Cement News tagged under: Corporate
Fiji: Holcim JV sells stake in Pacific Cement Ltd19 September 2014, Published under Cement NewsSouth Pacific Cement, a joint venture between Holcim New Zealand and Fletcher Building Ltd, has sold its 47 per cent stake in Pacific Cement Ltd (PCL) to the Vinod Patel Group. PCL is a joint venture with Fijian Holdings Ltd (FHL), which holds a 51 per cent stake. The balance of shares is owned publicly. The company was the first cement manufacturer in the country with a production capacity of 0.2Mta. FHL group chairman, Iowane Naiveli said the Vinod Patel Group had become a strategic... |
Seychelles: Lafarge to open 4000t cement silo19 September 2014, Published under Cement NewsLafarge is developing a 4000t cement silo in the Seychelles in partnership with Sri Lankan engineering company Dynamic Technologies. The structure will be built in Sri Lanka and shipped to the Indian Ocean island. The France-based cement producer and the engineering company developed a similar facility in Mayotte earlier this year. |
Bruno Roux appointed President and CEO for Lafarge Eastern Canada18 September 2014, Published under Cement NewsBruno Roux has been appointed President and Chief Executive Officer for the Eastern Canada business unit of Lafarge Canada Inc. In his new role, Mr Roux will serve as Lafarge's senior leader for all market areas and product lines in Ontario, Quebec, and the Atlantic provinces. Mr Roux will also join the Board of Directors of Lafarge Canada Inc. Mr Roux's responsibilities include all operational, sales, marketing and functional elements of the cement, aggregates and ready-mix concrete prod... |
Vietnam approves Vicem privatisation schedule18 September 2014, Published under Cement NewsVietnam’s Ministry of Construction has approved the privatisation schedule of Vietnam Cement Industry Corporation (Vicem), the country's largest cement producer, under which Vicem will have to sell shares of its parent firm in October 2015. Vicem has been required to announce its corporate valuation by the end of April and submit its privatisation plan to the ministry by end-June, the Dau Tu newspaper reported. Vicem is one of the 432 state-run companies that have to undergo privatisati... |
FCC to transfer rescue funds to Portland Valderrivas17 September 2014, Published under Cement NewsSpanish builder Fomento de Construcciones & Contratas SA (FCC) is to help its cement unit Cementos Portland Valderrivas make a debt payment by transferring rescue funds, according to reports by Bloomberg citing sources familiar with the matter. FCC has reportedly received approval to creditors to transfer some EUR20m to Cementos Portland, which owes lenders EUR50m on 30 September, the sources said. Meeting the payment deadline this month will buy the Spanish cement producer more time to re... |
Lafarge Africa completes consolidation process17 September 2014, Published under Cement NewsLafarge Africa Plc, formerly Lafarge Cement Wapco Nigeria Plc, has announced the completion of its acquisition of the Lafarge group’s shareholdings in Lafarge South Africa Holdings and United Cement Co of Nigeria. Guillaume Roux, Lafarge Africa Group Chief Executive Officer, told reporters in Lagos yesterday that the company had received all shareholder and regulator approvals and met all the necessary requirements to form the merged company comprising Lafarge’s South Africa and Nigerian in... |
Lucky alters ownership structure of coal-based power project17 September 2014, Published under Cement NewsLucky Cement has announced a change in the planned structure of its 660MW coal-based power plant, according to a company notice issued to the Karachi Stock Exchange, The board of directors of Lucky Cement has decided that Lucky Electric Power Company Ltd will be a wholly-owned subsidiary of Lucky Cement instead of Lucky Holdings Ltd. Intially, the group planned to set p the power plant as a wholly-owned subsidiary under the 75 per cent-owned ubsidiary Lucky Holdings Ltd. While the ... |
Lafarge to sell Russian plant to Buzzi Unicem16 September 2014, Published under Cement NewsBuzzi Unicem, through its fully-owned subsidiary Dyckerhoff GmbH, has reached an agreement to acquire a 100 per cent interest in Lafarge's UralCement plant in Russia for an enterprise value of EUR104m. The 1.1Mta wet-process plant is located in the town of Korkino, some 40km south of Chelyabinks. The transaction is subject to authorisation from relevant authorities. The divestment will contribute to Lafarge's objective to reduce net debt, the French cement major said in statement release... |
Hanson Building Products files for IPO16 September 2014, Published under Cement NewsHeidelbergCement announced that its subsidiary, Hanson Building Products Ltd, has filed a registration statement with the US Securities and Exchange Commission for a potential initial public offering (IPO) of its ordinary shares. The move is part of HeidelbergCement’s plan to divest a significant portion of its building products business in North America and the UK. The number of shares to be offered and the price range for the potential offering have not yet been determined, HeidelbergCeme... |
Steppe swings to first-half loss16 September 2014, Published under Cement NewsKazakhstan cement producer Steppe Cement Ltd posted a consolidated loss after tax of US$4.1m for the six months ended 30 June 2014 against a profit of US$2.2m in the comparative period of last year. Sales increased by 26 per cent in volume and 16 per cent in tenge (KZT) in 1H14 against 1H13. However, as a consequence of the February devaluation of the KZT against the USD, turnover in US dollars decreased by five per cent. The average ex-factory price declined from KZT12,084/t in 2013 to... |