Cement News tagged under: corporate
Arabian Cement second-quarter exceeds analysts’ forecasts21 July 2014, Published under Cement NewsSaudi-based Arabian Cement reported a 60.2 per cent rise in second-quarter net profit to SAR199.8m (US$53.3m), beating analysts' forecasts. Al-Rajhi Capital noted that while most cement companies reported weak sales volumes this quarter, Arabian Cement bucked the trend and reported strong sales dispatches (+44 per cent YoY) as the company was relatively unaffected by the broader sector issues. Arabian Cement's performance to the three months to the end of June 2014 beat Al-Rahji Capita... |
Colombia boosts Cemex Latin American Holdings18 July 2014, Published under Cement NewsFirst-half turnover at Cemex Latin American Holdings improved by 6.1 per cent to US$864m while EBITDA declined by 7.5 per cent to US$283.1m. At the trading level there was a 9.5 per cent reduction to US$235.6m. After a net interest charge 19 per cent lower at US$47.6m, the pretax profit emerged 4.8 per cent lower at US$184.2m. The net attributable profit declined by 14.3 per cent to US$121.2m. Net debt at the end of June was 12.3 per cent lower than a year earlier at US$1,237m, giving... |
ARM Cement first-half pretax profit 20% higher YoY18 July 2014, Published under Cement NewsARM Cement's pretax profit rose 20 per cent to KES1.2bn (US$13.68m) in the first half of 2014, the Kenyan firm said on Friday. Total revenue increased by 16 per cent YoY to KES7.6bn with cement sales up by 10 per cent in Kenya and by more than a third in Tanzania. "The east African regional economies are growing briskly, and demand for cement, as well as the other products are expected to grow further," the company said. Its fertilizer line also posted good sales growth after the K... |
Turkey: Cimsa acquires local cement producer17 July 2014, Published under Cement NewsSabanci group company Cimsa has acquired fellow Turkish producer Sancim Bilecik Cimento in a deal reportedly worth US$220.7m. The company signed the contract allowing it to purchase 100 per cent of Sançim Bilecik’s shares, according to a statement released by the Public Disclosure Platform (KAP) The transfer price of the shares, a nominal value of TRY87.5m has been set as US$220.7m, the statement said. Sançim was previously owned by Sönmez Holding (43 per cent), Aunde Teknik (38 per cent)... |
Vicat to take full control of Indian joint venture16 July 2014, Published under Cement NewsVicat is to take 100 per cent control of Vicat Sagar Cements after agreeing to buy out Sagar Cements from the joint venture company. An agreement has been reached whereby Sagar Cements will sell its entire 47 per cent stake in the collaboration for INR66.68 per share (US$1.1). The company said it would use a part of the money to purchase some capital equipment for its Matampally plant, while the remaining amount would help fund organic and inorganic growth in south India. Vicat Sagar ... |
Saudi: Qassim’s 2Q14 net profit slips, sales down 10%16 July 2014, Published under Cement NewsQassim Cement posted a 1.5 per cent decline in net profit for the second quarter of 2014 to SAR161.1m (US$43m). Sales volumes dropped 10 per cent YoY during the three months to the end of June to 1.07Mt on the back of sluggish construction sector activity. Operating profits came in at SAR163.6m. Analysts at Al Rahji Capital have stated that Qassim’s high utilisation rates and its inability to ramp-up capacity have led it to believe that there is “limited upside potential” from current le... |
Cementos Portland renegotiates debt agreement16 July 2014, Published under Cement NewsSpain's Cementos Portland has renegotiated its EUR1.114bn debt with its bank, according to the FCC subsidiary. It is the company's second refinancing in two years after the last agreement in July 2012. In the latest agreement, the company will postpone the payment of EUR50m of liabilities which expired on 30 June to 30 September. The payment follows the 2012 agreement to refinance a syndicated loan. Some 85.32 per cent of its debtors have agreed to sign the agreement – more than the tw... |
Elementia in talks for Lafarge JV stake, Mexico15 July 2014, Published under Cement NewsElementia SA, the Mexican cement maker backed by Carlos Slim and Antonio del Valle, is in talks to buy out partner Lafarge SA in their Mexican joint venture, Bloomberg reported Monday citing people with knowledge of the matter. Elementia reportedly has the right to buy Lafarge's 47 per cent stake under an option in the original terms of the Mexico partnership. Lafarge's move to sell the stake is said to be in line with its proposed merger with Holcim which also has operations in Mexico. It ... |
European Commission objects to Spanish deal14 July 2014, Published under Cement NewsThe European Commission, the antitrust regulator in Europe, has objected to plans by Cemex to acquire Spanish units held by Holcim. In August last year the two cement majors reached an agreement to conduct a series of transactions to swap and combine assets in parts of Europe with the aim of improving synergies and boosting operating profit. However, a source told Reuters last week that: "The European Commission (EC) has sent a statement of objections to the companies," referring ... |
Lafarge expansion to upset Dangote Cement plans?11 July 2014, Published under Cement NewsLafarge Wapco’s shareholders have approved the merger between the Nigerian unit of French cement maker Lafarge, Lafarge Wapco, and its wholly-owned South African subsidiary. The consolidation of the South African unit with Nigeria’s Lafarge Wapco, Lafarge says, will help accelerate its growth on the African continent and expand its product offering in South Africa and across the region. The merger, analysts say, is a clear signal of Lafarge’s intent to compete for a larger share of Africa’... |