Cement News tagged under: Russia

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Russia: CNBM to buy shares in Eurocement

27 June 2016, Published under Cement News

China National Building Materials Group Corporation (CNBM) plans to become a shareholder of Russian cement producer Eurocement Group, the latter company said in a statement Monday. The companies signed an agreement on cooperation in production of construction materials. “The Chinese corporation plans to enter the shareholder equity of Eurocement Group in order to implement the investment projects we have announced,” the Russian company said. The companies agreed to upgrade Eurocement’s ...

Eurocement eyes Denmark and Britain markets

16 June 2016, Published under Cement News

“Contracts in Denmark and Britain are forthcoming,” according to Eurocement’s CEO, Mikhail Skorokhod, as the company expands its global reach. Since the end of 2016, the Russian cement producer has been exporting increasing volumes to Finland and the Baltic states. “In Finland our share has already reached five per cent  of the market, and in our view, that is a very good result," he said in an interview with PwC. “The devaluation of the ruble creates opportunities to expand exports.” ...

Mongolia explores export to Russia

03 June 2016, Published under Cement News

With Mongolia’s cement production on the rise, the country may start exporting its surplus to countries such as Russia. National producers are currently studying the possibilities, according to local news reports. Demand in the country has risen with growing housing and infrastructure requirements. Mongolia’s cement production currently meets about 90 per cent of the domestic demand, which in 2013 reached 2Mt. With a capacity of 1.9Mta in 2013, the country has been importing cement to ful...

Russia: Spassktsement net profit falls to RUB365.25m in 2015

23 May 2016, Published under Cement News

Net profit of Spassktsement OAO fell to RUB365.25m (US$5.45m) in 2015, a drop from RUB1.05bn over the same period in 2014, the company reported. Revenue increased in the accounting period by 0.71 per cent to RUB6.04bn from RUB6bn over 2014. The costs of goods sold grew by 10.79 per cent to RUB3.2bn from RUB2.88bn. Meanwhile, profit from sales fell by 29.49 per cent to RUB921.22m from RUB1.31bn.

Russia: new cement plant for Dagestan

16 May 2016, Published under Cement News

Azerbaijani investors will build a 1.8Mta cement works, Dagestan Cement Plant, and a 30ha Trade and Logistics Centre between Makhachkala and Kaspiysk, according to Ramadan Abdulatipov, head of the Republic of Dagestan of the Russian Federation following his visit to Baku. The Dagestan coast of the Caspian Sea is earmarked as an area for high-quality tourist infrastructure and Azerbaijani investors have been invited to help construct tourist, recreational and therapeutic complexes, hotels a...

Russia: Ninth PetroCem conference gets underway

26 April 2016, Published under Cement News

The ninth PetroCem Conference and Exhibition opened its doors on Monday when Russia's cement industry and more than 500 international delegates met for discussions in St Petersburg for the first of a two-day meeting. Journal Cement editor and conference organiser, Mila German opened proceedings and was pleased to see how the event had grown since the first PertoCem conference in 2000. While the Russian cement sector is facing somewhat of a crisis, Mila German said, "the cement sector i...

The BRICs come under pressure

08 April 2016, Published under Cement News

While the cement world has been concentrating on the slowdown in China and the large-scale mergers in India's cement sector, there has been little notice to the plight of other BRIC countries that are underperforming and are not attracting the investment that had previously put them at the top of the growth chart.
 The Economist Intelligence Unit this week observed that: "It has been clear for some time that the BRICs has had its day. While China and India have largely lived up to the grou...

Russia: LSR Group appoints members to the board at its AGM

06 April 2016, Published under Cement News

LSR Group has elected its new Board of Directors, consisting of nine members. The new board will now consist of: Aleksandr Vakhmistrov, Olga Sheikina, Evgeny Yatsyshin, Dmitri Gontcharov, Vasily Kostritsa, Andrey Molchanov and the three independent directors - Aleksey Makhnev,Vitaly Podolsky and Alexander Prisyazhnyuk. The AGCM also approved the annual report of OJSC LSR Group for 2015, prepared in accordance with FFMS requirements and annual financial statements 2015 (RAS) and decided to p...

Sberbank and Eurocement agree debt restructuring deal

16 March 2016, Published under Cement News

Russia's leading cement producer, Eurocement group, and Sberbank CIB have agreed on conditions for restructuring the company’s loan portfolio. The deal envisages pushing back loan repayments worth RUB42bn (US$597.8m) and US$360m by up to six years and optimisation of interest rates. The conditions for restructuring the debt portfolio will enable Eurocement group to take a more flexible approach to financing its operational activities and help it achieve strategic goals. "Sberbank C...

Russia’s Sberbank reportedly selling LafargeHolcim stake

04 February 2016, Published under Cement News

Sberbank, Russia’s largest lender, is selling a stake in Swiss cement business LafargeHolcim Ltd valued at about CHF1.5bn (about US$1.5bn), Bloomberg reported late Wednesday, citing a termsheet. UBS Group AG is sole bookrunner on the sale of 37.2m shares, the terms showed. Sberbank acquired a 6.12 per cent stake in LafargeHolcim in January from Eurocement Holding AG as part of a repurchase agreement, making the Russian lender the third-largest stakeholder. Sberbank and Eurocement signed a ...