Cement News tagged under: Weekly Newsletter
Kenya: Holcim won't buy out Bamburi Cement10 July 2014, Published under Cement NewsHolcim said it has no intention of making a takeover offer for Bamburi Cement Ltd in Kenya if competition regulators allow its planned merger with Lafarge SA, Bloomberg reports. “We have no intention of making a takeover offer for BCL,” Holcim said. Bamburi will continue to trade on the Nairobi Securities Exchange, it said. Holcim, based in Switzerland, and Paris-based Lafarge SA are seeking antitrust backing for a planned US$40bn merger they intend to complete by the 1H15. Once the transa... |
HeidelbergCement considering US cement plants09 July 2014, Published under Cement NewsHeidelbergCement might buy the US and French cement plants that Lafarge and Holcim want to divest in order to receive the regulatory approval for their merger deal, according to Jefferies. Financial analysts Jefferies said in a note that HeidelbergCement managers told representatives during a capital markets day event on 2 July in California that the potential merger would be a "once in a generation" opportunity to acquire assets. CEO Bernd Scheifele and CFO Lorenz Naeger were among the ex... |
Ireland: two former divisions of Quinn to be acquired09 July 2014, Published under Cement NewsA consortium, including some executives from Sean Quinn's old business empire, expects to buy two divisions of the old business over the next two months. The Quinn Business Retention Company (QBRC), headed by the former tycoon's number two Liam McCaffrey, has teamed up with a UK private equity house Endless LLP for the arrangement. Aventas Manufacturing Group, which took over much of the Quinn businesses along the border after it was put in receivership, said talks on the buyout are ongoing... |
Nigeria: Lafarge to invest US$307m into Ashaka Cement expansion08 July 2014, Published under Cement NewsAshaka Cement (Lafarge Group) has secured a NGN50bn (US$307m) credit facility, in addition to internally-generated cash flows to expand its cement production base. Umaru Kwairanga, chairman of the Board of AshakaCem plc, disclosed that Lafarge Group was committed to the capacity expansion project in Ashaka and would deploy its global expertise in procurement and erection of new cement plant. “Given the extent of preparatory work that has been done, the project is a reality and will s... |
Bangladesh: supply glut or next Asian cement hub?08 July 2014, Published under Cement NewsThe high demand for quality cement in Asian markets has lured Bangladesh companies into expanding production capacity at their local factories or installing new plants. As a result the installed capacity of the local manufacturers far outstrips domestic demand, making the country self reliant in cement supply. "Bangladesh could be Asian hub of cement thanks to better quality and diversification of products as well as competitive price range," Mohammad Amirul Haque, managing director of Pr... |
Eurocement Group to build US$128m plant in Uzbekistan08 July 2014, Published under Cement NewsEurocement Group Holding of Russia is constructing a cement plant worth US$128m in Uzbekistan for its daughter enterprise Ahangarancement in the Tashkent region. Uzstroymateriali JSC, which unites contruction material industry enterprises in the country, said the new 2.4Mta cement plant will use dry-process technology. Eurocement Group has signed an agreement with Chinese China CAMC Engineering Co Ltd for the supply of equipment, design, erection supervision and training of employees. Cons... |
Martin Marietta completes TXI acquisition03 July 2014, Published under Cement NewsMartin Marietta Inc said it has completed its acquisition of Texas Industries Inc (TXI). As a result, the common stock of TXI is no longer listed for trading on the New York Stock Exchange. In a statement, Ward Nye, Martin Marietta's CEO, said the merger gives his company an "expanded platform for growth," particularly in Texas and California. "I look forward to continuing to work closely with our team and all of our employees, including our new team members from TXI, to ensure a seamle... |
Pakistan exports decline in first 11 months03 July 2014, Published under Cement NewsDespite a marked increase in shipments to India, Pakistan exports have proved disappointing in the first 11 months of the current fiscal, declining both in volume and revenue terms compared to the same period of last year. Latest data shows that Pakistan exported 7.792Mt of cement on revenues of US$460.30m during the first 11 months (July 2014 - May 2014) of fiscal FY13-14, a YoY decline of 5.08 and 12.23 per cent, respectively. The average cement export price fell by 7.05 per cent to US... |
ARM acquires full control of Rwandan producer03 July 2014, Published under Cement NewsARM Cement has completed the acquisition of Kigali Cement, taking full control of the Rwandan producer. ARM Cement, which has held a 35 per cent stake in the company, bought out the remaining 65 per cent stake held by various shareholders to take complete control of the firm. The deal was finalised in April. "We finally acquired a 100 per cent equity stake and full control of our Rwanda grinding plant," a newly released annual report by the company quoted Chairman, Rick Ashley as sayin... |
US shipments rise 6% YoY02 July 2014, Published under Cement NewsShipments of Portland and blended cement in the US and Puerto Rico for the four months to the end of April 2014 reached 23.1Mt, up by about six per cent YoY, latest data from the US Geological Survey (USGS) shows. Shipments in April were 7.4Mt, an increase of about 11 per cent from the level in the same month of the previous year. The leading consuming states (Texas, California, Florida, Ohio and Illinois, in descending order), received about 41 per cent of the April total shipments. Pr... |