Cement News tagged under: Corporate
Alain Bourguignon, Marc Soule join Holcim's asset sale committee02 October 2014, Published under Cement NewsHolcim, which is set to merge with French peer Lafarge in 2015, has named Alain Bourguignon and Marc Soule members of the asset sale committee. Bourguignon was so far in charge of Canada, UK and USA, while Soule was Lafarge's performance management director. Roland Koehler, Holcim's director for continental Europe, will also take on the British market, while Andrea Leu, who is director for South America, will be in charge of Canada and USA. (Abstracted from an original article in Le Fig... |
Cemex enters new US$1.35bn credit agreement01 October 2014, Published under Cement NewsCemex SAB de CV announced it entered a new credit agreement for US$1.35bn with nine of the main lending banks from its Facilities Agreement of 17 September 2012. The new agreement’s main terms include an average four-year term with equal semi-annual payments of principal of 20 per cent each, with a three-year grace period and September 2019 as the last payment date. In addition, there will be a spread over LIBOR of 250-375 basis points, depending on the level of leverage of the company, an... |
Reliance Infrastructure plans to triple capacity to 15Mta by 201701 October 2014, Published under Cement NewsIndia’s Reliance Infrastructure plans to nearly triple its cement capacity to 15Mta over the next three years. The current capacity at the company, led by Anil Ambani, is 5.8Mta as the cement producers operates plants in Madhya Pradesh, Maharashtra, Uttar Pradesh and Bengal. "We will be tripling our cement capacity in the next three years by setting up new plants in MP and Maharashtra," company chairman Anil Ambani told shareholders. He added that expected new road projects will offer ... |
Zuari Cement hosts groundbreaking for Gulbarga plant01 October 2014, Published under Cement NewsThrough its Gulbarga Cement Ltd (GCL) subsidiary, Zuari Cement plans to build a 3.23Mta cement works in Gulbarga, Karnataka, India. In addition, the company will be setting up a 50MW captive power plant. The foundation stone of the new plant, which is located 28km from Gulbarga on the Gulbarga-Bangalore highway, was laid on 30 September, by Francis along with Ramesh Suryanarayana, director business development, who was accompanied by the local employees of Gulbarga Cement headed by site ma... |
Summit Materials in line for cement IPO?01 October 2014, Published under Cement NewsSummit Materials LLC, which is co-founded by Blackstone Group LP, is preparing an initial public offering (IPO) this year as concrete deals intensify, according to sources quoted by Bloomberg. The sharesale will be manage by Goldman Sachs Group Inc and Citigroup Inc and it is expected that the Denver-based cement company could be valued at about US$2.5bn in the IPO. Summit Materials was formed about five years ago by CEO Tom W Hill, previously North American head of building materials... |
Cohrs elected chairman of CTLGroup Board of Directors30 September 2014, Published under Cement NewsThe CTLGroup Board of Directors elected Cary O. Cohrs as chairman during the organisation’s recent autumn board meeting in Chicago, Illinois, USA “Cary Cohrs brings a wealth of construction-related leadership to the CTLGroup Board,” Brent Nixon, CTLGroup president/CEO said. “We are excited to work with him in his new role as chairman, developing building solutions and new technologies to grow our global markets.” “CTLGroup has a worldwide reputation as a firm of experts who solve compl... |
Chinese companies ink Indonesian plant agreement26 September 2014, Published under Cement NewsTwo Chinese companies signed an agreement on Thursday to jointly invest in an Indonesian cement factory as part of investment cooperation measures agreed by the two countries in 2013. State Development and Investment Corp (SDIC) and Anhui Conch Cement Company (Conch) will fund the project of building production lines and relevant facilities of the factory located in West Papua Province. After the construction is completed, the factory will have a capacity of 3Mta, serving for Indonesia'... |
Sagar gets Board nod for BMM acquisition25 September 2014, Published under Cement NewsThe board of Sagar Cements has given approval in-principle for the acquisition of a 100 per cent equity stake in BMM Cements Ltd as the company seeks to expand its presence in southern India. The deal involves the acquisition of a 1Mta cement plant and a 25MW captive thermal power plant in Gudipadu, near Tadipatri Anantapur district in the state of Andhra Pradesh. Successful completion of the transaction is subject to further negotiation to arrive at the acquisition price and other term... |
Semen Indonesia seeks loan for Papua plant construction25 September 2014, Published under Cement NewsSemen Indonesia is seeking IDR600-IDR840bn(US$50-70m) in bank loans to help finance construction of a new cement plant in Jayapura, Papua, according to reports by the Jakarta Globe. Indonesia's largest cement producer has recently announced its intention to construct the first cement plant in the country's most eastern-most province to meet the region's demand potential and reduce distribution and logistic costs. “For the Papua plant, we will seek external funds like from loans on top of e... |
South Valley Cement 1H net profit reaches EGP64.9m25 September 2014, Published under Cement NewsEgyptian cement producer South Valley Cement Co said yesterday its first-half net profit increased to EGP64.9m (US$9.07m). In the comparative period of the previous year, the company’s net profit stood at EGP 57.8m. |