Cement News tagged: Corporate
CNBM & Sinoma merger could complete by year-end
China National Building Material Group Co (CNBM) said that it will complete merging with China National Materials Group Corp (Sinoma) by December or early next year. The announcement came after nine subsidiaries of the two groups suspended trading last week. Various media outlets, quoting business insiders, indicated they were accelerating the merger. The merger was first unveiled in August ...
Kuwait Portland Cement chairman buys 1.46m shares
The chairman of Kuwait Portland Cement, Khaled Al Sager, has purchased 1.46m of the company’s shares on Wednesday, 6 September. The total value of the purchased stake stood at KWD1.42m (US$4.71m) or 970 fils per share. Portland Cement’s capital stands at KWD10.02m, which is distributed on 100.2m shares. Kuwait Portland Cement Company is the third and final player on the Kuwaiti cemen...
Dangote sets eyes on PPC Group
Aliko Dangote is considering counter offers for the PPC Group and as such could spark a bidding contest for South Africa’s largest cement producer, reported The Star who quoted people close to the subject. Dangote Cement sees the bid as a way to accelerate its pan-African expansion, but the company is only one of several companies keeping a close eye on the bidding. PPC has already received...
Vassiliko posts 5% 1H net profit rise
Cyprus-based Vassiliko Cement Works plc generated a net profit of EUR12.7m (US$15.3m) in the first half of 2017, representing a five per cent rise YoY from EUR12.1m in 1H16. Total revenue rose from EUR49m in 1H16 to EUR52.8m in 1H17, the company said in a statement on the Cyprus Stock Exchange. Cost of sales rose to EUR35.1m, from EUR30.4m, and distribution costs fell to EUR2.4m, from EU...
CIMB Equities Research encouraged by Lafarge Malaysia's 2Q17 performance
CIMB Equities Research is maintaining a 'Hold' verdict on Lafarge Malaysia. The research entity said on Monday it had raised its target price to MYR6.34 (US$1.50) from MYR5.50 (US$1.30). CIMB Research said it came away from Lafarge’s post-2Q17 results briefing last week with positive expectations of a gradual recovery in domestic cement demand, but it remains cautious on the earnings outlook...
Pacific Cement output expected to rise by over 50%
Cement production at Pacific Cement Ltd, Fiji, is forecast to increase by more than half following the company’s upgrades, according to the company’s CEO, Sowani Tuidrola. “The mill production will greatly increase as it will go back to 100 per cent of which at this point we are producing at around 18tph and we will go back to about 25tph,” said Mr Tuidrola. The cement plant is over 7...
Eagle Cement secures alliance with construction giant
In anticipation of a massive rise in domestic infrastructure-building, Philippines-based Eagle Cement Corp has entered into a strategic alliance of cement supply with Yuchengco family-led construction firm EEI Corp. The new deal is set to strengthen the existing partnership between the two companies by expanding the list of EEI projects that Eagle will supply cement to, as the Philippines en...
August brings 12% sales boost for INC
Paraguay’s Industria Nacional del Cemento (INC) saw its sales increase 12 per cent YoY in August as it sold 1,286,339 bags of cement in the country. In August 2016 the cement producer sold 1,148,529 bags. In the year to date, 8,745,627 bags were sold. In 2016 INC sales reached 13,202,803 and the company expects to surpass this figure this year. While INC President, Jorge Méndez, is confide...
Baturaja II plant will start commercial operations this month
The Semen Baturaja II plant of Baturaja Cement Corp will start commercial operations this September after undergoing two months of trials. According to Baturaja Cement's General Director, Rahmad Pribadi, the schedule for operations was moved ahead by a month, from 1 October. The Indonesian plant will increase the overall production capacity at the site by 1.85Mta. The Baturaja II works will...
Loma Negra to double-list
Argentina’s Loma Negra has followed up its initial public offering (IPO) in New York with an offering on the domestic stock exchange, according to Brazil’s Valor newspaper. Analysts forecast the domestic float, expected as early as this month, could bring more than US$100m to the company’s coffers. The cement producer will use the funds to expand its Amali works, a project which require...
Hsing Ta revenues up 34% YoY in Aug 2017
Taiwanese cement producer Hsing Ta sees revenues up 33.6 per cent to TWD487.484m (US$16.24m) in August 2017 from TWD364.687m in August 2016m, according to the Taiwan Stock Exchange. In the first eight months of 2017, the company’s revenues rose 20.2 per cent YoY from TWD2.68bn to TWD3.222bn.
Vietnam's Long Son Line 2 enters operation
Long Son Co Ltd has successfully brought its second production line of its Long Son cement plant in Thanh Hoa, into production, raising the plant’s capacity to 14,000tpd (5Mta). Located in Dong Son, in the town of Bim Son, the works counts as one of the country’s largest cement works, according to Viet Nam News.
New Country CEO for Lafarge South Africa
Rossen Papazov has been appointed country chief executive officer (CCEO) of Lafarge South Africa Holdings, effective 1 October 2017. For the last four years, Papazov has been CCEO for Holcim (later LafargeHolcim) in Azerbaijan. Papazov joined the international Holcim group in 2000 as the business development manager for Bulgaria. He went on to undertake a number of other management positions...
S&PGR upgrades Anhui Conch Cement
S&P Global Ratings (S&PGR) today raised its long-term corporate credit rating on Anhui Conch Cement Co. Ltd. (Conch Cement) to 'A' from 'A-'. The outlook is stable. "We raised the rating on Conch Cement because we expect the company to continue to lower its financial leverage over the next 12-24 months owing to a likely improvement in its operating efficiency and a disciplined approach to i...
Loma Negra files for IPO
Argentine cement maker Loma Negra Corp has filed for an initial public offering, according to a SEC filing late Tuesday. "We believe that the economic recovery of Argentina represents one of the most attractive opportunities in global emerging markets today," the company said in the filing. "Cement consumption is highly correlated to economic activity and we expect demand for cement to ...
Ndeta set to gain controlling stake in Savannah Cement
Businessman Benson Ndeta is set to take controlling stake of Kenya-based Savannah Cement after he gained regulatory approval for a deal that would increase his interest in the company by 29.4 per cent. In a press release, the Competition Authority of Kenya said it had granted Mr Ndeta’s acquisition of Savannah Cement unconditional approval, according to local press reports. Savannah Cement ...