement proposes name change, Pakistan
Pakistan cement manufacturer Al-Abbas Cement Industries Ltd (AACIL) is to change its name to Power Cement Limited, the company said in a filing to the Karachi Stock Exchange. The company’s board of directors agreed the name change at a board meeting on 18 December 2012 which is subject to approval by regulatory authorities and shareholders of the company. During the first quarter of the ...
Votorantim prepares IPO for next year - report
Brazil’s largest cement producer Votorantim Cimentos is preparing an initial public equity offering (IPO) of at least US$3bn, according to a report by Bloomberg citing three sources familiar with the matter. Votorantim Cimentos hired Banco Itau BBA SA and JPMorgan Chase & Co. (JPM) to manage the deal and will include additional banks, said the source. The IPO will take place sometime nex...
Bolivian government and cement companies agree to increase output
Bolivia’s government and local cement producers have agreed to raise cement production by 17 per cent next year, taking the current figure of 3Mta to 3.5Mta. Deputy Minister for Medium- and Large-Scale Industrial Production, Camilo Morales, said yesterday that the agreement was the result of his meeting on Monday with representatives of Soboce, Coboce and Fancesa as well as executives of th...
New appointments at Loesche India
Mr PC Abraham has been appointed Managing Director of Loesche India Pvt Ltd as of 1 October 2012. Mr Abraham joined Loesche India Pvt Ltd on 1 March 1995 and has been working as Executive Director of the Technical Department. Under his leadership Loesche India established a successful and competent Technical Field Service Department. Furthermore, Mr AC Goyal has been nominated as member of t...
Lafarge looking to sell stake in Indian operations?
Private equity funds are in talks to buy a minority stake in Lafarge India as the cement company taps new ways to fund its expansion, the Economic Times of India reports. Carlyle, KKR, Temasek and TPG Capital have begun preliminary talks with Lafarge India management, two sources close to the transaction said. Some of them have also signed non-disclosure agreements. Lafarge wants to shed up ...
Quinn and Lagan Cement propose merger
Ireland-based Quinn Building Products and the Lagan Cement Group have signed a memorandum of understanding that may lead to a merger of the two groups. The businesses, which will become part of the proposed joint venture, are the combined cement and building products businesses based in Ballyconnell, Derrylin, Kinnegad, Belfast, Cork in Ireland and Benelux. Quinn Therm, Quinn Litepac, Qui...
Deutsche Bank more positive on European building sector in 2013
Deutsche Bank expects cement stocks to be among the front runners in any cyclical recovery in 2013 and recommends "buying" HeidelbergCement, Buzzi Unicem and Lafarge as its top picks within the sector, according to reports by Bloomberg. The bank takes a more positive view on the European building materials sector saying it should benefit from a return to 3.5 per cent global GDP growth while ...