Cement News tagged under: corporate
FLSmidth to acquire Phillips Kiln Services, USA18 August 2011, Published under Cement NewsFLSmidth has today signed a share purchase agreement to acquire 100% shareholding in Phillips Kiln Services Ltd, a US-based supplier of kiln services for the cement and minerals industries. Phillips Kiln Services is a well-established international services provider that specialises in the maintenance, reconditioning and repair of kilns and related equipment. Capable of working on all makes and models of rotary kilns, dryers, and associated equipment, the company offers an excellent mix o... |
Cimpor’s first-half turnover improves18 August 2011, Published under Cement NewsCimpor’s first half turnover improved by 5.7% to €1,149.58m and the EBITDA increased by the same percentage to €315.6m with Brazil, Turkey and China are proving to be the company’s top performers. As depreciation and impairment charges only increased by 1.6%, the trading profit (EBIT) rose by 8.2% to €198.6m. A further 38.7% reduction in financial charges led to a 16.5% advance in the pre-tax profit to €181.8m. A reduction in the tax charge from 34.0% to 23.9% meant that the n... |
Star Cement drops stake sale plan, India18 August 2011, Published under Cement NewsStar Cement, a subsidiary of Kolkata-based Century Plywoods, has put its decision to sell 10-15 per cent on the backburner given the slowdown and depleting valuations. "At the moment the exercise is off, given especially the fact just over the past few days the market has lost over 20 per cent in value. We do not think we will get an acceptable price at the moment," said Sajjan Bhajanka, managing director, Century Plyboards. The deal size, inclusive of debt was being pegged at US$250m- $27... |
Deepak Parekh appointed to Lafarge India’s advisory board18 August 2011, Published under Cement NewsDeepak Parekh, Chairman, HDFC, has been inducted on the Lafarge’s International Advisory Board. Consequently, he stepped down as Non-Executive Chairman of Lafarge India. Mr Isidoro Miranda, Executive Vice-President, Co-President of the Cement Business, said “Our India business unit has benefited greatly from his guidance, and he will continue to provide us with invaluable advice in this new position on a global basis.” Mr Uday Khanna, who retired as Managing Director and CEO on Wednesday... |
Cemento Andino approves investments, to issue bonds18 August 2011, Published under Cement NewsThe Board of Cemento Andino has agreed to extend the lease it has with the Credit Bank of Peru (BCP) at US$23m over the contract amount in 2009, which was US$162m, to cover increased costs for the expansion of its cement plant. Cemento Andino is expanding its plant capacity from 1.4Mta to 2.2Mt with an investment of US$180m, but its CEO told local press, that it plans to invest an additional $20m to reach a capacity of 2.5Mta. Cemento Andino will also initiate efforts to issue corporate b... |
Limak considers bidding for Afyon Cimento, Turkey17 August 2011, Published under Cement NewsLimak is considering bidding for fellow Turkish cement maker Afyon Cimento and the sale process could be completed in 2-3 months, Chairman Nihat Ozdemir said. Ozdemir told reporters on Tuesday that Limak is planning to invest US$300m in cement over a three year period to increase total capacity to 8.5Mt. Limak will increase the capacity of Ergani cement factory to 2Mt by investing US$100m. US$50m of this investment would be financed by equity capital and the rest by short-term financing,... |
Carib Cement losses still climbing17 August 2011, Published under Cement NewsCaribbean Cement Company Limited made a loss of J$608m (US$7m) in the second quarter, even while cement sales appeared to have stabilised in the period. Domestic and export sales combined stayed flat at 185,000t in the June quarter. Clinker exports, however, dropped to less than half the 2010 levels in the period. Total revenues also underperformed, falling from J$2.13bn to J$1.96bn. The loss in the quarter was almost triple the losses of June 2010 and it pushes the company’s half-year d... |
Investments in Venezuela production17 August 2011, Published under Cement NewsPresident Hugo Chávez Frías has authorised resources for expansion of cement plants to increase their production levels. The president approved of VEF422m, arising from a credit granted by the Bank of Venezuela and US$183m to be transferred by the Chinese Fund. |
Anhui Conch reports significant first half 2011 rise16 August 2011, Published under Cement NewsAnhui Conch Cement Co., China’s second largest cement producer by output, said Monday that its first-half profits rose 233.62 per cent YoY due to higher selling prices and increased sales volume. Net profits rose to CNY5.99bn (US$937.5m), or CNY1.13/share, from CNY1.8bn, or CNY0.34 a share, one year earlier, the cement maker said in a statement filed to the Shanghai Stock Exchange. Revenues generated from the company’s main business jumped 61.66 per cent from a year earlier to CNY22.12bn.... |
Fujairah first half 2011 loss16 August 2011, Published under Cement NewsUAE-based producer, Fujairah Cement, posted a loss of more than AED6m (US$1.63m) for the second quarter of 2011. The company said the after-tax loss compared with an AED11.8m (US$3.21m) profit the previous year, despite a 19.45% rise in sales from AED 221m (US$60.16m) to AED 264m ($71.87m) in that time. The loss follows the AED 2.75m ($748,686) loss incurred during the first quarter of 2011, leaving the company with a first-half loss of AED 8.75m ($2.38m). Naser Ali Khammas, general mana... |