Cement News tagged: Corporate
Votorantim Cimentos unveils terms of IPO, Brazil
Brazil’s leading cement producer, Votorantim Cimentos, has announced terms of its initial public offering (IPO) to fund further expansion, acquisitions and improvements in efficiency. In a preliminary prospectus, the company expects to sell 400 million units, with each unit expected to price between BRL16 (US$7.80) and BRL19. Each unit consists of one common share and two preferred shares. ...
Cement demand in Belgium falls 2.2% while imports rise
Cement demand in Belgium declined 2.2 per cent to 6.41Mt but this decrease was well below the European average decline of 18.8 per cent, according to Belgian cement association Febelcem. Febelcem attributes the figure to local elections, which historically boost public works. The non-residential sector also expanded by three per cent thanks to a numbmer of large projects in Mechelen, Ghent ...
China Resources Cement in talks with Fujian Cement over joint venture
Two leading China-based cement producers, China Resources Cement and Fujian Cement, are reported to be in discussions to set up a joint venture grinding plant as well as a sales and marketing company, according to reports by local press. No agreement has been confirmed yet. China Resources Cement is also in discussions with Fujian Energy Group Company Ltd regarding cooperation with Fujian Bu...
Cimpor first-quarter boosted by new profile
Cimpor has reported a 22 per cent rise in turnover and a 15.2 per cent YoY increase in EBITDA for the first quarter of 2013 mainly due to the reshuffling of the group's profile. The performance of the new set of assets recently brought in by InterCement resulted in a contribution to consolidated EBITDA that was four times higher than that of the assets handed over by Cimpor in the asset swap c...
Holcim Philippines to tap debt market
Holcim Philippines is considering the debt market to fund its new US$450-550m cement plant in Norzagaray, Bulacan, the company's chief has said. Speaking to local press, Eduardo Sahagun, president and CEO, said that part of the funds to construct a 2.5Mta plant will come from internally generated income while the bulk will come from the debt market, most likely from local sources. The compa...
San Miguel Corp outlines expansion plans, Philippines
Industrial conglomerate San Miguel Corp (SMC) will spend US$750m to increase production and expand Northern Cement Corp's (NCC) exisiting capacity and construct new facilities. According to SMC company’s president, Ramon S Ang, some US$250m will be used to increase capacity of NCC’s Pangasinan plant, while another US$250m will be used to build a new plant in Southern Luzon. The remaining $2...
Gharibwal Cement sees strong rise in quarterly profit, Pakistan
Pakistan-based cement producer Gharibwal Cement Ltd reported a net profit of the company was PKR178m compared to PKR32.5m for the same period last year, thanks to an increase in sales volumes, net retention prices and cost control. Net sales of the company during the period were PKR1.77bn (US$18m) compared to PKR1.5bn during the same period of last year. Gross profit was PKR338m compared to...
OCC confirms imported cement quality probe, Oman
Oman Cement Company (OCC) has confirmed that the country's Public Authority for Consumer Protection (PACP) has initiated an investigation on the quality of 30,000t of cement imported by the sultanate's second-largest producer. In a filing to the Muscat Securities Market (MSM) on Wednesday, the company said that a team from the PACP visited its premises to inspect the cement it imported and ...
Holcim Apasco to be renamed
Holcim Apasco is to be renamed Holcim México in order to unify the "brand and strengthen its presence as a global leader in the Mexican market," Holcim Latinoamérica's CEO Andreas Leu was quoted as saying by local publication El Universo. Holcim Apasco is Mexcio's second largest cement company with seven plants and a 12.6Mta capacity including the new 1.6Mta Hermosillo works in Sonora, nort...
Lafarge Malayan Cement 1Q13 revenues edge ahead
Lafarge Malayan Cement reported a YoY slight rise in consolidated revenue for the first quarter of 2013 but income from its cement division was impacted by a tough pricing environment. Its 2013 results are expected to be driven by key government infrastructure projects led by the Economic Transformation Programme (ETP) and 10th Malaysia Plan (10MP) and the company is also considering expandin...
Morocco’s cement demand falls 16.5% in first four months
During the first four months of the year, cement demand in Morocco fell by 16.5 per cent from 6Mt to just under 5Mt as the start of the year was affected by heavy rainfall, according to the country’s cement association. In addition, faltering demand from key consumers sent sales on a downward trend. A new tax regime relating to the income of sale of land further restrains the real estate ma...
Hail Cement increases quarterly net loss, Saudi Arabia
Saudi cement producer Hail Cement Co has reported a net loss of SAR13.9m (US$3.7m) for the first quarter of 2013, double the loss recorded in the same period a year ago of SAR6.3m. The company attributed the loss to higher expenses related to launching production, coupled with higher salary costs due to the growing number of employees. Newcomer to the Saudi cement industry, Hail Cement’s 1.6...
Reliance Infrastructure second plant set for September commissioning
Reliance Infrastructure is planning to commission its second cement plant by September this year. The new unit, which will have an annual capacity of 5Mt is being constructed in Maihar, Madhya Pradesh. Speaking on the company's new plant and future expansion plans, Lalit Jalan, chief executive officer of Reliance Infrastructure, said: We plan to take our overall capacity to 20Mta and com...
HeidelbergCement India sells grinding unit to JSW Group
HeidelbergCement India has sold its 0.6Mta grinding facility in Raigad, Maharashtra, to the JSW Group, the company has informed the Bombay Stock Exchange. The acquisition is situated adjacent to the company’s steel plant and will allow JSW to use slag from its steel process in the grinding process. For HeidelbergCement, the disposal of cement facility is in line with company’s aim of divest...
India Cement's net profit hit by rising production and transportation costs
Rising production costs and subdued demand in the southern markets has resulted in India Cements reporting a 31 per cent decline in FY13 net profit. Net profits (consolidated) fell to INR178.62 crore for the fiscal, down from INR259.86 crore last year, while revenues rose nine per cent to INR5159.47 crore from INR4631.04 crore last year. According to N Srinivasan managing director of India...
Peruvian dispatches see double-digit gains
Total cement dispatches by members of Peruvian cement association Asocem reached 3,345,226t in the first four months of this year, rising 12.42 per cent YoY. Domestic dispatches during the period amounted to 3,276,329t , showing a rise of 13.25 per cent on the same period of last year. ??Cement exports, meanwhile, were 68,897t (+41.69 per cent YoY). Production over the four months was 3,344...