Cement News tagged under: corporate
Cemex not likely to issue bonds before 3Q01 June 2009, Published under Cement NewsCemex is unlikely to go through with a MXP5bn (US$379m) bond issue without first announcing the status of its ongoing negotiations to restructure US$14.5bn in liabilities this year, Mexico City-based financial group IXE analyst Patricio Rivera told BNamericas. Local paper El Semanario reported Friday that the company is planning to carry out the operation through its Cemex Mexico and Cemex Concretos subsidiaries. The report said the bond issue would be carried out through a trust fund set ... |
Holcim (Slovensko) Reports EUR 26.673m. Profit Last Year29 May 2009, Published under Cement NewsThe largest cement producer in Slovakia, Holcim (Slovensko), a.s. Bratislava, netted SKK 803.539m (EUR 26.673m) last year. The company informed that its operating profit was SKK 576.704m (EUR 19.143m) and profit from financial operations was SKK 273.576m (EUR 9.081m). The volume of output amounted to SKK 4.757 billion (EUR 157.903 million) and production costs SKK 3.079bn (EUR 102.204m). Throughout 2008, Holcim in Slovakia increased sales of its products and services by 16.6 percent to SKK ... |
Cimpor names Jorge Moura permanent CEO29 May 2009, Published under Cement NewsCimpor will appoint Jorge Moura, its temporary CEO, officially to the post as of June 1, 2009, Cimpor said in a note to the national bourse regulator CMVM on Wednesday. The decision was taken at a meeting of the board of directors yesterday which also elected members for Cimpor’s executive committee. These are Luis Martins, who will substitute Moura whenever necessary; Manuel Blanc, Antonio Varela and Luis Vaz. With their nominations it became clear that Lafarge, a shareholder in Cimpor, h... |
Semen Gresik: in IDR3.55trn funding deal with bank Mandiri29 May 2009, Published under Cement NewsSemen Gresik Group said Thursday that it has secured a IDR3.55 trillion debt-financing facility with PT Bank Mandiri (BMRI.JK) to fund the construction of a cement plant and power generators by its unit PT Semen Tonasa. Semen Gresik said in a statement that the planned cement manufacturing plant would have annual output of 2.5 million metric tons. It said the annual interest on the financing will be 12%. Semen Gresik Group comprises PT Semen Gresik (SMGR.JK), Indonesia’s largest cement ma... |
South Africa: Stuiver to take over at PPC from CEO Gomersall28 May 2009, Published under Cement NewsPretoria Portland Cement (PPC), SA’s largest cement maker, yesterday announced the sudden departure of CEO John Gomersall, who is to step down at the end of next month after 17 years at the helm. Gomersall will be replaced by PPC director and former Barloworld Logistics CEO Paul Stuiver, who will become CEO-designate from next month and eventually take the reins fully on July 1. |
New MD of Holcim Bangladesh27 May 2009, Published under Cement NewsRajnish Kapur has been appointed the new Managing Director of Holcim Bangladesh Ltd, to succeed PN Iyer. Mr. Kapur with more than 23 years of experience is an engineer and Six Sigma Green Belt from the reputed Indian Institute of Management. |
Bank Sohar, Oman Cement sign deal for term loan facility26 May 2009, Published under Cement NewsBank Sohar and Oman Cement Company have signed an agreement for a term loan facility for OMR20m to part finance the company’s expansion projects. Oman Cement Company’s team led by Sayyid Qahtan bin Yarub al Busaidy, Chairman included its directors Ali Mohammed Redha al Haj Jaffer, Hamdan Mohammed al Wahaibi, CEO Jamal bin Shamis al Hooti and CFO Deepak Dikshit. "This agreement brings together one of the oldest companies in Oman working together with the newest bank in the country. Oman Cemen... |
Siam City Cement to focus on cost-cutting, Thailand21 May 2009, Published under Cement NewsSiam City Cement PCL, Thailand’s second largest cement maker, is focusing on cost-cutting to shore up its profitability amid declining domestic demand and fierce competition. Siam City Cement, 35% owned by Holcim, expects to see a 5%-10% decline in the domestic cement market in the wake of the global economic slowdown and sluggish domestic activity, Managing Director Philippe Arto said Thursday. Domestic cement demand was around 24.5Mt last year. The company has around 27%-28% of the domes... |
Cimpor sells 48% in C+PA to Teixeira Duarte21 May 2009, Published under Cement NewsPortuguese cement producer Cimpor agreed to sell 48% in C+PA to local builder Teixeira Duarte for EUR 47.2m (US$65.7m), Cimpor informed on Thursday in a filing to the national bourse regulator CMVM. As part of the same deal, Cimpor will withdraw from the 2.18% stake in Portuguese commercial bank Millennium bcp (BCP) through C+PA. This stake in BCP brought a loss of some EUR 77m for Cimpor at the end of 2008. In the meantime, Cimpor will buy 25% in Cimpor Macau and 48.6% in Arenor Lda, curr... |
Fitch Rates Lafarge’s Bonds At BBB21 May 2009, Published under Cement NewsFitch Ratings has today assigned Lafarge EUR1bn 7.625% bond, maturing in 2014, and its GBP350m 8.75% bond, maturing in 2017, senior unsecured ratings of ’BBB-’ respectively. The bonds have been issued under Lafarge’s EUR9bn EMTN programme. The ratings are in line with Lafarge’s Long-term Issuer Default Rating (IDR) of ’BBB-’, which has a Negative Outlook. Lafarge’s senior unsecured rating is ’BBB-’ and its Short-term IDR is ’F3’. The net proceeds of the bonds will be used for refinancing o... |