Cement News tagged under: Secil
CRH06 December 2012, Published under Cement NewsCRH's turnover for the first nine months of the year improved by around 4% to some €14,000m, with the EBITDA being broadly in line with the €1,200m achieved at this stage last year. For the full year, the group is expecting an EBITDA in the region of €1,600m compared with the €1,656m achieved last year and depreciation and amortisation charges to be in line with the €764m charged last year. With disposal gains in the year to date of €183m, these are likely to exceed €200m this year compared... |
Secil plans to build second cement plant in Angola06 December 2012, Published under Cement NewsPortuguese group Secil plans to build a second cement plant in Angola in order to increase production from 280,000tpa to 1.8 Mta, the managing director of Secil Lobito, Augusto Miragaia, said in Lobito. The managing director said that the current needs of the Angolan market, which stand at between 4Mta and 5Mta of cement, justify construction of another plant, which is a project that the company has had in mind for a few years. Augusto Miragaia also told Portuguese news agency Lusa that... |
CRH: June '1206 July 2012, Published under Cement NewsCRH completed its disposal of its 49 per cent stake in Secil in mid-May and has received EUR564.5m in cash. Given the difficult economic environment in Portugal, where the vast majority of Secil's assets are located, the short-term impact of this forced sale under the arbitration agreement should be seen as positive. |
CRH transfers Secil shares to Semapa, Portugal16 May 2012, Published under Cement NewsCRH has transferred its 49% shareholding in Secil, the Portuguese cement producer, to Semapa, its former joint venture partner, the Irish-based building materials company said in a statement. The transfer is pursuant to a call option exercised by Semapa and confirmed by an award issued by an Arbitral Tribunal in Paris, functioning under the Rules of Arbitration of the International Chamber of Commerce (ICC), at a valuation of €574m. The net proceeds received by CRH amount to €564.5m and re... |
CRH03 May 2012, Published under Cement NewsCRH has to sell of its 49% stale in the Portuguese cement producer Secil as Semapa has decided to exercise its option to purchase CRH's holding in accordance with last year's arbitration award. The sale is to take place on the 15 May and includes Secil's interests in Tunisia, the Lebanon and Angola. |
CRH: Semapa intends to acquire CRH's 49% in Secil26 April 2012, Published under Cement NewsCRH reported that Portuguese conglomerate Semapa will acquire the company’s stake in their cement and ready mixed concrete joint venture Secil next month. In August last year an Arbitral Tribunal in Paris, functioning under the Rules of Arbitration of the International Chamber of Commerce (ICC), decided that CRH and Semapa were obliged to complete the sale and purchase of CRH’s 49% shareholding in Secil at an equity price of EUR574m. In accordance with this ruling, Semapa has notified ... |
CRH05 April 2012, Published under Cement NewsCRH's annual report shows cement sales of 15.3Mt for last year, made by subsidiaries and associates in Europe and Asia. This amount includes CRH's share of Secil in Portugal, which an arbitration court has ruled CRH must sell to majority shareholder Semapa. However, negotiations between CRH and Semapa appear still to be on-going. |
Semapa announces Brazil investments19 March 2012, Published under Cement NewsSemapa, a Portuguese holding company that controls cement maker Secil, will invest about EUR300m (US$394m) in Brazil’s cement industry, Diario Economico reported, citing the prospectus of Semapa’s bond sale. Semapa will invest about EUR240m in a new plant in Brazil after it agreed to buy a 50 per cent stake in Supremo Cimento SA, the Portuguese newspaper said, citing the document for the planned sale of as much as EUR150m of Semapa bonds. (Source: Bloomberg) |