Cement News tagged under: Weekly Newsletter
Pakistan: Dewan Cement restructuring debt22 June 2015, Published under Cement NewsDewan Cement Ltd (DCL) has taken steps to ease debt burden and improve production efficiency. According to a local brokerage house, the company has taken the first step in converting its debt amounting PKR450m into equity by issuing 45m shares and is planning to further convert debt amounting to PKR500m into 50m shares to its director. This will lower Dewan's financial leverage thereby helping it obtain a loan to meet its working capital requirements. Moreover, management intends to resch... |
Moody's reviews West China Cement's B1 ratings22 June 2015, Published under Cement NewsMoody's Investors Service has put West China Cement Limited (WCC) B1 corporate family and senior unsecured debt ratings under review for upgrade. On 19 June 2015, WCC announced that Conch International Holdings (HK) Ltd (unrated) – a wholly owned subsidiary of Anhui Conch Cement Co, Ltd. (unrated) -- would subscribe to shares equivalent to a 16.67 per cent equity stake in WCC. The subscription proceeds of about HKD1.5bn would be used for general working capital and for potential acquisitio... |
West China Cement issues Conch International HK$1.53bn worth of shares19 June 2015, Published under Cement NewsWest China Cement said Friday that it will issue HKD1.53bn (US$197.4m) worth of shares to to Conch International Holding, a wholly owned subsidiary of Anhui Conch Cement Company Ltd. The Hong Kong-listed company said it would use the proceeds for future acquisitions and investments. At HK$1.69 a piece, the issued shares are at a 0.59 per cent discount to the stock's last closing price. The total amount of shares represent 20 per cent of the company's issued share capital and 16.67 per cen... |
CMS sees strong start to the year, Malaysia18 June 2015, Published under Cement NewsCaha Mata Sarawak Bhd (CMS) reported a total revenue of MYR491m (US$132.3m) for the first quarter of 2015, an increase of 32 per cent from MYR373.24m a year earlier. Pretax profit of MYR95.01m in 1Q15 was 44 per cent up on the MYR66.19m in 1Q14. Profit after tax and non-controlling interests increased by 48 per cent to MYR57.42m from MYR38.9m in 1Q14. Earnings per share stood at 5.52 sen versus 3.81 sen (adjusted for share split and a bonus issue in June 2014) from the corresponding perio... |
Dangote Cement planning Asian market entry18 June 2015, Published under Cement NewsDangote Cement is reportedly planning to enter the Asian cement market with the construction of a cement plant in Nepal. Quoting Aliko Dangote, Bloomberg reported that Dangote Cement Plc should complete a factory in Nepal by the end of 2017. It has received 90 per cent of the regulatory approvals needed to start construction in the south Asian nation hit by two earthquakes this year, he said. The company is expected to invest US$400m to build the cement plant with a capacity of as much as ... |
USA: Port of San Diego, Mitsubishi Cement Corp sign conditional agreement18 June 2015, Published under Cement NewsAs part of strategic efforts to increase cargo business at the Port of San Diego, the port has entered into a conditional agreement with Mitsubishi Cement Corporation (MCC) for potential future operations at Tenth Avenue Marine Terminal. The conditional agreement, which was approved by the Board of Port Commissioners on 11 June 2015, will allow the Port to conduct a project review under the California Environmental Quality Act in anticipation of MCC's potential operations at the Tenth Avenu... |
CEMBUREAU elects new President and Vice President17 June 2015, Published under Cement NewsDaniel Gauthier, CEO Western Europe-Africa and Member of the Managing Board of HeidelbergCement, has been elected as President of CEMBUREAU for a two-year term at the Association's General Assembly held yesterday in Oslo (Norway) after having completed his mandate of Vice-President over the last two years. He takes over from Peter Hoddinott, Executive Vice President Performance and Member of the Executive Committee at Lafarge. In addition, Gonçalo Salazar Leite (CEO Secil) has been elected a... |
Lafarge to buy out Baring stake in Indian unit16 June 2015, Published under Cement NewsAs part of the implementation in India of its planned merger with Holcim - and subject to its completion - Lafarge has signed an agreement to acquire the 14 per cent stake held by Baring in Lafarge India, for a consideration of EUR270m. Following this transaction, subject to the approval of the regulatory authorities, Lafarge will hold 100 per cent of the shares of Lafarge India. |
Indonesian monthly consumption declines by 7.9%15 June 2015, Published under Cement NewsIndonesian consumption remained weak in May, declining by nearly eight per cent, latest data from the Indonesia Cement Association shows. Cement demand fell by 7.9 per cent in May 2015 to 4.78Mt. Consumption during the month was down in all areas, with Kalimantan seeing the largest regional drop (-24.3 per cent) followed by Maluk & Irian Jaya (-16.2 per cent) and Sulawesi. On the main island of Java, demand fell by 8.7 per cent, with the biggest declines in Jakara (-14.5 per cent), Banten... |
MPA: Facts at a Glance12 June 2015, Published under Cement NewsAt its 6th Members’ General Assembly held on Wednesday, the MPA released the third edition of its ‘Facts at a Glance’ publication, offering a comprehensive insight into the essential contribution the mineral products industry makes to the economy and the UK in general, and some of the challenges it faces. The headline figures at a glance are: • 300Mt – GB production of aggregates and manufactured mineral products • GBP21bn – mineral products industry’s annual turnover • GBP6.7bn – tot... |