Cement News tagged under: Weekly Newsletter
Chettinad to acquire stake in Anjani Portland13 March 2014, Published under Cement NewsChettinad Cement Corp Ltd has entered into a share purchase agreement to acquire up to 61.74 per cent stake in Hyderabad-based Anjani Portland Cement Ltd for INR700m from the promoters of the company. The deal has been struck at INR 61.75/share. It has also initiated an open offer as per SEBI takeover norms. Chettinad Cement has said that its agreement with promoters of Anjani Portland has a built-in flexibility to ensure that its holding is limited at 75 per cent, the maximum allowed for... |
US cement shipments rise 4% YoY in 201312 March 2014, Published under Cement NewsTotal shipments of Portland and blended cement in the United States and Puerto Rico during 2013 reached 82Mt, up four per cent year on YoY, the latest data from the US Geological Survey has confirmed. Imports for the full year 2013 totalled 7.2Mt, up by three per cent from the same period in 2012. During December 2013, shipments were 5.1Mt, an increase of almost nine per cent YoY. The leading cement-producing states in December were Texas California, Missouri, Florida and Alabama, in descen... |
Pakistan February sales 8.7% higher12 March 2014, Published under Cement NewsPakistan cement sales rose by 8.7 per cent YoY in February 2014 to 2.135Mt, led by strong demand from the domestic market. The All Pakistan Cement Manufacturers Association (APCMA) revealed that during the first eight months of the current fiscal, local dispatches stood at 16.274Mt, representing growth of 2.9 per cent YoY. “We are getting healthy demands from the domestic market,” he said, adding that during February, local dispatches increased to 1.76Mt on average in the northern again... |
Vicat: full-year turnover eases11 March 2014, Published under Cement NewsTurnover at Vicat eased by 0.3 per cent in 2013 to EUR2286m and EBITDA came off by 2.4 per cent to EUR427m, while at unchanged parameters they would have risen by 2.9 per cent and 0.3 per cent respectively. The trading profit emerged 3.7 per cent lower at EUR234m. The net financial charge rose by 31.2 per cent as the debt of the Indian subsidiaries Vicat Sagar and Gulbarga Power was no longer being capitalised. After an increase in the effective tax charge from 29.1 per cent to 32.4 per c... |
Vulcan Materials Florida asset sale complete10 March 2014, Published under Cement NewsVulcan Materials Co has concluded the sale of its cement and concrete businesses in the Florida area to Cementos Argos SA for US$720m in cash. Under a separate supply agreement, Vulcan will continue to provide aggregates to the divested concrete facilities, at market prices, for a period of 20 years. "We are pleased to have successfully completed the transaction with Argos and to be working with Argos to supply aggregates to the facilities going forward," said Don James, chairman and CEO of... |
Italcementi: 2013 turnover declines 5.4%07 March 2014, Published under Cement NewsItalcementi's 2013 turnover declined by 5.4 per cent to EUR4,235.4m while the underlying EBITDA way off by just 1.9 per cent to EUR631.0m. The depreciation charge declined by 6.5 per cent to EUR426.5m and impairment charges dropped by 89.6 per cent to EUR32.1m from EUR309.4m and the previous year's trading loss EUR140.2m was turned into a trading profit of EUR159.3m. Net financial charges rose by 31.1 per cent to EUR123.9m and the contribution from associates declined by 27.2 per cent to ... |
Bamburi: operating profit plunges 24% YoY, Kenya07 March 2014, Published under Cement NewsBamburi Cement’s 2013 turnover declined by 3.6 per cent to KES33.9bn while operating profit fell 24 per cent amid an increasingly competitive market. Commenting on the company’s results, managing director Hussein Mansi, said: “In the first half of 2013, we experienced a drop in the company’s performance mainly attributable to competitive pressure in Uganda and we also saw a significant reduction of exports out of Uganda to the inland Africa markets due to political tensions, which impacte... |
Limak plans two new Turkish plants06 March 2014, Published under Cement NewsTurkish cement producer Limak Group plans to construct two new plants as part of its ongoing expansion plans, with investments amounting to EUR117.5m. The company is also planning investments further afield with two projects earmarked in Africa. Gideon Aksüyek, CEO of Limak Cement Group, told local press that a 5000tpd plant will be constructed in Ankara, while another 5000tpd cement will be built in the south-central city of Kilis, 12km from the Syrian border. The two factories are schedu... |
CIMAF to construct new Ghana cement facility05 March 2014, Published under Cement NewsThe government of Ghana has signed an agreement with CIMAF of Morocco for the construction of a 1Mta cement facility. According to the terms of the agreement signed on Monday, 3 March 2014, the new plant is to be located close to the city of Tema, local media reported. The agreement was signed by Mawuena Trebarh on behalf of Ghana’s Minister of Trade, Haruna Iddrisu as well as Saad Sefrioui, General Director of Ciments de l'Afrique (CIMAF Ghana Ltd). “CIMAF Ghana Limited plans to bui... |
TCL sees strong rise in 2013 earnings04 March 2014, Published under Cement NewsFor the year 2013, Trinidad Cement Ltd Group recorded a notable improvement in its financial performance with EBITDA increasing by TTD268.9m, or 174 per cent, to TTD423.4m (US$66.3m). This reflects a margin of 21.8 per cent compared with the previous year margin of 9.6 per cent, the company’s results stated. Domestic cement sales volumes increased by 13 per cent, largely driven by advances in Trinidad and Jamaica, while exports rose 22 per cent and clinker output was up by 15 per cent. T... |