Cement News tagged under: Kazakhstan

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Fitch affirms Central Asia Cement rating revises Outlook upward, Kazakhstan

17 December 2012, Published under Cement News

Fitch Ratings has affirmed Central Asia Cement's (CAC) National Long-Term Rating at 'BB-(kaz)' and revised the joint stock company's Outlook to Positive from Stable. The agency has also affirmed CAC's senior unsecured KZT1.5bn bond rating at 'B(kaz)'. "The completion of Steppe Cement's capital increae reinforces CAC's financial structure and should allow financing of the investment in the Line 5 refurbishment, while reducing leverage," Fitch said in a statement, adding: "The group is sti...

Steppe Cement's share offer oversubscribed

03 December 2012, Published under Cement News

Kazakhstan-based cement producer Steppe Cement has announced that last month's offer for qualifying shareholders of 40m new shares in at 25p per share has been oversubscribed. Around 83 per cent of existing shareholders participated in the offer which resulted in an oversubscription of 34 per cent. The directors will scale back applications in accordance with the basis of allocation. The admission and dealing of the new shares will begin on AIM around the beginning of next week. The...

Steppe Cement to raise GBP10m Via Underwritten Offer

07 November 2012, Published under Cement News

Steppe Cement said Wednesday it intends to raise GBP10m (EUR12.5m) via an offer for subscription of 40 million new ordinary shares at 25 pence per share. Net proceeds of the offer are expected to be up to GBP9.67m after expenses and will be used toward the completion of the reconstruction of Dry Line 5, for general working capital requirements and, if required, to repay a portion of the company's short-term bank borrowings. The offer price represents a discount of 6.1% to the closing mid...

Fitch assigns Central Asia Cement 'BB-(kaz)' rating

29 October 2012, Published under Cement News

Fitch Ratings has assigned Central Asia Cement (CAC) a National Long-Term Rating of 'BB-(kaz)' with a Stable Outlook. The agency has also assigned the prospective 2.5 billion tenge notes to be issued by the company and guaranteed by its parent company Steppe Cement Ltd and by the affiliated company Karcement an expected rating of 'B(kaz)(EXP)'. The final rating is contingent on the receipt of final documents conforming to information already received. "The rating reflects CAC's solid c...

Steppe Cement CEO raises stake in the company, Kazakhstan

17 October 2012, Published under Cement News

Javier Del Ser, the CEO of Steppe Cement, increased his stake in the firm on Tuesday with the purchase of 650,000 ordinary shares at a price of 25p per share, according to reports by ShareCast. Following the GBP162,500 transaction, Del Ser holds 12,867,660 ordinary shares in the company, equal to 7.19 per cent of the total issued share capital, Steppe is a leading cement producer in Kazakhstan. Its cement production facilities consist of four wet kilns and one dry process kiln. Del Ser...

Steppe 3Q12 revenue increases, revises Kazakhstan demand outlook upwards

16 October 2012, Published under Cement News

Kazakhstan-based producer Steppe Cement Ltd said 3Q12 revenue of KZT7.23bn (US$48m) was 28 per cent higher than the corresponding quarter in 2011 and has revised the demand outlook for the Kazakhstan market upwards for full year 2012. For the nine months ended 30 Setptember, Steppe Cement recorded revenue of KZT14.96bn compared with KZT11.93bn in the corresponding nine month period in 2011, representing a 25 per cent improvement. Sales of 518,433t were achieved during the third quarter...

Steppe Cement posts first half loss, Kazakhstan

11 September 2012, Published under Cement News

Kazakhstan-based cement producer Steppe Cement Ltd posted a consolidated loss after tax of US$0.1m for the six months ended 30 June 2012. Revenue six months ended June 30 were US$52.16m (2011: $43.06m) while pretax profit was US$391,000 (2011 loss: US$2.84m). The company’s sales volumes increased by two per cent to 615,838t and the average sales price increased from USD72/t to USD86/t during the period.   Production costs per tonne increased by 11 per cent in US dollar terms. The hike was...

Steppe Cement first-half sales edge ahead, Kazakhstan

16 July 2012, Published under Cement News

Kazakhstan-based cement producer Steppe Cement has reported a rise in cement sales for the first half of 2012 and sees domestic demand increasing by low double-digits for the full year. For the six months to June 2012, Steppe Cement sold 615,838t, a rise of two per cent compared to the same period of last year. Sales revenue during the period rose 23 per cent to KZT7728m (US51m). The average price for the current period for delivered cement, exculding VAT, was KZT12,549/t (US$84) compa...

Steppe Cement sees continued improvement in Kazakhstan market

09 May 2012, Published under Cement News

Kazakhstan-based cement producer Steppe Cement said that in 2011, sales continued to improve on the back of the cement market recovery which commenced in the second half of 2009. I n line with both price and volume increases of 24% and 7% respectively, the company posted net profit of US$3.3m with a higher capacity utilisation rate of 80%. During the year, cement price increases coupled with operational efficiencies more than offset the rising cost of fuel, transportation and especially...

Steppe Cement sales fall, Kazakhstan

17 April 2012, Published under Cement News

Kazakhstan-based Steppe Cement said Tuesday that in the first quarter ended March 31 it sold 170,080t  of cement for KZT1,953m, compared with 187,404t for KZT1722m in the first quarter of 2011, a fall of nine per cent and an increase of 13 per cent, respectively. The company noted that total first-quarter 2012 domestic consumption in Kazakhstan increased nine per cent YoY. The average cement price in the current quarter for delivered cement was KZT11,483/t (ex VAT) compared with KZT918...