Cement News tagged under: Weekly Newsletter
TCL reports second-quarter results22 July 2015, Published under Cement NewsHaving successfully refinance its restructured debt, Trinidad Cement Ltd has been able to take advantage of the maximum discount that was negotiated with creditors in May 2015. Net of fees incurred for the new financing, the company was able to benefit from prepayment discounts of TTD194.2m, all of which has been reflected in its second quarter 2015 results released yesterday. The restructured debt agreement that was concluded in 1Q was refinanced in May 2015 using proceeds from a Bridge L... |
UltraTech first quarter profit falls 5.5%21 July 2015, Published under Cement NewsUltraTech Cement's first quarter standalone net profit fell 5.5 per cent YoY to INR591 crore. The Aditya Birla Group firm had posted net profit of INR628 crore in the year-ago period. Cement and clinker sales during the quarter ended 30 June 2015 climbed six per cent to 12.14Mt from 11.7Mt a year earlier. Energy costs improved by seven per cent but the reduction in fuel prices was partly offset by an increase in rail freight expenses. Input prices remained stable except for the rise i... |
Summit Materials completes acquisition of Lafarge North America assets21 July 2015, Published under Cement NewsUS-based construction materials company Summit Materials, Inc has completed its previously announced acquisition of a 1.2Mst cement plant in Davenport, Iowa along with seven cement distribution terminals from Lafarge North America Inc. unit for a purchase price of US$450m in cash, plus an exchange of Summit’s Bettendorf, Iowa cement distribution terminal, the company said on Monday. The newly-acquired cement operations are a complementary fit with Summit’s existing cement plant in Hannibal,... |
Spanish consumption rises 8.6% in 1H1517 July 2015, Published under Cement NewsCement consumption in Spain reached 5.6Mt in the first half of 2015, reflecting an 8.6 per cent increase YoY, according to the latest data from cement association Oficemen. In June demand increased 7.5 per cent YoY. By the end of this year, the domestic market is forecast to grow 10 per cent to 11.8Mt, according to Oficemen. However, despite the positive data, the cement association’s president, Isidro Miranda, and director general, Aniceto Zaragoza, have called the expansion “insufficien... |
Elementia raises MXN3.93bn with IPO, Mexico17 July 2015, Published under Cement NewsMexican construction holding Elementia raised MXN3.93bn (US$250.15m) with its initial public offering (IPO) on 9 July 2015. The company set an initial price of MXN17 per share and obtained resources 15 per cent below the estimated target of MXN 5.20bn. The maximum share price reached MXN18.50 which resulted in a net sum of MXN 3.77bn obtained, which will be invested in Fortaleza, the company's cement division. The resources will cover the expansion of production capacity at its Tula ... |
Morocco: cement demand falls 6.3% in June16 July 2015, Published under Cement NewsMoroccan cement consumption fell a further 6.3 per cent YoY to 1.16Mt in June following a similar decrease in May. This brings cement demand over the first six months of this year down 1.3 per cent to 7.3Mt, with the decline mainly attributed to a slow real estate market. Mohammed Chaïbi, president of Ciments du Maroc and the Moroccan cement association (APC), told L'Economiste that he expects the decline to continue going forward. Key factors that are likely to hold demand growth bac... |
German cement consumption expected to fall 1.6% in 201515 July 2015, Published under Cement NewsGerman cement consumption is expected to decline by 1.6 per cent YoY in 2105 to around 26.7Mt, as local cement producers no longer anticipate being able to compensate for lower market demand recorded in the first quarter of this year. The forecasts released by the German Cement Works Association VDZ yesterday show that due to subdued markets in April and May, volumes are unlikely to regain enough ground to make up for the slower performance so far in 2015. Lower level of industrial const... |
Sanghi inaugurates Kutch grinding plant, India13 July 2015, Published under Cement NewsSanghi Industries' new 1.2Mta grinding plant was inaugurated on Friday by Gujarat Chief Minister, Anandiben Patel, in the western Indian state's Kutch district. The new unit lifts Sanghi's cement production capacity from 2.9Mta to 4.1Mta. Ravi Sanghi, chairman and managing director, said during the ceremony: “Inauguration of the grinding unit by the Gujarat Chief Minister is a testimony to the fact that Sanghi Industries Ltd is considered as one of the leading corporate which has contribut... |
China: Hubei ETS compliance deadline postponed13 July 2015, Published under Cement NewsChinese cement firms under Hubei's carbon market will be forced to spend millions of yuan to meet targets as authorities rejected pleas for leniency, but they now have more time to do so after the postponement of Friday's deadline, Reuters reports citing traders. Initially the 138 companies covered by the Hubei scheme, a third of which are cement firms, were supposed to hand over permits by 31 May 2015. The deadline was extended to 10 July, but 27 companies had still not got enough permits ... |
LH merger: final results of public exchange offer10 July 2015, Published under Cement NewsFrance's Financial Market Authority published the final results of the public exchange offer initiated by Holcim Ltd for the shares of Lafarge SA. Following the settlement-delivery of the offer expected to occur on 10 July 2015, Holcim Ltd will hold 252,230,673 Lafarge SA shares representing 87.46 per cent of the share capital and at least 83.94 per cent of the voting rights of Lafarge SA based on the total number of shares outstanding as of 8 July 2015. In accordance with the AMF general ... |