Cement News tagged under: Weekly Newsletter
Cemex completes refinancing of its 2012 facilities agreement04 August 2015, Published under Cement NewsCemex announced yesterday that it has fully repaid the total amount outstanding of approximately US$1.94bn under the facilities agreement dated 17 September 2012, as amended from time to time, with new funds from 17 financial institutions. These lenders have joined the credit agreement dated 29 September 2014, as amended (the Credit Agreement) under new tranches, allowing Cemex to increase the average life of its syndicated bank debt to approximately four years. Other financial institutions ... |
Holcim's profits hurt by the strength of the Swiss currency30 July 2015, Published under Cement NewsHolcim's cement deliveries declined by two per cent to 67.6Mt in the first six months, and the underlying advance was 2.1 per cent. Shipments of aggregates rose by 3.4 per cent to 72Mt and ready-mixed concrete deliveries improved by 0.6 per cent to 18.2Mm³ but declined by three per cent on an underlying basis, while asphalt sales rose by 13.8 per cent to 4.6Mt. Turnover declined by 3.4 per cent to CHF8646m, but rose by 11.9 per cent in euro terms to EUR8182m, while on a comparative basis ... |
Nigeria: BUA's 3Mta Obu plant to start operations30 July 2015, Published under Cement NewsBUA Group is about to release cement from its newly-built US$600m Obu plant in Okpella, Edo State, with clinker production already operational. Cement should be dispatch from the 3Mta facility in the first week of August. The plant was supplied by FLSmidth and the civil construction was handled by construction firm, Julius Berger. BUA Group chairman/CEO, Abdulsamad Rabiu, said the company's three-year journey in constructing the world-class plant would give a much needed boost to Nigeria's ... |
Zambia has potential for Dangote Cement30 July 2015, Published under Cement NewsDangote Group of companies has continued its expansion plans in the cement industry with another plant target in Lusaka. Dangote will officially launch its Masaiti cement plant project on 4 August. The official commissioning will be attended by owner Aliko Dangote and the Nigerian vice president. However, the company still sees further potential in this market and The Zambia Development Agency (ZDA) has disclosed that Dangote will build another plant in the Chongwe area to expand its fas... |
China: Shanshui Cement turn down share disposal offer30 July 2015, Published under Cement NewsShanshui Cement's chairman and general manager, Zhang Bin, has told the press that in response to the possible acquisition of company shares from CNBM and Asia Cement China, company shareholders have decided to decline the proposed disposal of shares. China Tianrui became the substantial shareholder of Shanshui Cement in April and proposed a change in the number of members in the board of directors. Afterwards, Asia Cement China and CNBM sent a letter and proposed for the entire acquisiti... |
LafargeHolcim 2H15 roadmap released29 July 2015, Published under Cement NewsLafargeHolcim has announced its roadmap for the second half of 2015 as it releases half-year results for Lafarge SA as well as Holcim Ltd, the predecessor company of LafargeHolcim Ltd. Eric Olsen, CEO of LafargeHolcim, says: “We continue to operate in a demanding global market environment and this has affected our first-half performance. However, as a new company we have hit the ground running. A team of 200 senior leaders of LafargeHolcim met as early as last week to align on priorities, t... |
Philippines: cement sales rise 11% in 1H1529 July 2015, Published under Cement NewsCement sales rose steeply in the first six months of the year behind robust construction activities in the country, the Cement Manufacturers Association of the Philippines (CeMAP) said. CeMAP president, Ernesto Ordoñez, stated total cement sales rose 11.1 per cent to 11.91Mt in the first half of the year from 10.72Mt in the same period in 2014. Ordoñez said construction activity remained strong in the first semester, fuelled primarily by the growing business confidence in the country.... |
China Shanshui shareholders mull takeover bid22 July 2015, Published under Cement NewsChina Shanshui Cement Group Ltd said two of its largest shareholders are considering a takeover bid, Bloomberg reports. Asia Cement Corp of Taiwan and China National Building Material Co, which together own about 38 per cent of Shanshui Cement, are considering a general cash offer to acquire the shares they don’t already control, the companies said in a statement to Hong Kong’s exchange Tuesday. The proposal by Asia Cement and China National Building Material escalates the fight for contr... |
AI takes ownership of Lafarge Cement assets22 July 2015, Published under Cement NewsAggregate Industries, part of the LafargeHolcim group, is the newest entrant to the cement production market in the UK, having taken ownership of the Cauldon and Cookstown cement plants in the UK. The acquisition of these two plants, along with a quarry at Cauldon Low and a cement terminal at Belfast Docks, was finalised on Monday and involved the transfer of 250 employees from the existing operations to Aggregate Industries. Becoming a cement producer and supplier is the final piece in ... |
Aboitiz Equity to invest in Philippine venture22 July 2015, Published under Cement NewsAboitiz Equity Ventures Inc said it will invest PHP24bn (US$531m) in the cement business after formalising a deal with Irish cement maker CRH Plc to buy the Philippine assets of Lafarge SA, Reuters reports. In May, Aboitiz said it was looking to partner with CRH to buy Lafarge's assets in the Philippines as the local power-to-banking conglomerate sought to diversify into infrastructure. The Philippine units form part of a package of assets that CRH is acquiring from Lafarge and Holcim ... |