Cement News tagged under: Weekly Newsletter
Fitch upgrades TCL's IDRs to 'B-'; Outlook Stable01 July 2015, Published under Cement NewsFitch Ratings has upgraded the Foreign and Local currency Issuer Default Ratings (IDRs) of Trinidad Cement Ltd (TCL) to 'B-' from 'D' and assigned an expected rating to the company's proposed senior secured term loan of 'B-(EXP)/RR4'. The rating Outlook is Stable The upgrade reflects the restructuring steps TCL has taken under the increased ownership, support and strategic guidance from Cemex (Cemex; 'B+'/Stable Outlook) following the default on its bank loans in September 2014. Fitch exp... |
Saudi clinker production declines30 June 2015, Published under Cement NewsClinker output in Saudi declined by 12 per cent YoY in May 2015 in producers deliberately attempt to shore up cement prices, claims a report by NCB Capital. Stockpiles had built up partly as a result of decrees by the late King Abdullah to ensure the country did not run out of supplies. In April 2013, the king also set aside US$800m for the import of volumes and construction of kilns to boost supplies. However, new regulations introduced later in the year to reduce the number of illegal for... |
Vietnam expected first-half output up 10.5%30 June 2015, Published under Cement NewsVietnam is estimated to have produced 32.1Mt of cement in the first half of this year, up 10.5 per cent from a year ago, the government-run General Statistics Office said. In June alone, production totalled 6Mt, up 26.8 per cent YoY. In the first five months, Vietnam has churned out 26.1Mt of cement, compared to the earlier estimated 26.6Mt, according to the office’s revised figure. Vietnam currently has 74 cement production lines with a combined annual output of 77Mt, data from the Minis... |
Arabian Cement commissions latest AF equipment30 June 2015, Published under Cement NewsArabian Cement Company (ACC) has completed its latest addition to its alternative fuel processing equipment at its plant in the Suez governorate, as part of the Egyptian cement producer's shift towards diversifying its sources of energy. The HotDisc® combustion device by FLSmidth (Denmark) has been commissioned at ACC Ramliya's plant. The installation is part of ACC's strategy to substitute 100 per cent of its current energy sources with a mix of solid and alternative fuels by the end of 2Q... |
Colombia: market expands 2.7% in May 201529 June 2015, Published under Cement NewsCement dispatches in Colombia increased 2.7 per cent YoY to 1.062Mt, according to the country’s statistics office, DANE. The increase is primarily the result of an 8.7 per cent rise in the construction and contractors segment, which expanded by 8.7 per cent. The largest increases, on a departmental basis, were noted in Nariño (+69.2 per cent), Bolivar (+16.3 per cent), Magdalena (+19.1 per cent) and Cesar (+18.4 per cent). In terms of production, a 5.4 per cent YoY rise was noted in Ma... |
Mexico: Elementia plans to raise about US$290m in IPO29 June 2015, Published under Cement NewsMexican building materials company Elementia plans to raise about MXN4.5bn (US$290m) in its initial public offering next month. A preliminary prospectus detailed that Elementia plans to offer 201 million shares at a range of between 20 and 25 pesos per share. The IPO will take place on 9 July and shares can begin trading on 10 July, the company said. It will also include a 15 per cent over-allotment above the base amount, which will bring the total number of shares to about 231 million, re... |
Semen Indonesia lowers prices amid increased competition, weaker demand26 June 2015, Published under Cement NewsSemen Indonesia, the country's largest cement producer, has reduced cement selling prices by around 10 per cent this year and is looking to increase exports against a backdrop of heightened competition in a weaker demand environment. Following a presidential instruction in January this year calling on state-owned cement producers to lower their prices by IDR3000/bag, Semen Indonesia has so far adjusted its prices by around 10 per cent this year, the Jakarta Post reports. Cement prices had... |
Construction output up 0.3% in euro area25 June 2015, Published under Cement NewsIn April 2015 seasonally-adjusted production in the construction sector rose by 0.3 per cent in the euro area (EA19) and fell by 0.3 per cent in the EU28 compared to the previous month, according to first estimates by Eurostat. In March 2015 production output grew by 0.6 and 1.4 per cent, respectively. On an annual comparative basis, April 2015 production in construction remained stable in the euro area and grew by 1.3 per cent in the EU28. Monthly comparison by construction and by membe... |
TCL Group plans delisting24 June 2015, Published under Cement NewsIn the midst of a major debt restructuring exercise, Trinidad Cement Ltd (TCL) has announced that it could delist from the Barbados Stock Exchange (BSE), the Eastern Caribbean Securities Exchange (ECSE) and the Guyana Association of Securities Companies and Intermediaries Inc (GASCI) following its annual shareholders meeting next month. In a notice last week, the Caribbean-based company said that a continued listing on the three regional stock exchanges was “not economically feasible”. ... |
CBMI signs EPC contract for PPC line23 June 2015, Published under Cement NewsCBMI has signed a 3000tpd clinker production line EPC contract with PPC, marking the first collaboration between the two companies. The new kiln line 9 project will be located at PPC's Slurry cement plant near Lichtenburg, South Africa's North West Province, about 250km from Johannesburg. Tong Laigou, Chairman of the Board of CBMI and Darryl Castle, CEO of PPC, signed the contract in the presence of senior staff from both companies. The scope of the contract covers the additive stockp... |