Cement News tagged under: corporate
Asia Cement Co to acquire Halla Cement Corp15 November 2017, Published under Cement NewsAsia Cement Co is preparing to acquire Halla Cement Corp with a reported bid between KRW700bn (US$627m) and KRW800bn, according to Deal Street Asia. The South Korean company Halla Cement operates one integrated cement plant with a cement production capacity of 9Mta. The company reported EBIT of KRW62.8bn in 2016, an increase of 43 per cent YoY. This move will increase Asian Cement’s share of the South Korean market from seven to 20 per cent. |
Alexandria Cement losses widen to EGP359m15 November 2017, Published under Cement NewsAlexandria Cement, Egypt, reported audited financial results for 9M17 ended 30 September 2017 with consolidated losses widening to EGP-358.78m (US$-20.3m) when compared with EGP-85.17m in the year-ago period. In addition, standalone net losses increased from -EGP177.6m to EGP-281m over the same period. |
Lafarge Africa receive shareholders endorsement for merger15 November 2017, Published under Cement NewsLafarge Africa have received the shareholders endorsement for a merger with Unicem and Atlas Cement Company Ltd, according to Nigerian newspaper The Guardian. "The merger is part of the asset consolidation we began in June 2014. It will solidify our market position in Nigeria particularly our presence in the South-South and South-East regions," said Michel Pucherchos, CEO of Lafarge Africa. Unicem has a cement production capacity of 5Mta at its Mfamosing plant, whilst Atlas has a capaci... |
Lafarge Maldives celebrates 8 years zero lost time injuries15 November 2017, Published under Cement NewsLafarge Maldives has reached an important milestone on 22 September 2017, celebrating eight consecutive years of zero lost time injuries. At Lafarge Maldives, employees aim to conduct their business with zero harm and create a healthy and safe environment for all stakeholders. Lafarge Maldives Cement has actively participated in Occupational Safety & Health Conference 2017, organised by State Trading Organization (STO) along with Maldives Association of Construction Industry (MACI) to... |
CRH plans cash bid for PPC14 November 2017, Published under Cement NewsIreland’s CRH has registered its interest in submitting a cash bid for South African cement producer PPC as it takes on AfriSam and LafargeHolcim. While PPC did not disclose the amount of the bid, it said it would give the Irish group time for due diligence and to submit an updated bid next week which would include a value per share for the company. "Historically, it would have been unusual for CRH to enter a bidding situation for a listed company, given management's preference for pu... |
Adelaide Brighton investigates AUD$14m underpayments to customers14 November 2017, Published under Cement NewsAdelaide Brighton announced on Monday that "it has identified certain financial discrepancies which relate to transactions under which a small number of customers may have underpaid for product supplied to them." The company is investigating the matter fully, including the possible involvement of an employee of the company, with the assistance of forensic accountants KPMG. Adelaide Brighton believes there may have been deliberately hidden underpayments by customers over a sustained period... |
Taiwan Cement plans to create 20MW of green energy14 November 2017, Published under Cement NewsTaiwan Cement Corp plans to spend TWD980m (US$32.45) on a green energy project at the Changhua Coastal Industrial Park. The project involves the development of photovoltaic systems and onshore wind farms, according to the Taipei Times. The project intends to regenerate the company’s unused facilities at the industrial park. Due to begin operations in 2Q18, it is expected that 20MW of electricity will be produced when fully operational. Alongside these plans, Taiwan Cement released its ... |
Sinai Cement swings into the red in 9M1714 November 2017, Published under Cement NewsEgypt’s Sinai Cement has reported losses of EGP-253.5m (US$-14.4m) in the first nine months of the year, against profits of EGP21.8m in 9M16, as shown by the company’s independent financial statements. During the nine-month period, sales rose to EGP939.29m, up 1.1 per cent from EGP929.22m in the year-ago period. Sales costs quadrupled to EGP972.2m from EGP235.3m. |
Cementos Argos raises cement volumes by 16.7% in 3Q1713 November 2017, Published under Cement NewsCementos Argos reports in its 3Q17 results that consolidated cement volumes reached 4.2Mt, with a 16.7 per cent increase driven by positive dynamics in the company's operating regions and the consolidation of the Martinsburg plant operation. Concrete volumes decreased 6.1 per cent, due to the performance of Texas and Colombia. The adjusted EBITDA, excluding no-recurring items associated to the BEST programme, closed in COP428bn (US$143.2m), compared to COP398bn in 3Q16, with a 19.5 per... |
HeidelbergCement reduces Georgia investment13 November 2017, Published under Cement NewsHeidelbergCement is raising EUR115m (US$134m) by selling 50 per cent of its Georgian subsidiary to a Georgian investment fund called Cement Invest, which belongs to Georgian Co-Investment Fund and Hunnewell Partners, a special situations investment fund. HeidelbergCement has been active in Georgia since 2006 and a new kiln line is currently under construction that is expected be completed by the end of 2018. Currently, there are three integrated cement works, one grinding centre, 13 ready... |