Cement News tagged under: Weekly Newsletter
UltraTech quarterly revenue rises 15% YoY26 January 2015, Published under Cement NewsIndia's largest cement producer, UltraTech Cement, reported a 15 per cent YoY increase in net sales for the quarter ended 31 December 2014 to INR54.9bn. Earnings before interest depreciation and tax for the three months was up 14.5 per cent to reach INR9.9bn, but profit after tax (PAT) dipped 1.6 per cent to INR3.64bn, compared to the same period of last year. For the first nine months of the current fiscal, revenues jumped 16 per cent and PAT rose seven per cent. Combined domestic ce... |
Ecuador: Peru’s Cementos Yura buys stake in Unión Cementera Nacional26 January 2015, Published under Cement NewsCementos Yura, part of Peru’s Grupo Gloria, has acquired a 63.5 per cent share in state-owned Unión Cementera Nacional of Ecuador, which will hold the balance of shares. The $230m investment will be disbursed to the Ecuadorian cement producers via a trust over the next 40 months, during which the construction will take place of a new 2400tpd clinker production line in Riobamba. "We will participate in this company with this contribution and are very optimistic that this will benefit t... |
Semen Indonesia targets seven per cent sales growth26 January 2015, Published under Cement NewsSemen Indonesia is targeting sales growth of around seven per cent this year, despite a cut in the price of the construction material for state-run enterprises initiated by the government last week. Semen Indonesia’s new president, Suparni, said the company is targeting production of 30Mt and hopes for an increase over 2014, when volume rose three YoY to 28.5Mt. That figure included 2.3Mt produced by Thang Long Cement, a Vietnamese company acquired by Semen Indonesia in 2013. The Indon... |
CRH confirms discussions over Lafarge and Holcim assets23 January 2015, Published under Cement NewsCRH has confirmed that it is in discussions with Lafarge and Holcim regarding the potential acquisition of certain assets being disposed of by the two companies in advance of their proposed merger. “While there can be no certainty that these discussions will result in a transaction, if an acquisition was to proceed, it is likely that it would be funded through a combination of existing cash balances, debt and an equity placing,” CRH said in a statement released yesterday. “At this stage ... |
Spain’s cement demand holds at just below 11Mt in 201421 January 2015, Published under Cement NewsCement consumption in Spain reached 10.79Mt in 2014, largely stable when compared to the 10.74Mt recorded in 2013, latest figures released by domestic cement association Oficemen show. The bottoming out from a steady decline experienced in recent years was helped by the 12.5 per cent expansion of the domestic market in December. Output in Spain’s cement factories increased 5.4 per cent YoY to 13.91Mt from 13.2Mt in 2013. However, in December, inventories fell as production decreased by ni... |
Lafarge to buy back Baring stake in Indian unit21 January 2015, Published under Cement NewsLafarge India is reportedly buying back the 14.03 per cent stake it sold to global private equity investor Baring Private Equity Asia in 2013. Through its wholly-owned subsidiary Paris Cement Investment Holdings, Barings Asia acquired a 14.03 per cent stake in Lafarge India for EUR200m. According to local press reports, the share agreement with the PE fund is said to have a clause which triggers a buyback case in case there is any change in the shareholding structure. With Lafarge and Holc... |
Egypt: Supreme Administrative Court suspends privatisation appeal20 January 2015, Published under Cement NewsThe Supreme Administrative Court has decided to halt proceedings looking into the appeal against the privatisation of Egypt-based Beni Suef Cement Company. The court has ordered that workers are reinstated to the company but has temporarily suspended looking into the privatisation appeal. The suspension is pending another court decision in a case questioning the constitutionality of a law issued last year, which bans third parties from challenging sales or investment contracts signed betw... |
Peru’s cement market stable in 201419 January 2015, Published under Cement NewsPeru’s cement market absorbed around 881,360t of cement in December 2014, according to the latest data from the country’s cement association, Asocem. Domestic producers reached an output of 932,603t in the last month of 2014, of which 37,491t of cement were exported as well as 30,014t of clinker. Comparative figures for December 2013 revealed a 3.3 per cent increase in national dispatches but a 7.5 per cent decrease in cement exports. Production rose 0.5 per cent in December YoY. Full... |
Indonesia lowers SOE-produced cement prices19 January 2015, Published under Cement NewsIndonesia’s President Joko Widodo has decided to lower the selling price of cement produced by State-Owned Enterprises (SOE) by IDR3000/bag. On Friday last week, the president announced the price cuts of the SOE-produced cement, adjusted to the cut in subsidised gasoline (Premium) prices from IDR7,600/litre to IDR6,600/litre. SMGR corporate secretary Agung Wiharto said that although selling prices are lowered, the company will continue to maintain its EBIDTA margin at 30 per cent. In the t... |
Semen Indonesia's Myanmar investment discussions still ongoing16 January 2015, Published under Cement NewsSemen Indonesia may withdraw from plans to invest in Myanmar if the company and its local partner fail to reach an amicable agreement over the partnership deal, a company executive has told the Jakarta Post. Last year the state-owned Indonesian cement firm said it had decided to postpone its plan to acquire a cement firm in Myanmar after it missed its mid-year deadline to conclude negotiations. Agung Wiharto, Semen Indonesia corporate secretary has now told local press that his company... |