Cement News tagged under: Weekly Newsletter
Loma Negra board to consider equity offering13 June 2017, Published under Cement NewsCimpor announced that the board of directors of its subsidiary, Loma Negra (Argentina) has called for an Extraordinary General Meeting (EGM) to consider the necessary moves required for it to pursue an equity offering on the local and international capital markets. The move is among the initiatives undertaken by Cimpor “to reinforce its capital structure,” the parent company said in a statement. The EGM will be held on 3 July in Olavarría, Argentina. |
PPC revenue growth supported by rest of Africa cement business08 June 2017, Published under Cement NewsPPC reported that group revenues for the year ending March 2017 rose by five per cent to ZAR9641m (US$750m). The growth was supported by the rest of Africa cement business where revenues rose by nine per cent, and the aggregates and ready-mix segment which saw revenues increase by 23 per cent. Group EBITDA decreased by 13 per cent to ZAR2065m while the EBITDA margin achieved was 21.4 per cent (March 2016: 26 per cent). The decline was mainly attributable to the southern Africa cement seg... |
Cemex Philippines sees 2H acceleration08 June 2017, Published under Cement NewsCemex Holdings Philippines Inc is optimistic that its sales volumes will recover from the subdued first quarter and grow by three per cent by the end of the year from the 5.1Mt of cement it sold in 2016, the Manila Bulletin reports. In an interview after the firm's annual stockholders' meeting, Cemex Vice President for Communications, Marketing and Investor Relations, Paul Vincent Arcenas, said they expect a rebound in sales volume in the second half of the year. "The second half is (e... |
Vietnam Jan-May sales up 6%07 June 2017, Published under Cement NewsVietnam sold 33.27Mt of cement in the first five months of this year, an increase of six per cent YoY, fulfilling 41.58 per cent of the whole-year target, the country's Ministry of Construction said. The volume included 24.76Mt of domestic sales, up one per cent YoY, and 8.5Mt of exports, the ministry added. However, local cement producers have encountered difficulties in promoting exports of their clinker and cement due to export duties. These have directly affected domestic cement p... |
Kohat Cement announces new line construction07 June 2017, Published under Cement NewsKohat Cement Co is to construct a new 7800tpd production line at its cement plant Khyber Pakhtunkhwa province, the company informed the Pakistan Stock Exchange on 6 June 2017. The new project will also include a waste heat recovery unit. The additional capacity is expected to boost the company’s market share by four per cent to 9.2 per cent. Kohat currently has grey clinker and cement capacities of 2.5Mta and 2.8Mta, respectively. Earlier, the company said the installation of a 105tph... |
S&P upgrades GCC rating06 June 2017, Published under Cement NewsS&P Global Ratings has raised its long-term corporate rating on Grupo Cementos de Chihuahua to 'BB' from 'BB-'. The outlook is stable. At the same time, S&P raised the issue-level rating on the $260m senior secured notes due 2020 to 'BB' from 'BB-'. Following GCC's acquisition of various assets from Cemex in 4Q16 for approximately US$306m (consisting of one cement plant in Texas, two cement terminals located in Amarillo and El Paso, Texas and the concrete, aggregates, asphalt and bu... |
Pacific Cement expected to be shutdown until July05 June 2017, Published under Cement NewsPacific Cement Ltd (PCL) announced that it is unable to meet the domestic cement demand in Fiji, due to the age of its factory which is contantly out of action. Sowani Tuidrola, PCL's chief executive, says they stopped production two weeks ago due to a major breakdown at the factory. “The local demand here is big, more than what it was in the past and the second reason is that our factory at the moment is facing some mechanical problems. So one of those primary parts of the mill is actu... |
Orient Cement to acquire two Jaypee units01 June 2017, Published under Cement NewsOrient Cement has reached an agreement to buy two cement units from Jaypee in the central and eastern regions of India. Orient will buy a 74 per stake in Bhilai which is a joint venture between Jaiprakash Associates Ltd (JAL) and Steel Authority of India Ltd (SAIL). Bhilai has an integrated PSC cement capacity of 2.2Mta consisting of a clinker unit in Satna area in Madhya Pradesh and a grinding unit in Bhilai, Chhattisgarh. Another agreement was signed for the acquisition of the 2Mta Nig... |
Vulcan Materials to acquire Aggregates USA31 May 2017, Published under Cement NewsVulcan Materials Co has reached a definitive agreement with SPO Partners to acquire its aggregates business, Aggregates USA LLC for US$900m in cash. Aggregates USA LLC operates 31 facilities serving high growth markets in Georgia, Florida, Tennessee, South Carolina and Virginia. "We are pleased to have reached agreement with SPO Partners for these strategic assets, which enhance our ability to serve high growth markets throughout the southeastern US," said Vulcan's Chairman and CEO, Tom H... |
LafargeHolcim to start share buy-back programme31 May 2017, Published under Cement NewsLafargeHolcim announces that it will start its share buy-back programme of up to CHF1bn (EUR916.9m) over 2017-18 on 1 June 2017. The programme that was initially announced at the Capital Markets Day on 18 November 2016 and authorised by the Board of Directors on 26 January 2017, will be conducted using a second trading line on the SIX Swiss Exchange. UBS AG has been mandated as the execution agent to make the share repurchases on behalf of LafargeHolcim. The second trading line is expecte... |