Cement News tagged under: Weekly Newsletter
Votorantim pulls IPO plan, Brazil13 August 2013, Published under Cement NewsVotorantim Cimentos SA withdrew plans for its multibillion dollar initial public offering on Monday citing poor market conditions. Votorantim had postponed its IPO plans in July, saying at the time that it would try again in September. However, it has deffered the option once again. "The IPO continues to be the company's plan and we will continue to monitor the evolution of the capital market conditions to be able to resume the offer," Lorival Luz, Votorantim Chief Financial Officer, said... |
CRH to acquire Sree Jayajothi Cements, India12 August 2013, Published under Cement NewsCRH has announced that its 50:50 joint venture in India, My Home Industries Limited (MHIL) has reached an agreement to acquire 100 per cent of the shares of Sree Jayajothi Cements Limited (SJCL), a 3.2Mta cement company based in south India for INR14,000m (EUR175m). The investment will be financed from MHIL’s existing debt capacity and by equity inputs from the joint shareholders (EUR70m). CRH’s equity interest will amount to approximately EUR35m. With the addition of SJCL, MHIL b... |
Suez Cement six-month net profit ahead, Egypt12 August 2013, Published under Cement NewsSuez Cement has reported a 34 per cent increase in first-half net profit thanks to cost reduction and efficiency improvement efforts. In the second quarter of 2013, net sales of Suez Cement Group of Companies reached EGP1302m (US$, up 11 per cent YoY while recurring EBITDA rose 18 per cent YoY to EGP315m. Net profit increased to EGP168m. Grey cement sales were down by four per cent to “close to 26Mt”, the company said. The industry suffered from continuing energy shortages and steep en... |
Acquisitions, improved markets drive Eagle's 1Q08 August 2013, Published under Cement NewsIn the first quarter of its financial year to 31 March 2013, Eagle Materials' turnover, including its share of the Texas Lehigh cement joint venture, rose by 43.7 per cent to US$255.4m as the company was boosted by acquisitions and improving markets. Trading profit more than doubled (+108.9 per cent) to US$49.47m and after an interest charge 31.6 per cent higher at US$4.96m, the pre-tax profit advanced by 123.5 per cent to US$44.51m and the net attributable profit emerged 115.4 per cent ... |
Vicat advances in Turkey and Kazakhstan07 August 2013, Published under Cement NewsVicat's first-half turnover increased by 1.7 per cent to EUR1147.7m, which amounts to a 3.2 per cent improvement on a comparative basis as the France-based cement producer made notable advances in Turkey and in Kazakhstan. EBITDA edged ahead by 0.4 per cent to EUR201.4m and the margin narrowed only slightly from 17.8 per cent to 17.6 per cent. The trading profit improved 2.4 per cent to EUR107m. After a net financial charge 9.8 per cent higher at EUR21.5m and a 33.8 per cent increase in t... |
PPC buys controlling stake in Safika Cement07 August 2013, Published under Cement NewsPPC has entered into an agreement to purchase a controlling equity stake in Safika Cement Holdings, a blended-cement producer in South Africa. The company acquired the stake for a cash consideration of approximately ZAR350m (US$35.3m). Safika owns five blending facilities and one milling operation and produces blended 32.5N cement under three brands: IDM Best Build, Castle and the Spar Build-It house brand. Commenting on its latest acquisition, PPC chief executive officer said: "We are ... |
US shipments ahead in first five months07 August 2013, Published under Cement NewsTotal shipments of Portland and blended cement in the United States and Puerto Rico in May 2013 were about 7.77Mt, up by nearly three per cent YoY, according to the latest statistics from the US Geological Survey (USGS). Shipments for the year were also up slightly to 29.7Mt, the data shows. The leading Portland cement-producing states in May were Texas, California, Missouri, Florida and Michigan (in descending order). These five states accounted for around 43 per cent of total shipments d... |
Pacasmayo boosted by northern projects, Peru06 August 2013, Published under Cement NewsCementos Pacasmayo, a leading Peruvian cement company, reported a 9.1 per cent increase in cement sales volumes for the 2Q13 as it benefits from strong demand in the northern region. During the second quarter, consolidated EBITDA rose 60 per cent to PEN91.5m (US$32.8m) compared to PEN57.2m in the same period the year before. Operating profit increased 72.9 per cent in 2Q13 to PEN77.8m compared to 2Q12. However, net income fell 21.7 per cent in the second quarter to PEN 23.4m, mainly due ... |
Buzzi Unicem hit by weaker markets05 August 2013, Published under Cement NewsBuzzi Unicem's first-half turnover declined by 5.7 per cent to EUR1273.7m and the EBITDA fell by 24.8 per cent to EUR150.7m as the Italian cement major was hit by weaker markets in Italy, Poland and Mexico. Excluding non-recurring items, the reduction would have been 21 per cent. The first half trading profit fell by 56.8 per cent to EUR37.8m and the interest charge was reduced by 31.9 per cent to EUR47.6m, with the pre-tax result swinging from a EUR22.6m profit to a loss of EUR8.3m. Afte... |
Titan's European profitability suffers02 August 2013, Published under Cement NewsTitan's first-half turnover improved by 4.4 per cent to €571.9m but the EBITDA fell by 17.8 per cent to €92.2m as European profitability continues to suffer. The trading profit fell by 36.6 per cent to €32m, but the net financial charge, that had dropped by 54.9 per cent to €20.5m a year ago, more than doubled to €44m. As a result, there was a pre-tax loss of €12.4m compared with a profit of €29.5m and the net attributable loss amounted to €21.8m. Capital investment recovered by 5.7 p... |