Cement News tagged under: Corporate
Unacem plans to invest US$58m in 201509 September 2014, Published under Cement NewsPeru's Unacem intends to invest US$58m in its Atocongo and Condorcocho works next year. The projects focus on the development of the Carpapata III hydropower plant, the cement mill and packing area (Condorcocha) as well as capacity expansions and other investments in fixed assets. This year, investments in its subsidiaries total US$545m as it signed a deal with Lafarge to acquire the latter's Ecuadorian cement subsidiary in June. Lafarge sales in the country are expected to reach US$190m.... |
Indebted CPV outlines debt refinancing plan, Spain08 September 2014, Published under Cement NewsCementos Portland Valderrivas (CPV), the leading cement producer in Spain with operations in North America and Tunisia, has released a statement outlining its plans to refinance a total of EUR969m debt, according to a report in Estrategia de Inversion (Spain). In the short term, the company is struggling to keep on top of maturing debt and was forced to release a statement confirming that it had received "unanimous agreement of all creditors to extend the maturity of EUR50m maturing on 30 J... |
Fitch Assigns 'BB -' Ratings to CEMEX's Notes08 September 2014, Published under Cement NewsFitch Ratings has assigned expected ratings of 'BB-/RR3(EXP)' to Cemex's proposed USD notes due in 2025 and its proposed Euro notes due in 2022. Proceeds from the Euro notes issuance will be used for general corporate purposes, including the repayment of indebtedness under Cemex's Facilities Agreement. Proceeds from the USD issuance will be used for general corporate purposes, including the repurchase of a portion of the company's outstanding 2018 and 2020 notes. The Rating Outlook for Cemex... |
Aumund India to equip Wonder Cement's Line 208 September 2014, Published under Cement NewsA major contract was signed recently by Aumund India to furnish all necessary machines for a second production line at Wonder Cement's plant at Nimbahera, Rajasthan. The contract worth EUR5m includes 32 items of equipment from Aumund's product portfolio. Due to positive experiences in servicing and supplying Nimbahara Line 1, Aumund India was invited to tender for the installation of Line II. After a short period of intensive negotiations, Raju Gupta, managing director of Aumund India and ... |
CCNN first-half net income boosted by cost cuts, Nigeria08 September 2014, Published under Cement NewsThe Cement Company of Northern Nigeria (CCNN) achieved a 91 per cent increase in profit for the first six months of the year helped by a reduction in operating and financing costs. For the first six months to the end of June, the Sokoto-based company’s net profit climbed to NGN1.58bn from NGN832.2m in the same period of last year. The rise is attributed cost control measures as distribution and administrative expenses fell by 44 per cent to NGN1.32bn in 1H14 from NGN2.34bn versus 1H13. Si... |
Sagar Cement completes sale of joint-venture stake08 September 2014, Published under Cement NewsSagar Cements has completed the sale of its stake in Vicat Sagar Cement, therefore formalising its exit from the joint-venture company. In mid-July an agreement had been reached whereby Sagar Cements would sell its entire 47 per cent stake in the collaboration to Vicat for INR66.86/share (US$1.1). The company had earlier obtained approval from shareholders through postal ballot for the sale of the investment held in Vicat Sagar Cement. The joint venture was set up in 2008 and the 2.75Mt... |
Lafarge Holcim merger cleared in Singapore08 September 2014, Published under Cement NewsThe Competition Commission of Singapore (CCS) has given Lafarge and Holcim the greenlight to merge their businesses in the country. Holcim Singapore manufactures and supplies ready-mix concrete to customers. Holcim also imports grey cement. Similarly, Lafarge Singapore imports and supplies cement to third-parties in Singapore. Lafarge, through its subsidiary and joint venture partner, manufactures and supplies ready-mix concrete in Singapore. After a public consultation exercise, the CS... |
Cemex announces pricing on Senior Secured Notes05 September 2014, Published under Cement NewsCemex announced the pricing of EUR400m of its 4.750 per cent Senior Secured Notes due 2022 denominated in euros and US$1.1bn of its 5.700 per cent Senior Secured Notes due 2025 denominated in US dollars. The Euro Notes will bear interest at an annual rate of 4.750 per cent and mature on January 11, 2022. The Euro Notes will be issued at par and will be callable commencing on 11 January 2018. The US Dollar Notes will bear interest at an annual rate of 5.700 per cent and mature on 11 January ... |
WCC raises US$400m in bond offering, China05 September 2014, Published under Cement NewsWest China Cement (WCC) has raised US$400m in a five-year bond deal with proceeds intended to refinance the same amount of debt. With an order book of US$4bn from 260 institutional accounts, the latest bond deal offered investors a coupon rate of 6.5 per cent, compared with 7.5 per cent on the previous five-year bond that matures in 2016, according to a term sheet seen by the South China Morning Post. At the subscription level the deal was well received by fund investors, who represente... |
Semapa 1H14 cement turnover up 5.3 per cent YoY04 September 2014, Published under Cement NewsSemapa, the Portuguese holding company that controls cement maker Secil, said turnover from its cement business operating rose 5.3 per cent YoY to EUR217.3m, driven mainly by increased exports from its home market of Portugal. In its domestic market of Portugal, Secil recorded a turnover of EUR91.2m, up 11 per cent YoY. Export revenue increased by 20.6 per cent YoY and accounted for 68.2 per cent of total sales volumes. Overall, domestic sales volumes were down 1.5 per cent YoY. However, l... |