Cement News tagged under: Weekly Newsletter
China Shanshui shareholders mull takeover bid22 July 2015, Published under Cement NewsChina Shanshui Cement Group Ltd said two of its largest shareholders are considering a takeover bid, Bloomberg reports. Asia Cement Corp of Taiwan and China National Building Material Co, which together own about 38 per cent of Shanshui Cement, are considering a general cash offer to acquire the shares they don’t already control, the companies said in a statement to Hong Kong’s exchange Tuesday. The proposal by Asia Cement and China National Building Material escalates the fight for contr... |
AI takes ownership of Lafarge Cement assets22 July 2015, Published under Cement NewsAggregate Industries, part of the LafargeHolcim group, is the newest entrant to the cement production market in the UK, having taken ownership of the Cauldon and Cookstown cement plants in the UK. The acquisition of these two plants, along with a quarry at Cauldon Low and a cement terminal at Belfast Docks, was finalised on Monday and involved the transfer of 250 employees from the existing operations to Aggregate Industries. Becoming a cement producer and supplier is the final piece in ... |
Aboitiz Equity to invest in Philippine venture22 July 2015, Published under Cement NewsAboitiz Equity Ventures Inc said it will invest PHP24bn (US$531m) in the cement business after formalising a deal with Irish cement maker CRH Plc to buy the Philippine assets of Lafarge SA, Reuters reports. In May, Aboitiz said it was looking to partner with CRH to buy Lafarge's assets in the Philippines as the local power-to-banking conglomerate sought to diversify into infrastructure. The Philippine units form part of a package of assets that CRH is acquiring from Lafarge and Holcim ... |
TCL reports second-quarter results22 July 2015, Published under Cement NewsHaving successfully refinance its restructured debt, Trinidad Cement Ltd has been able to take advantage of the maximum discount that was negotiated with creditors in May 2015. Net of fees incurred for the new financing, the company was able to benefit from prepayment discounts of TTD194.2m, all of which has been reflected in its second quarter 2015 results released yesterday. The restructured debt agreement that was concluded in 1Q was refinanced in May 2015 using proceeds from a Bridge L... |
UltraTech first quarter profit falls 5.5%21 July 2015, Published under Cement NewsUltraTech Cement's first quarter standalone net profit fell 5.5 per cent YoY to INR591 crore. The Aditya Birla Group firm had posted net profit of INR628 crore in the year-ago period. Cement and clinker sales during the quarter ended 30 June 2015 climbed six per cent to 12.14Mt from 11.7Mt a year earlier. Energy costs improved by seven per cent but the reduction in fuel prices was partly offset by an increase in rail freight expenses. Input prices remained stable except for the rise i... |
Summit Materials completes acquisition of Lafarge North America assets21 July 2015, Published under Cement NewsUS-based construction materials company Summit Materials, Inc has completed its previously announced acquisition of a 1.2Mst cement plant in Davenport, Iowa along with seven cement distribution terminals from Lafarge North America Inc. unit for a purchase price of US$450m in cash, plus an exchange of Summit’s Bettendorf, Iowa cement distribution terminal, the company said on Monday. The newly-acquired cement operations are a complementary fit with Summit’s existing cement plant in Hannibal,... |
Spanish consumption rises 8.6% in 1H1517 July 2015, Published under Cement NewsCement consumption in Spain reached 5.6Mt in the first half of 2015, reflecting an 8.6 per cent increase YoY, according to the latest data from cement association Oficemen. In June demand increased 7.5 per cent YoY. By the end of this year, the domestic market is forecast to grow 10 per cent to 11.8Mt, according to Oficemen. However, despite the positive data, the cement association’s president, Isidro Miranda, and director general, Aniceto Zaragoza, have called the expansion “insufficien... |
Elementia raises MXN3.93bn with IPO, Mexico17 July 2015, Published under Cement NewsMexican construction holding Elementia raised MXN3.93bn (US$250.15m) with its initial public offering (IPO) on 9 July 2015. The company set an initial price of MXN17 per share and obtained resources 15 per cent below the estimated target of MXN 5.20bn. The maximum share price reached MXN18.50 which resulted in a net sum of MXN 3.77bn obtained, which will be invested in Fortaleza, the company's cement division. The resources will cover the expansion of production capacity at its Tula ... |
Morocco: cement demand falls 6.3% in June16 July 2015, Published under Cement NewsMoroccan cement consumption fell a further 6.3 per cent YoY to 1.16Mt in June following a similar decrease in May. This brings cement demand over the first six months of this year down 1.3 per cent to 7.3Mt, with the decline mainly attributed to a slow real estate market. Mohammed Chaïbi, president of Ciments du Maroc and the Moroccan cement association (APC), told L'Economiste that he expects the decline to continue going forward. Key factors that are likely to hold demand growth bac... |
German cement consumption expected to fall 1.6% in 201515 July 2015, Published under Cement NewsGerman cement consumption is expected to decline by 1.6 per cent YoY in 2105 to around 26.7Mt, as local cement producers no longer anticipate being able to compensate for lower market demand recorded in the first quarter of this year. The forecasts released by the German Cement Works Association VDZ yesterday show that due to subdued markets in April and May, volumes are unlikely to regain enough ground to make up for the slower performance so far in 2015. Lower level of industrial const... |