Cement News tagged under: corporate
Cementos Blancos leases Azuara plant to Cemex, Spain05 September 2012, Published under Cement NewsSpanish cement producer Cementos Blancos de Aragon (CBA) has signed an agreement to lease its plant in Azuara to Cemex, according to local press reports. Through the move, CBA aims to repay EUR30m syndicated loan to a pool of banks including La Caixa Banco Popular and Banco Sabadell. Cemex, meanwhile, intends to relocate the plant’s equipment to its other production facilities in Spain, sources told Cinco Dias. The newspaper also reported that Cemex is set to announce this week a do... |
Seacem trims stake in Lafarge Republic, Philippines05 September 2012, Published under Cement NewsSoutheast Asia Cement Holdings (Seacem) on Tuesday sold a 2.3 per cent stake in Lafarge Republic Inc (LRI) to local institutional investors for PHP1.14bn (US$27m). Seacem sold 136 million of its LRI shares at PHP8.40/share, according to disclosures by both companies to the Philippine Stock Exchange (PSE). Aside from raising fresh funds, Seacem’s move to reduce its stake in LRI is part of measures to boost the public float of the latter to meet the 10 per cent minimum by the PSE for a c... |
UK August construction output shrinks05 September 2012, Published under Cement NewsThe UK construction industry shrank in August as new orders dropped at the fastest pace since April 2009, according to Markit Economics. An index based on a survey of purchasing managers fell to 49 from 50.9 in July, Markit and the Chartered Institute of Purchasing and Supply said in a statement on Markit’s website today. The median estimate in a Bloomberg News survey of 12 economists was for a reading of 50, the dividing line between growth and contraction. “UK construction firms are... |
Irish Cement in restructuring efforts, to cut 55 jobs04 September 2012, Published under Cement NewsCRH subsidiary Irish Cement has announced 55 redundancies at its plant in Limerick as part of restructuring measures due to a considerable downturn in the domestic construction sector. The company said that the restructuring follows five years of decline in Irish construction activity which is now 80 per cent less than 2007 peak levels. “Unprecedented deterioration in market conditions, combined with a sustained decline in the demand for cement products, has led to the need for a sign... |
FLSmidth to acquire German TEUTRINE GmbH04 September 2012, Published under Cement NewsFLSmidth has acquired the privately-owned company TEUTRINE GmbH Industrie-Technik (TEUTRINE), a German company specialised in mobile solutions for repairs, refurbishments and installation services. The parties have agreed not to disclose the value of the transaction. TEUTRINE has 40 years of experience of worldwide site management services, assembly and repair tasks within the cement and minerals industries. The company predominantly carries out maintenance and repair services at site w... |
Seacem to sell Lafarge Republic shares, Philippines03 September 2012, Published under Cement NewsSoutheast Asia Cement Holdings (Seacem) plans to reduce its stake in Lafarge Republic Inc, either through a property dividend, share swap or other available – to allow the latter to meet its public float requirements. The two companies announced in separate disclosures to the Philippine Stock Exchange (PSE) on Friday, that Seacem plans to sell some of its shares in the majority-owned Lafarge unit. Based on PSE’s latest data, Lafarge Republic Inc has a public ownership of only 3.7 per cent... |
PT Holcim Indonesia 1H net profit increases 15 per cent03 September 2012, Published under Cement NewsPT Holcim Indonesia recorded a 15 per cent rise in net profit driven by increased sales. Net income rose to IDR514.4bn (US$54m) in the first six months of this year from IDR447.7m in the same period of last year. Revenue increased 18 per cent to IDR4.19trn, according to reports in the Jakarta Globe. Holcim Indonesia is currently working on construction of a new plant in Tuban, on the main island of Java. Slated to come on-stream in the first half of 2013, this new plant will have a capac... |
Sichuan Shuangma Cement 1H net profit slumps, China03 September 2012, Published under Cement NewsShenzhen-listed producer, Sichuan Shuangma Cement Co, reported a 112.95 per cent loss in net profit for the first half of 2012 to CNY11.64m (US$1.8m) China Business Newswire reports. In the six months to June, the company’s operating revenue was down 6.21 per cent to CNY885m. Basic losses per share stood at CNY0.02. |
Tanga Cement profit rises 56 per cent, Tanzania31 August 2012, Published under Cement NewsTanzania-based Tanga Cement, part of the Holcim Group, has posted a 56 per cent YoY rise in net profit to TZS15bn (US$9.5m) due to increased exports and stable electricity supplies. Gross profit was also driven by a 14 per cent rise in domestic sales while exports increased 35 per cent YoY. Commenting on the results, acting Chairman, Prof Samuel Wangwe said: "With substantially reduced maintenance and electricity costs, gross profit for the period increased by 40 per cent to TZS30.25b... |
Lafarge Republic to comply with 10% public ownership, Philippines31 August 2012, Published under Cement NewsLafarge Republic Inc was approved a one-day trading suspension on Friday by the stock exchange of the Philippines as it unveiled plans to comply with the exchange's 10 per cent public ownership requirement, according to reports by Dow Jones. Lafarge Republic's public ownership is now 3.7 per cent. Companies listed on the Philippine Stock Exchange have until the end of 2012 to comply with the requirement or face a delisting. The cement producer said its major shareholder, Southeast Asia Cem... |