Cement News tagged: Corporate
CTLGroup appoints new CFO
CTLGroup has announced the appointment of David Mizwicki as Vice President and Chief Financial Officer. Mr Mizwicki will assume the responsibility for financial management, business performance and leadership of finance and accounting within the organisation, the engineering and materials science firm said in a statement. Prior to joining CTL Group Mr. Mizwicki has held several senior leaders...
Vulcan raises US$700m in public offering of senior unsecured notes
Vulcan Materials Company has raised US$700m in a public offering of senior unsecured 4.50 per cent notes due 2047. The notes bear an interest rate of 4.5 per cent per annum, payable semi-annually on 15 June and 15 December of each year, beginning from 15 December 2017. The notes will mature on 15 June 2047. The notes were issued at a price of 99.624 per cent plus accrued interest, if any, ...
Eagle Materials chairman to retire from board
Eagle Materials Inc announced that Laurence E Hirsch, chairman, informed he has decided to retire from the board. Richard R Stewart, currently vice chairman of Eagle Material, will succeed Hirsch as chairman.
Chad: President Idriss Déby opens CIMAF plant
Chad’s President, Idriss Déby Itno, inaugurated on Monday the new Lamadji cement plant just north of the capital, N’Djaména. The works marks the cooperation between the country and Morocco’s CIMAF and represents an investment of XOF23bn. It has a cement capacity of 0.5Mta, which can be further expanded to 1Mta.
Loma Negra board to consider equity offering
Cimpor announced that the board of directors of its subsidiary, Loma Negra (Argentina) has called for an Extraordinary General Meeting (EGM) to consider the necessary moves required for it to pursue an equity offering on the local and international capital markets. The move is among the initiatives undertaken by Cimpor “to reinforce its capital structure,” the parent company said in a stateme...
Semen Indonesia Jan-May sales up 10%
PT Semen Indonesia has recorded a 10 per cent increase in sales over the January-May 2017 period despite tough competition and a slower-than-expected uptake in infrastructure projects. "Sales in the period from January to May 2017 were up 10 per cent from last year," the company's Head of Communication, Sigit Wahono, told local press on Friday. He said sales in May were recorded at 2.9Mt, ...
Birla Corp reports strong 4QFY16-17
Cost efficiencies and good price realisations helped India-based Birla Corp post strong results in the final quarter of FY16-17. Revenue increased by six per cent YoY during the quarter driven by price realisation for the period which was up by 11 per cent YoY to INR4514 (US$70.1)/t. EBITDA was INR949m, down ~8 per cent yoy chiefly due to the cement division's lower-than-expected EBIT mar...
Lafarge Africa shareholders approve rights issue
Shareholders of Lafarge Africa Plc on Wednesday approved a proposal to raise NGN140bn (US$442m) in new capital for the cement group, local media have reported. The new capital raising will be undertaken through a rights issue, issuance of pre-allotted shares to existing shareholders in proportionate to their shareholdings. At the company's AGM in Lagos, shareholders mandated the board of...
Cemex to boost investment in Egypt
Cemex plans to boost its investments in Egypt, according to Cemex Egypt’s President, Ramon Piza. The company, which owns a 5.5Mta plant at Assiut, plans to invest US$20m in the country this year, Piza said following a recent meeting with Egyptian Minister of Investment and International Cooperation, Sahar Nasr, in Cairo, according to Egypt Daily news. Mr Nasr has welcomed the Mexican company...
Cal & Cemento Sur doubles capacity
Grupo Gloria has announced that the expansion of the Cal & Cemento Sur plant in Caracoto-Juliaca, Puno in southern Peru is in full swing. The project will double the current 1000tpd capacity following a US$80m investment. The upgraded plant is expected to come online at the end of this year. Cal & Cemento Sur will dispatch its product, Cal Viva, to the mining sector.
PPC revenue growth supported by rest of Africa cement business
PPC reported that group revenues for the year ending March 2017 rose by five per cent to ZAR9641m (US$750m). The growth was supported by the rest of Africa cement business where revenues rose by nine per cent, and the aggregates and ready-mix segment which saw revenues increase by 23 per cent. Group EBITDA decreased by 13 per cent to ZAR2065m while the EBITDA margin achieved was 21.4 per ce...
New manager of Beumer's cement business sector
Michael Brachthäuser has been appointed manager of the Beumer Group's cement business sector. A native of Cologne, Mr Brachthäuser (61) was appointed to the role in October 2016. He has previously worked as sales manager for a plant engineering company for the cement and ore industry, a leading international power station builder and a supplier of equipment and services for the cement indust...
HeidelbergCement issues a Eurobond
HeidelbergCement priced a Eurobond issue under its EUR10bn Euro medium-term note (EMTN) programme with an issuance volume of EUR500m and a maturity date of 14 June 2027. The proceeds of the transaction will be used for general corporate purposes and the refinancing of upcoming maturities. The 10-year bond bears a fixed coupon of 1.500 per cent per annum. The issue price is at 98.891 per cent,...
S&P upgrades GCC rating
S&P Global Ratings has raised its long-term corporate rating on Grupo Cementos de Chihuahua to 'BB' from 'BB-'. The outlook is stable. At the same time, S&P raised the issue-level rating on the $260m senior secured notes due 2020 to 'BB' from 'BB-'. Following GCC's acquisition of various assets from Cemex in 4Q16 for approximately US$306m (consisting of one cement plant in Texas, two ...
Building collapses at Holcim Obourg
A collapse of a building near one of the kilns of Holcim’s 1.4Mta Obourg plant in Belgium on 23 May has resulted in the death of one worker and the closure of the plant as an investigation takes place into the causes of the collapse. Emergency services were promptly at the scene but the heavy damage to the structure of the building required further specialist help to locate the at first mis...
PT Semen Padang puts Indarung VI output at 2Mt
PT Semen Padang expects the output of its Indarung VI line to reach 2Mt this year as the 3Mta plant produced 0.5Mt of cement at the end of May, four months after its commissioning. Semen Padang saw domestic sales in the first four months of the year reach 1.8Mt, down 4.8 per cent YoY, according to the company’s President Director, Benny Wendry. However, exports more than quadrupled to 294,9...