Cement News tagged under: Weekly Newsletter
Hanson Building Products files for IPO16 September 2014, Published under Cement NewsHeidelbergCement announced that its subsidiary, Hanson Building Products Ltd, has filed a registration statement with the US Securities and Exchange Commission for a potential initial public offering (IPO) of its ordinary shares. The move is part of HeidelbergCement’s plan to divest a significant portion of its building products business in North America and the UK. The number of shares to be offered and the price range for the potential offering have not yet been determined, HeidelbergCeme... |
Raysut signs Somaliland jv terminal project15 September 2014, Published under Cement NewsOmani producer Raysut Cement has announced that it has agreed a deal with Barwaaquo Cement of Somaliland to operate a joint venture terminal for the packaging and distribution of cement. The two companies will build a US$7.5mn terminal in the port city of Berbera which will have the ability to store and distribute both bagged and bulk cement set to be delivered from Oman by sea. It will have a capacity to store up to 12,000t of cement and completion is scheduled for the end of 2015. R... |
PCA: demand growth in 2014 and beyond11 September 2014, Published under Cement NewsCement consumption is expected to grow in the United States through 2014, followed by additional gains in 2015 and 2016, according to a recent Portland Cement Association (PCA) economic forecast. Consistent with a report earlier this spring, cement consumption will increase 7.9 per cent this year compared to 2013 levels. The forecast indicates considerable evidence that the economy's growth path has strengthened from gains in the labor market, low consumer debt, and increased consumer wealt... |
Indonesian August sales higher11 September 2014, Published under Cement NewsIndonesia cement sales jumped 37.4 per cent YoY to 4.7Mt in August 2014 on the back of higher demand from the property and infrastructure projects. Widodo Santoso, chairman of the Indonesian Cement Association (ASI), said that the development of smelters, power plants, apartments, hotels, and social housing has been key to improved cement sales last month. However, the 37.4 percentage point growth was also caused by fewer working days in August 2013 as the Idul Fitri holiday fell in that ... |
Grupo Argos raises US$509m in bond sale11 September 2014, Published under Cement NewsGrupo Argos, the parent company of Colombia's leading cement producer Cementos Argos, has raised COP1trn (US$509.4m) in a bond sale on Wednesday that was more than doubly oversubscribed, the company said in a filing to the financial regulator. Grupo Argos said the issue enabled it to restructure debt which it said would now come due in 6.3 years instead of 1.5 years, a period it said matched its investment needs well. More than half the bonds sold will come due in 10 or 15 years though o... |
Ashaka Cement stake changes hands11 September 2014, Published under Cement NewsLafarge Group has sold 58.61 per cent of its stakes in Ashaka Cement Plc to Lafarge Africa Plc in a deal valued at NGN41bn (US$252m). Lafarge sold 1.3bn ordinary shares of its Ashaka Cement at NGN30.95 each. The sale follows the company's decision to merge its Nigerian and South African assets into a single unit, Lafarge Africa Plc. In creating Lafarge Africa, the group will sell the entirety of its 72.4 per cent stake in South African unit while relinquishing control of equity stake in... |
EC clears Holcim and Cemex Spanish deal10 September 2014, Published under Cement NewsThe European Commission (EC) has cleared, under the EU Merger Regulation, the proposed acquisition of Holcim’s Spanish operations by Cemex, the last of three transactions under scrutiny in the European tie-up between the two global majors. Following an in-depth investigation launched in April 2014, yesterday the Commission concluded that the acquisition "would not raise competition concerns since the merged entity will continue to face sufficient competition from its rivals in all markets ... |
Dubai to acquire interest in Dangote Cement09 September 2014, Published under Cement NewsInvestment Corporation of Dubai (ICD), the main investment arm of the Emirate of Dubai, has agreed to purchase a minority interest in Nigeria's largest cement manufacturer, Dangote Cement plc, from majority shareholder, Dangote Industries Ltd. Under the terms of the agreement, which was signed at a ceremony in Dubai attended by HE Mohammed Ibrahim Al Shaibani, executive director and CEO of the Investment of Corporation of Dubai and Aliko Dangote, president and CEO of Dangote Industr... |
Dangote rolls out price cuts, Nigeria05 September 2014, Published under Cement NewsDangote Cement yesterday said it has reviewed the price of its cement in Nigeria and announced a price cut of NGN100 (US$1)/50kg bag. Speaking to local journalists, the company's managing director, Edwin Devakumar, said that the new prices would be rolled out to distributors as of 4 September 2014. Mr Devakumar also stated that to further comply with the Standards Organisation of Nigeria (SON) directive and regulations, the company has announced plans to launch its grade of premium 32... |
Cemex seeks to refinance some bank debt04 September 2014, Published under Cement NewsCemex said Wednesday it is negotiating with a number of banks to refinance part of its outstanding bank debt, saying hopes to finalise the pact by the end of October. In a regulatory filing, the Mexican cement major said it is in advanced talks with a group of banks aimed at reaching a new agreement by 31 October 2014. Proceeds would be used to refinance part of an existing financing agreement with banks. Cemex refinanced around US$15bn in bank debt during the 2009 global crisis, and ... |