Cement News tagged: Corporate
UltraTech's acquisition of Century Cement to be completed soon
India’s UltraTech Cement has confirmed that it will complete the merger of Century Cement in the second quarter of the FY19-20. The only pending approval which remains for the deal is the transfer of mining leases, which is expected to be completed soon, according to Kumar Mangalam Birla, chairman of the company. "After the completion of the Century Cement transaction, coupled with the on-goi...
Cementos Pacasmayo announces 12% revenue increase
Peru’s Cementos Pacasmayo has announced a 11.9 per cent YoY increase in revenue during the 2Q19, mainly attributed to an 11.8 per cent rise in the sales volume of cement, concrete and precast. Net income advanced 37 per cent to PEN32.2m (US$9.8m), while its consolidated EBITDA climbed 11.3 per cent YoY to PEN94.3m. However, the cement EBITDA margin dropped from 30.3 per cent to 29.2 per cent ...
CDPQ to invest additional CAD150m in Ciment McInnis
Caisse de dépôt et placement du Québec (CDPQ) will invest a further CAD150m (US$115m) to Ciment McInnis, despite evaluating a possible divestment in the cement maker over the past year. A consortium of 11 Canadian and international banks has also extended a CAD300m loan to the company and Beaudier Inc has invested a further CAD50m. “The context has changed because the cement plant has a very...
Titan completes successful share exchange tender for Euronext and Athens listings
Titan Cement Co SA has announced the successful voluntary share exchange tender offer submitted by Titan Cement International SA to the shareholders of Titan Cement SA. The tender acceptance rate of 90 per cent was exceeded with 93 per cent acceptance rate for the ordinary shares and 92.3 per cent for the preference shares. Titan Group will be listed through Titan Cement International SA on E...
Government extends deadline for Cimerwa stake
The Government of Rwanda has moved the deadline to sell its stake in Cimerwa from 5 to 19 July, with the extension providing a chance for more individual investors and companies to submit a proposal, according to the Rwanda Development Board. The government and its affiliates hold a 49 per cent stake in the company, while South Africa’s PPC is the majority shareholder at 51 per cent. The Rwa...
WCA appoints vice president
The World Cement Association (WCA) has appointed Mohammed A Al-Garni as its vice president. Mr Al-Garni is the CEO of Saudi Cement Co and board member of WCA. "It is a great honour to be chosen as the new Vice President of the World Cement Association and I am really excited to participate in helping it grow further, supporting the association in its role as the voice of the cement industry g...
Oman Cement Co reports 52% fall in profit
Oman Cement Co has reported a 52 per cent YoY fall in profit after tax for its 1H19 unaudited results, decreasing to OMR2.3m (US$6m) from OMR4.8m of the year-ago period. The first six months of 2019 saw total revenue at the company remain flat at OMR26.3m.
Siberian Cement sees 2% rise in production for 1H19
Russia’s Siberian Cement has announced that its enterprises produced over 1.455Mt of cement in the first six months of 2019, an increase of two per cent YoY. Its subsidiaries have also reported their results for the January-June 2019 period. Topkinsky Cement produced 1Mt (up four per cent YoY), Krasnoyarsky Cement produced 288,900t (down 11 per cent) and Timlyuy Cement manufactured 164,500t ...
Holcim Azerbaijan reports 9% revenue increase in 2018
Holcim Azerbaijan has reported that its revenue increased 8.7 per cent YoY to AZN116.3m (US$68.57m) in 2018. After deducting transportation, administrative and sale expenses, the company’s operating income reached AZN20.369m, which is a 28.4 per cent rise compared to 2017. The pretax profit surged by almost four times to AZN11.471m, according to Regional Finances. Net profit amounted to AZN...
CRH divests its European Distribution business for EUR1.64bn
CRH has agreed the divestment of its European Distribution business to private equity funds managed by Blackstone for an enterprise value of EUR1.64bn in cash, subject to regulatory approval. The divested business unit consists of CRH's entire general builders merchants business in Europe, including its sanitary heating and plumbing business that serve professional builders, contractors and D...
Raysut Cement Co sees revenue fall 5% in 1H19
Oman’s Raysut Cement Co has announced its unaudited consolidated results for the first six months of 2019. The company has seen a 5.1 per cent YoY decline in revenue to OMR41.7m (US$108.5m), compared with OMR43.94m in the 1H18. Profit before tax fell 58.1 per cent to OMR517,398 from OMR1.23m. Profit after tax decreased 27.1 per cent to OMR511,871 against OMR701,732 in the year-ago period.
LafargeHolcim acquires Romanian precast concrete company
LafargeHolcim has signed an agreement with ORESA to acquire Somaco, a Romanian precast concrete producer. Somaco has leading positions and operates five precast concrete plants and one plant for aerated blocks in Romania. Jan Jenisch, CEO of LafargeHolcim: "This is our sixth bolt-on acquisition this year and we are delivering on our commitment to further develop our Solutions and Products bus...
Kenya's Savannah Cement plans KES5bn grinding plant in major expansion plan
Savannah Cement is currently undertaken a KES5bn expansion of its grinding plant at Kitengela, Kenya, according to the company’s MD, Ronald Ndegwa. The project sees the construction of a 1.2Mta grinding unit, which will double the company’s current installed capacity. Central to the plant will be an energy-efficient vertical grinding mill, supplied by FLSmidth. The new facility is expected...
Floods sweep away Huaxin plant under construction
Floods have swept away the Huaxin Cement Industry plant under construction in Benighat Rorang Rural Municipality-2, Talti, Nepal, on the night of Sunday, 14 July, according to Khabarhub. The cement factory was swept away after the level of water in the river in Talti surged due to incessant rains continuing for three days, said Tulasi Jung Thapa, a spokesperson. No human casualties have ...
Asia Cement launches 25kg bags
Asia Cement has started the production of cement in 25kg bags, according to Esmerk Russian News. The smaller pack size is suitable for small construction works and minor repairs. Bags are made from multilayer microcreped paper with a density of 80gm/m 2 .
Ambuja Cement to support cement activities with RMC and aggregate acquisitions
LafargeHolcim-owned Ambuja Cement is looking to acquire capacity in ready-mix concrete (RMC) and aggregates business to fuel growth, according to The Business Standard, citing a company official. Analysts see the move as a step towards being a building materials company and not solely a cement maker. “Globally, cement giants have looked at developing a building materials image and not just as...