Cement News tagged under: corporate
India’s Shree Cement fails to power up30 December 2010, Published under Cement NewsAnalysts at LKP have downgraded Shree Cements to underperformer in its December 28, 2010 research report. A laggard performance from its power division has been due to extended monsoons reducing the demand from the manufacturing segment amidst competition from low cost hydropower generation. Post foraying into power segment, Shree has not entered into long-term contract for supplying power. With the seasonal nature of demand for merchant power, falling power realizations and very low volume... |
Holcim’s newest US plant illustrates cement economics30 December 2010, Published under Cement NewsGiven current US market conditions, the recently commissioned Ste. Genevieve plant on the Mississippi will be hard-pressed to generate adequate returns for the foreseeable future. However, now that the capital is sunk, the plant is an advantaged player in its market – writes Elizabeth Collins, CFA, for the Morningstar website. Following a near doubling of the originally estimated capital costs, the plant investment amounts to roughly 7.5 times to 10.1 times expected EBITDA, for a pretax ret... |
New Philippine cement plant inaugurated29 December 2010, Published under Cement NewsEagle Cement Corp (ECC) has started commercial operations of its P6.73-billion Bulacan plant this month and is in place to augment cement supply in time for the peak of the construction season. There was a one-year delay in the plant’s operations due to the devastation caused by last year’s typhoons. Lucita P. Reyes, executive director of the Board of Investments (BOI), said the agency has approved ECC’s application to amend the timetable of its start of commercial operations from December ... |
Saudi cement-makers in weekly retreat29 December 2010, Published under Cement NewsArabian Cement Co slid 9.9 per cent, the most in more than two years, to 34.5 riyals. The Saudi Arabian maker of building materials said its plant in Jordan is facing delays and will cost an additional US$74m to complete. Jabal Omar Development Co fell for a fourth day, decreasing 2.3 per cent to 17.05 riyals. The real-estate developer in Saudi Arabia’s holy city of Mecca said its fourth- quarter loss widened to 11.3 million riyals (US$3m) from 1.5 million riyals in the year-earlier period... |
Polpaico major share trade sees Gasco exit29 December 2010, Published under Cement NewsChilean natural-gas supplier Gasco SA has raised 54.8 billion Chilean pesos (US$116.7m) after selling its 40.9% stake in local cement maker Cemento Polpaico SA this week. The proceeds from the sale of 7.31 million shares of Cemento Polpaico will be used to fund Gasco’s development of projects in Chile and Colombia – reports Dow Jones in New York "The proceeds will go towards the company’s core business, especially liquefied gas in Colombia and vehicular gas, [specifically] natural and liqu... |
Lafarge sells aggregate and ready-mix assets28 December 2010, Published under Cement NewsLafarge has announced two disposals totaling circa €120 million, as part of its 2010 divestment plan. Lafarge has disposed of the integrality of its Aggregates & Concrete business in Portugal (29 concrete plants and 4 aggregates quarries) to the Portuguese construction group Secil. This transaction is subject to approval Lafarge has also sold its Aggregates & Concrete business in Alsace and Switzerland, including eight concrete production plants (four in Alsace and four in Switzerland) an... |
Holcim acquires aggregate and ready-mix operations28 December 2010, Published under Cement NewsHolcim has acquired several aggregates and gravel operations and ready-mix concrete plants in Switzerland and France. Holcim, together with a French partner, Eiffage Travaux Publics, has purchased eight aggregates and gravel quarries and four ready-mix concrete plants in Alsace (France) and Holcim (acting alone) four ready-mix concrete plants in the Basle area (Switzerland) from Lafarge as of January 2011. This strategically attractive acquisition will allow Holcim (Schweiz) AG and Holcim (... |
New Chinese partnership for KHD28 December 2010, Published under Cement NewsGerman cement manufacturing specialist KHD has announced a significant strategic partnership with China-based CATIC Beijing Ltd a subsidiary of China’s state-owned CATIC International Holdings Ltd, to capitalize on the rapidly expanding international market for cement plant construction. KHDs Director Jouni Salo said that KHD and CATIC combined will be able to bid on a wider range of projects, including large turnkey projects, and penetrate the most important cement markets including China... |
Further ACC purchases by Holcim28 December 2010, Published under Cement NewsHolcim Group has started strengthening its stake in its Indian subsidiary ACC through further small-scale share purchases for the first time since September 2008. Ambuja Cement India and three other Holcim entities have raised their stake in the company by 2.01% to 48.21% through open market transactions between December 10 and 24, ACC said in a notice to stock exchanges on Monday. These purchases seems to be part of creeping acquisition that allows promoters to increase their stake in a c... |
Maybank upgrades Lafarge Malayan Cement to buy23 December 2010, Published under Cement NewsLafarge Malayan Cement (LMC) has outperformed its cement and steel peers by 3% and 11% year-to-date (YTD) respectively and the stock now trades at 15.4 times 2012 earnings, which we expect to be a peak demand year for cement in view of major infrastructure projects in Greater Kuala Lumpur (KL) starting in 2011. Nonetheless, 2012 could mark the start of sustained demand for cement driven by the LRT, MRT, and government land development projects, according to analysts at Maybank IB Research.... |