Cement News tagged under: USA
GCC reports 16% sales boost in 3Q results25 October 2017, Published under Cement NewsGrupo Cementos de Chihuahua announced its results for the third quarter of 2017, which reflect the successful integration of the operations acquired in Texas and New Mexico late last year as well as favourable pricing in the US and Mexico, and progress in implementing the company’s growth strategy. Total sales increased 15.9 per cent YoY to MXN4.968bn (US$258.8m) in 3Q17 from MXN4.288bn. The company’s 3Q EBITDA saw a similar rise to MXN1.421bn, up 14.2 per cent from MXN1.245bn. Margins sli... |
Summit Materials revealed as US$3.8bn bidder for Ash Grove Cement09 October 2017, Published under Cement NewsUS cement maker Summit Materials has been revealed as the US$3.8bn bidder for Ash Grove Cement, according to a Reuters' source. The bid was submitted last week to trump an earlier takeover bid from Irish building materials firm CRH Plc. Ash Grove said earlier on Friday that it had received a new bid from an unnamed party which valued the business at US$3.7-US$3.8bn . The source said Summit Materials’ bid was submitted on Thursday and is currently being considered by Ash Grove’s board... |
PCA updates US annual cement consumption forecast06 October 2017, Published under Cement NewsPortland Cement Association's (PCA) Market Intelligence Group has forecast annual cement consumption to climb in the USA by 2.6 per cent during 2017 and 2.8 per cent in 2018. The updated forecast adjusts downward PCA projections released earlier this year. Bad weather and lower than anticipated budgets for the public construction sector are among the factors that have prompted the adoption of a more modest growth outlook. "Once infrastructure and tax reform initiatives take hold and aff... |
Ash Grove Cement receives US$3.8bn takeover proposal06 October 2017, Published under Cement NewsCRH noted that an announcement by Ash Grove yesterday that the period for obtaining shareholder approval has been extended for its proposed acqusition. US cement maker Ash Grove Cement Co said on Thursday it received a larger takeover proposal valued at up to US$3.8bn, surpassing an earlier offer from Irish building materials firm CRH Plc. CRH said last month it agreed to buy Ash Grove for a total consideration of US$3.5bn. Ash Grove said the new bid valued at US$3.7-US$3.8bn was expected t... |
Summit Materials could be swept up in US consolidtion trend02 October 2017, Published under Cement NewsAs the cement sector continues to consolidate, the number of potential targets with values of more than US$1bn (EUR842m) will continue to fall and quite possibly, Summit Materials will see its position change from being an acquirer of companies - to being a target, reports the Sunday Independent. Follwing, CRH's recent move to acquire US company Ash Grove Cement for US$3.5bn and Martin Marietta's US$1.6bn (EUR1.3bn) payment for Bluegrass Materials, a leading aggregates company, investo... |
Votorantim Cimentos to sell stake in Suwannee American28 September 2017, Published under Cement NewsBrazil-based Votorantim Cimentos is to sell its 50 per cent stake in Suwannee American Cement (SAC), located in northern Florida, USA. The sale is part of Votorantim’s strategy of prioritising assets and reducing its debt. SAC supplies cement to the construction markets of Florida and southern Georgia from its 1Mta Branford plant. Although the plant was in the path of Hurricane Irma, it has remained largely unaffected, according to information obtained by ICR. Thanks to precautions ta... |
Lafarge's Ravena cement plant upgrade is completed22 September 2017, Published under Cement NewsThe ribbon has been cut on the completion of a three-year, multi-million dollar modernisation project to imporve the Lafarge (LafargeHolcim group) Ravena Cement plant in New York, USA. The cement from the Ravena facility supplies more than 1Mta of locally-produced product for high-profile projects in the Northeast, including One World Trade Center, the World Trade Center Memorial and Giants Stadium in East Rutherford, New Jersey. Throughout the upgrade project, the facility maintained... |
CRH agrees US$3.5bn acquisition of Ash Grove Cement21 September 2017, Published under Cement NewsCRH plc has reached an agreement to buy US-based Ash Grove Cement Co for US$3.5bn. The proposed transaction is subject to Ash Grove shareholder and regulatory approvals and will be financed through existing financial resources. The transaction is expected to close around year end 2017. Albert Manifold, Chief Executive of CRH, commented: “Ash Grove is an excellent addition to CRH’s portfolio of businesses across North America as we seek to deploy our capital into high quality businesses tha... |
Federated Investors sell shares in Summit Materials Inc18 September 2017, Published under Cement NewsFederated Investors Inc PA lowered its position in Summit Materials, Inc by 65.5 per cent in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,883 shares of the construction company's stock after selling 274,734 shares during the quarter. Federated Investors Inc PA owned approximately 0.14 per cent of Summit Materials worth US$4,183,000 at the end of the most recent reporting period, reports The... |
Monarch Cement sees 7% net profit rise in 2Q1714 September 2017, Published under Cement NewsThe Monarch Cement Co reported in a SEC filing a one per cent YoY increase in consolidated sales from US$45,105,834 to US$45,593,593 in 2Q17. Net profit rose by seven per cent to US$6,026,881 in 2Q17 from US$5,635,139. For the six months ended 30 June 2017, the company’s consolidated net sales reached US$76.835m, up 2.9 per cent from US$74.673m in 1H16. Monarch Cement primarily supplies cement to the markets of Kansas, Iowa, southeast Nebraska, western Missouri, northwest Arkansas and... |