Cement News tagged under: Weekly Newsletter
Sagar gets Board nod for BMM acquisition25 September 2014, Published under Cement NewsThe board of Sagar Cements has given approval in-principle for the acquisition of a 100 per cent equity stake in BMM Cements Ltd as the company seeks to expand its presence in southern India. The deal involves the acquisition of a 1Mta cement plant and a 25MW captive thermal power plant in Gudipadu, near Tadipatri Anantapur district in the state of Andhra Pradesh. Successful completion of the transaction is subject to further negotiation to arrive at the acquisition price and other term... |
Sabanci Holding eyes LafargeHolcim assets24 September 2014, Published under Cement NewsTurkish conglomerate Sabanci Holding plans to bid for some of the assets Lafarge and Holcim must sell to receive approval from competition watchdogs ahead of its planned merger, a source with knowledge of the deal told Reuters. Sabanci is aiming for growth through acquisitions and said in March that it plans to spend TRL1-1.5bn (US$448-672m) on such investments. "Preparations are being made for a bid in December," the source said, adding that Sabanci is interested mainly in European busine... |
PPC chief executive quits, South Africa23 September 2014, Published under Cement NewsKetso Gordhan, the chief executive officer of PPC Ltd (PPC), resigned from his post at South Africa’s largest cement maker because of differences with the board. Mr Gordhan, who was appointed at the start of last year, quit abruptly on Monday prompted by what the company described in a statement as "differences of opinion" with the board, regarding "procedures for the approval of certain decisions. The statement however added that Gordhan had agreed to continue providing input to crucia... |
Indonesian firms expect better second-half23 September 2014, Published under Cement NewsTwo of Indonesia's top three cement producers are expecting a better financial performance in the second half of this year, on the back of growing demand despite a projected slowdown in the country's economy. Christian Kartawijaya, president director of Indonesia's second-largest producer PT Indocement Tunggal Prakarsa, told reporters at the Investor Summit 2014 that there would likely be more construction projects carried out in the second half of the year. “The projected growing cement ... |
PCA: new capacity projections unchanged23 September 2014, Published under Cement NewsPreviously announced plans of more than 6Mta of new capacity during 2016-18 remain unchanged, according to the Portland Cement Association’s (PCA’s) latest capacity report. There have been no plant shutdowns since April 2012. However, the re-opening of plants closed during the economic downturn has yet to materialise, the association has said. PCA’s latest projections for cement consumption suggest sustained growth though the forecast horizon. "Given a domestic capacity scenario still char... |
JSW seeks to expand southern Indian presence23 September 2014, Published under Cement NewsJSW Cement, a subsidiary of the JSW Group, is mulling the construction of a 4.3Mta cement plant in the Gulbarga district of Karnataka, reports Business Line (India). The project is being considered with a view to serving other southern markets such as Andhra Pradesh and Telangana, according to SS Sandhu, JSW Cement vice president. Well connected markets like Gujarat and Maharashtra have also fuelled the decision to launch another plant, Sandhu added. The company has a current cement capac... |
Spain’s cement market contracts 3% in August18 September 2014, Published under Cement NewsSpain’s cement consumption fell by a further three per cent in August 2014 to 819,249t. In the first eight months of 2014 domestic demand registered a two per cent YoY fall to 7.1Mt. “With these data we can talk about record lows, with figures even more daunting in regions such as Catalonia, with a cumulative decline of 15.8 per cent in the first eight months of the year,” said Oficemen CEO, Aniceto Zaragoza. “Given the weak state of the domestic market and to preserve activity in our pl... |
Cemex to buy back over US$950m of debt18 September 2014, Published under Cement NewsCemex said on Wednesday it would buy back more than US$950m worth of its debt from bondholders through a tender offer, as part of a wider plan under a new chief executive to reduce its leverage, Reuters reports. Cemex said holders of US$592.5m worth of outstanding nine per cent notes due in 2018 and US$365.1m worth of 9.25 per cent notes due in 2020 had tendered their notes by the Wednesday deadline. The purchase will help the company to lower its debt-to-equity ratio and reduce interest p... |
Saudi August dispatches rise 29.8% YoY18 September 2014, Published under Cement NewsSaudi cement dispatches for August 2014 climbed to 3.96Mt, an increase of 29.8 per cent YoY and 47.8 per cent MoM, AlJazira Capital has stated in a report citing the data issued by Yamamah Cement Co. The YoY increase in dispatches is primarily due to the fact that part of Ramadan and the holiday season fell in August 2013. The significant MoM growth is attributed ti cement demand recovering after Ramadan. On a YoY basis, Arabian Cement and Najran Cement showed a strong rises in dispatches ... |
Lafarge to sell Russian plant to Buzzi Unicem16 September 2014, Published under Cement NewsBuzzi Unicem, through its fully-owned subsidiary Dyckerhoff GmbH, has reached an agreement to acquire a 100 per cent interest in Lafarge's UralCement plant in Russia for an enterprise value of EUR104m. The 1.1Mta wet-process plant is located in the town of Korkino, some 40km south of Chelyabinks. The transaction is subject to authorisation from relevant authorities. The divestment will contribute to Lafarge's objective to reduce net debt, the French cement major said in statement release... |