Cement News tagged under: Weekly Newsletter
Lafarge to acquire complete control of Unicem11 November 2014, Published under Cement NewsLafarge Nigerian Cement Holdings said on Monday it had entered into an agreement with Flour Mills of Nigeria to purchase a 30 per cent stake in United Cement Company of Nigeria Ltd (Unicem). The deal will give Lafarge's Nigerian Cement Holdings complete control of the country's third-largest cement manufacturer, Reuters reported. "Pursuant to the agreement, a first 15 per cent tranche would be acquired in the first quarter of 2015, while the second 15 per cent tranche is scheduled to be ac... |
Indonesian monthly consumption up 3.2%10 November 2014, Published under Cement NewsIndonesian cement consumption increased by 3.2 per cent in October 2014 and year-to-date sales were ahead by 3.4 per cent. However, industry sources caution that sales may start to slow on account of the rainy season. During October 2014, Indonesian demand increased to 5.759Mt versus 5.579Mt in the same period of last year. Cement consumption over the first 10 months of the year reached 48.752Mt compared to 47.158Mt in 10M13. Exports of 255,821t over the 10-month period declined by 52.5... |
Buzzi Unicem's US profits grow10 November 2014, Published under Cement NewsBuzzi Unicem's turnover for the first nine months edged ahead by 0.2 per cent to EUR1898.7m while EBITDA improved by 10.8 per cent to EUR302.5m. The trading profit was ahead by 15.1 per cent to EUR136.1m and net financial charges declined by 38 per cent to EUR50.7m. The contribution from associates increased by 22.6 per cent to EUR36.1m, and the pre-tax profit advanced by 77.3 per cent to EUR121.8m. The tax charge still rose by 63.1 per cent while the minorities charge declined by 36.4 pe... |
Dangote Cement to reduce capex next year07 November 2014, Published under Cement NewsDangote Cement expects to slow its capital spending next year to around US$700m, as it completes most of its African expansion projects, its chief executive told Reuters on Wednesday. Edwin Devakumar said Africa's biggest cement operation budgeted to spend around US$1.4bn this year, as it ramps up its cement works from Senegal to Zambia. "This year we may end up with a capex of close to US$1.4bn though we expect it to come down next year to around US$700m," Mr Devakumar told the news agenc... |
Rembang project temporarily halted, Indonesia06 November 2014, Published under Cement NewsCentral Java Governor, Ganjar Pranowo, has said that Semen Gresik's cement plant project in Watuputih, Rembang, has been halted to respect the process of a citizen lawsuit at the Commercial Court in Semarang, Central Java. The lawsuit, filed by residents who rejected the exploration plan, wants to overturn the governor’s decision of 7 June 2012 reading the plant’s environmental permit. An industry source told CemNet news that Mr Pranowo received a letter of recommendation from the the Nat... |
PPC increases stake in Habesha, Ethiopia06 November 2014, Published under Cement NewsPPC has increased its shareholding in Ethiopian producer Habesha Cement Share Company to 51 per cent by acquiring the Industrial Development Corporation's (IDC) 20 per cent stake in the company for US$13m. In July 2012, PPC jointly acquired a 47 per cent stake in the Habesha Cement for US$21m, with PPC investing US$12m cash to obtain a 27 per cent stake in Habesha Cement and the IDC simultaneously investing US$9m for a 20 per cent equity stake. The balance of the shareholding is held by mo... |
Arabian Cement to set up Brazilian joint-venture05 November 2014, Published under Cement NewsEgypt-based Arabian Cement Company, announced it will establish a grinding plant in northwest Brazil as part of a joint-venture agreement with local cement manufacturer Cementos Relampago, part of Cementos La Union. The 2.3Mta facility is expected to involve an investment of €23m ($28.7m), of which Arabian Cement will contribute €7m. Arabian Cement added that its contribution represents 60 per cent of the total paid in capital, noting that 50 per cent of the project’s cost will be financed... |
Vicat advances in all group markets except France and Italy05 November 2014, Published under Cement NewsVicat's turnover for the first nine months of the year improved by 6.1 per cent to EUR1847m, which represents an underlying advance of 9.7 per cent. The gearing level was little changed at 51.7 per cent at the end of September compared with 51.3 per cent a year ago and lower than the 52.7 per cent seen at the end of June. Turnover in cement was 10.1 per cent higher at EUR1129m, which represented 53.6 per cent of the group total. Cement deliveries rose by 15.7 per cent to 15.82Mt. The agg... |
Portugal Semapa profit up 15%04 November 2014, Published under Cement NewsPortugal's conglomerate Semapa, owner of cement maker Secil, posted on Friday a 15 per cent rise in nine-month net profit, helped by lower taxes on some of its overseas operations and a small increase in sales. Net profit rose to EUR80m the company said in a statement. Still, EBITDA fell 4.5 per cent from a year ago to EUR98m. Total sales rose about by about one per cent to EUR1.48bn, with cement sales up four per cent. The company attributed the growth to cement and clinker exports from ... |
MPA: sales volumes indicate further growth04 November 2014, Published under Cement NewsAn acceleration in third-quarter sales compared to the previous quarter indicated continuing growth in construction activity, according to latest figures from the Mineral Productions Association (MPA). Statistics published yesterday by the MPA show sales volumes for asphalt, ready-mixed concrete and crushed rock in 3Q rose by 2.5-3.5 per cent compared to the previous quarter, and 8.5 per cent for sand and gravel. Crushed rock sales, it noted, have been particularly strong, up 13 per cent ... |