Cement News tagged under: Weekly Newsletter
Buzzi Unicem's bid for Sacci expires05 May 2015, Published under Cement NewsBuzzi Unicem’s offer to buy Sacci SpA has expired after being rejected by the banks and creditors and the bidder is no longer bound to any commitment, the Italian cement major announced. “We inform that the population of the banks and creditors that take part in the debt restructuring agreement pursuant to article 182-bis of the Bankruptcy Law did not endorse the proposal by Buzzi Unicem. The offer has expired today and as such Buzzi Unicem is released from any subsequent commitment,” Buzzi... |
Semen 1Q profit hit by lower prices30 April 2015, Published under Cement NewsIndonesia's biggest cement producer, PT Semen Indonesia Tbk, posted a 8.5 per cent drop in first-quarter net profit from a year earlier on the back of lower selling prices and weaker domestic demand. The state-owned company reported net profit of IDR1.19trn (US$91.82m) for the three months ended March, down from IDR1.30trn for the corresponding period a year earlier. “The company’s performance for the first quarter was affected by the decrease in selling prices in mid January, and wea... |
Philippine first-quarter cement sales up 9.6%30 April 2015, Published under Cement NewsPhilippine cement sales grew 9.6 per cent in the first quarter from a year ago to 5.7Mt, latest statistics from the Cement Manufacturers Association of the Philippines (CeMAP) show. Growth was attributed to demand from projects being undertaken by the public and private sectors. CeMAP president Ernesto Ordoñez said public sector spending, particularly that of the Department of Public Works and Highways increased. Private sector spending also improved because of growing confidence in the... |
Conch's 1Q15 earnings fall 31%29 April 2015, Published under Cement NewsAnhui Conch reported 1Q15 net profit of CNY1.7bn (US$274m), down 31 per cent YoY. Sales declined 11 per cent YoY driven by almost a 20 per cent decline in average selling prices. Due to the weak seasonal recovery in cement price, Jefferies expect 2Q15 earnings could decline 30 per cent year-on-year as well. "Seasonal recovery in cement price has been happening slower than expected due to weak demand growth. Cement price continues to fall well into April and is now 10-25 per cent lower t... |
UltraTech full-year net profit down 6% YoY27 April 2015, Published under Cement NewsIndia’s largest cement manufacturer UltraTech Cement reported a six per cent drop in its net profit for the year ended 31 March 2015 to INR20.15bn versus INR21.44bn in the previous year. Net sales were 13 per cent at INR22,656 crore against INR20,078 crore in the previous year. The Aditya Birla group firm noted that although there was some relief from softening coal prices, the cost of limestone and other input materials continued to remain high, putting pressure on margins. “The company... |
Bestway acquires Lafarge Pakistan unit24 April 2015, Published under Cement NewsBestway Cement Ltd, a subsidiary of Bestway Group, has taken management control of Lafarge Cement's plant located near Kallar Kahar, Pakistan. To mark the acquisition, a ceremony was held at the plant on Wednesday, which was attended by Sir Anwar Pervez, the owner of Bestway Group and Amr Ali Reda, the CEO of Lafarge Pakistan, among others. In July 2014 Bestway successfully bid for a 75.86 per cent of Lafarge Pakistan’s shares for an enterprise value of US$329m. Bestway Cement... |
Italcementi Group to acquire two Holcim facilities in the US23 April 2015, Published under Cement NewsEssroc, the North American subsidiary of Italcementi group company Ciments Français, has signed an agreement with Holcim to purchase the slag cement grinding facility in Camden, New Jersey, USA. As part of the transaction, Essroc will also obtain Holcim cement terminal in Everett (Massachusetts). The acquisition will be finalised pending completion of the Holcim and Lafarge merger later this year. Holcim’s staff in Camden and Everett will join Essroc, Italcementi said in a statement. The ... |
Pakistan export volumes and revenues down over first nine months23 April 2015, Published under Cement NewsPakistan cement exports in the first nine months of the current fiscal fell 6.75 per cent YoY to 6Mt. Export revenues, meanwhile, were down by 6.86 per cent to US$349.04m over the July 2014-March 2015 period. In terms of the Pakistan rupee, exports fell by 9.54 per cent to PKR35.31bn and the average price was down to US$58.08m versus US$58.15m in the year-ago period. In March 2015 alone, Pakistan exported 439,017t of cement on revenues of US$24.99m, representing a MoM decline of 16.38 ... |
Canada cement industry applauds impact of Federal budget23 April 2015, Published under Cement NewsThe Cement Association of Canada (CAC) has applauded the release of Budget 2015. Released on 21 April 2015 by the Minister of Finance, the Budget indicates that several billion dollars have successfully been invested in critical infrastructure projects across Canada. The CAC took the opportunity to highlight the critical importance of infrastructure investments in boosting the competitiveness and growth of the private sector, both of which it says are critical to the continued economic re... |
ISS backs LafargeHolcim deal22 April 2015, Published under Cement NewsUS shareholder adviser ISS has recommended that Holcim investors back the Swiss cement maker's proposed merger with Lafarge ahead of next month's shareholder vote on the tie-up. Backing from ISS is a boost Holcim as it seeks to win the support of two-thirds of investors at a shareholder meeting on 8 May 2015 to approve a capital increase to fund the proposed deal. ISS said in its report to investors that the deal warranted investors' support as it had a clear strategic rationale and offere... |