Cement News tagged: Corporate
Semen Baturaja sales up by a quarter
Indonesia's state-owned cement producer PT Semen Baturaja Tbk has posted sales of over 600,000t so far this year, up 25 per cent from the same period last year, Reuters reported citing an article in the Investor Daily Several projects kicking off in South Sumatra contributed to the sales, which have reached only 38 per cent of this year's target of 1.75Mt, the paper reported Zulfikri Subri, ...
Paraguay: INC continues operations during kiln repair
Industria Nacional de Cemento announced that it has sufficient clinker stock to continue operations for more than 30 days following technical issues at its kiln in Vallemi. It expects repairs to be completed on Wednesday. At present, INC produces over 55,000 bags of cement per day and over the past six months has dispatched 6.5m bags, up 14 per cent YoY and 30 per cent when compared with 2013.
Yanbu 2Q earnings rise to SAR246m
Saudi producer Yanbu Cement Co (YCC) posted SAR246m (US$66m) in net earnings for the second quarter of 2015, rising 2.07 per cent compared with SAR241m in the same period a year earlier. The six-month earnings rose 1.57 per cent YoY from SAR446m to SAR453m.
CRH facing €32m Swiss fine
CRH is facing a €32m a fine from the Swiss Competition Commission (Comco) following an investigation into the bathroom fixtures and fittings industry. In a statement released on Friday CRH confirmed that Comco is imposing a CHF80m fine on the Association of Swiss Wholesalers of the Sanitary Industry, including a fine of approximately CHF34m (€32m) on CRH plc. The basis of the competition w...
UltraTech Cement non-executive director resigns
UltraTech Cement Ltd has informed the Bombay Stock Exchange that Adesh Gupta, non-executive director has resigned from the Board of the Company with effect from 30 June 2015.
Verkhnebakanskiy Cement Works board elects chairman
The Board of Directors of Russia-based Verkhnebakanskiy Cement Works on 1 July 2015 elected Lev Kvetnoy as chairman of the Board.
CTP Sinto America receives Holcim (US) order
CTP Sinto America entered into a contract with Holcim (US) Inc to supply air pollution control equipment for reduction of emissions from one of the cement kilns at its Midlothian facility. In this project, exhaust gases from the main baghouse and coal mill baghouse are combined and sent to the new system and then directed to the existing wet scrubber. The project scope includes supply and i...
West China Cement issues first-half profit warning
West China Cement Ltd said Wednesday it expects to record a "significant decrease" in net profit for the six months ended June compared with a year ago. The Hong Kong-listed cement producer said the anticipated decline is mainly attributed to the low average selling price of cement over the past 12 months. The company also said it was unable to maintain "reasonable selling prices and healthy ...
Sika acquires full control of Buzzi joint venture
Sika AG acquired the remaining shares of the Italian-based Addiment Italia from its joint venture partner Buzzi Unicem. The company is active in the production and sale of concrete admixtures and cement grinding aids. The transaction will strengthen Sika's production set up in Italy and increase its market presence. Addiment Italia generated sales of EUR14m in 2014. Addiment Italia has a his...
Magnesita and ACIS announce agreement for global cement greenfield projects
Magnesita Refratários SA, a publicly-traded Brazilian corporation dedicated to mining, production and sales of refractory materials and industrial minerals, announced an agreement with ACIS, a cement maintenance and operations service company based in China and Saudi Arabia. Under the agreement ACIS will expand its service offering with Magnesita’s refractory products in support of global c...
Fitch upgrades TCL's IDRs to 'B-'; Outlook Stable
Fitch Ratings has upgraded the Foreign and Local currency Issuer Default Ratings (IDRs) of Trinidad Cement Ltd (TCL) to 'B-' from 'D' and assigned an expected rating to the company's proposed senior secured term loan of 'B-(EXP)/RR4'. The rating Outlook is Stable The upgrade reflects the restructuring steps TCL has taken under the increased ownership, support and strategic guidance from Cem...
KKR backs SIMEC to invest in ABG Cement, India
Private equity firm KKR is teaming up with diversified trading and commodities group SIMEC to invest INR9bn (US$141.5m) to take over the cement business of debt-laden ABG Group. The funding will help complete the delayed 5.8Mta cement project in Gujarat, multiple sources have told the Economic Times of India. The deal will be undertaken through a multi-tiered financial transaction. The first...
Titan postpones dividend payment
Greece's Titan Cement Co said yesterday that it would postpone its 2014 dividend payment, due on 1 July 2015 because of the bank holiday announced by the Greek government on Sunday. "Here will be a new announcement regarding the new date and the method of payment," of the dividend, the company said.
Brazil: Semapa acquires full control of Supremo Cimentos
Semapa has concluded the acquisition of full control of Supremo Cimentos, a Brazilian company in which it already held a 50 per cent stake. The purchase of the 50 per cent of Supremo Cimentos that Semapa did not yet own was announced in April, but was dependent on the fulfilment of several conditions, which have now been verified. Therefore, Secil through its affiliated company Ciminpart ...
HeidelbergCement to merge Romanian subsidiaries
HeidelbergCement will merge its three subsidiaries in Romania – Carpatcement Holding, Carpat Beton and Carpat Agregate – into a single company, according to the Romanian Insider. The new company will be called HeidelbergCement Romania. Carpatcement Holding has three cement factories in Romania, whereas Carpat Beton owns 18 concrete stations and Carpat Agregate operates 14 quarries and aggrega...
China: UBS lowers CRC target price, earnings estimates
UBS Global Research lowered its target price for China Resources Cement (CRC) to HK$4.8 from HK$5.3, and maintained its 'neutral' rating. The research house said CRC has underperformed the Hang Seng China Enterprises Index (HSCEI) by 39ppt over the past six months, which it attributed mainly to stretched fundamentals in its key market of southern China. Year-to-date, the average selling pric...