Cement News tagged: Corporate
UK regulator demands domestic shake up
The structure and conduct of the UK cement sector restricts competition, costing consumers around GBP50m annually, and therefore requires decisive market intervention, according to the conclusions of the two-year investigation by the UK’s Competition Commission published this week. The investigation did not, however, identify any problems with the markets for aggregates or RMC. The Commissio...
Fitch Affirms Cementos Pacasmayo rating
Fitch has affirmed ratings of Peruvian cement producer Cementos Pacasmayo. The ratings Outlook is Stable. The following ratings have been affirmed: • Foreign currency Issuer Default Rating (IDR) at 'BBB-' • Local currency IDR at 'BBB-' • US$300m senior unsecured notes at 'BBB-'. Fitch said the ratings reflect the company's solid business position as the only cement producer in Peru's nort...
Yamama Cement net profit rises 6.4% YoY
Yamama Cement Co of Saudi Arabia said yesterday its net profit for 2013 rose by 6.4 per cent to SAR870m (US$232m), up from SAR818m a year ago. The increase was attributed to a rise in extraordinary gains from the sale of stakes in affiliate companies, Yamama Cement said without giving exact figures. The operating profit declined to SAR829m from SAR863m.
Conch expects strong rise in 2013 profit
Anhui Conch, the leading cement producer in China by market value, said it expects a 50 per cent rise in net profit attributable to shareholders for 2013. In 2012, the company posted a net profit of CNY6.31bn (US$1.043bn) with basic earnings per share of CNY1.19. According to a statement filed with the Shanghai Stock Exchange, the company said the improved performance in 2013 was due to...
Semen Indonesia eyes further Asian expansion
Following the acquisition of a majority stake in Vietnam-based cement producer Thang Long Cement in 2012, Semen Indonesia is now setting its sights on expanding into Bangladesh as well as completing a deal in Myanmar this year. “We will probably acquire grinding mills in Bangladesh [...] but not this year,” Semen Indonesia corporate secretary Agung Wiharto told the Jakarta Post. Wiharto ...
Lafarge one step closer to completing US refocus
Lafarge announces the sale of five aggregates quarries and related assets in Maryland (USA) to Bluegrass Materials for a total enterprise value of US$320m. With these divestments, the group has now largely completed its strategy of refocusing on its core markets in the United States, the cement major said in a statement. Lafarge today operates a network of integrated positions mainly locate...
New member of FLSmidth Group Executive Management
FLSmidth announced that Eric Thomas Poupier has been appointed to a newly created position in Group Executive Management as Group Executive Vice President, Business Development and will take up his new position 15 January 2014. Eric Thomas Poupier, age 37, is a French citizen and has since 2011 been a Manager at Bain & Company in Stockholm managing projects for Nordic clients. From 2007 to 2...
Anhui Conch and Asia Cement sign strategic partnership deal
Anhui Conch and Taiwan producer Asia Cement have signed a strategic partnership to explore overseas markets and share expertise in environmentally-friendly technologies. The two companies are yet to divulge the details of their planned co-operation. However, it is understood they will explore opportunities in sharing green technologies, management expertise, market and product expansion and ...
Yamama posts preliminary 4Q13, full-year results, Saudi Arabia
Yamama Cement posted its preliminary 4Q and FY13 results, with net profit up 2.3 per cent to SAR870m. The results were one per cent below estimates by NBK Capital but in line with a Bloomberg consensus of SAR867m, NBK Capital said in a descent report. "This implies a net profit for 4Q2013 of SAR178m, slightly below our forecast of SAR186m." According to NBK Capital, Yamama published a 4Q...
Credit Suisse acquires shares in China Shanshui
Credit Suisse Group AG acquired 10.47m shares in China Shanshui Cement Group Ltd for a total of HK$34.93m on 31 December 2013, according to the Hong Kong Stock Exchange. Since the purchase, Credit Suisse holds 141.13m shares (a 5.01 per cent stake) in Shanshui Cement. The Shandong Province-based company is engaged in limestone mining and the manufacture of cement and cement clinker.
CRH full-year development spend
CRH announced a total of seven acquisitions and investment initiatives in the second half of 2013, taking full-year development activity to EUR0.69bn. The company invested EUR0.22bn in the six months to the end of December last year, including one transaction in Asia, three under its American Materials division and a further three in its Distribution segment. Commenting on the these develop...
EC rejects request by Germany to review deal
The European Commission (EC) has rejected a request from Germany to refer the planned acquisition of Cemex West by Holcim to the German competition authority for assessment under national competition law. The EC concluded that the geographic scope of the affected cement markets is wider than national and that therefore the Commission cannot refer the assessment of the transaction to Germany...
Yanbu Cement full-year net profit rises 14.3%
Yanbu Cement Co’s net profit rose 14.3 per cent YoY to SAR832m (US$219.4m) in 2013, the company announced in a bourse filing. Operating profit increased to SAR847m from SAR757m in 2012. The company attributed the rise to higher sales without giving exact figures. The Saudi-based producer reported earnings per share of SAR5.23, up from SAR4.57.
Ha Tien 1 lists 120m new shares on HOSE
Ha Tien 1 Cement JSC has received approval from the Ho Chi Minh City Stock Exchange (HOSE) to float 120m new shares on the bourse. The shares, earlier sold to Vietnam Cement Industry Corporation (Vicem) to reduce debt, will be listed on 8 January and tradable starting 22 December 2014. The additional share listing will help the company raise its total listed volume to 318m shares. (Source: Vi...
Saigol appointed chairman of Maple Leaf Cement
Maple Leaf Cement Factory Ltd (MLCFL) has appointed Tariq Saeed Saigol as chairman of the company for a term of three years. Company secretary Muhammad Ashraf on Friday announced that MLCFL's board of directors confirmed the appointment, effective 1 January 2014.
Dujiangyan Lafarge Cement stake to be acquired
Sichuan Shuangma Cement plans to issue 148m shares to Lafarge China Overseas Holding at CNY832m (US$137.4m) to acquire a 25 per cent of Dujiangyan Lafarge Cement. Lafarge China currently holds 48.14 per cent of Shuangma Cement. Net assets of Dujiangyan Lafarge Cement were appraised at CNY3.33bn by September end 2013, appreciating 20.62 per cent.