Cement News tagged under: corporate
Thomas Gruppe to buy Gebr Seibel Zementwerke13 October 2017, Published under Cement NewsThomas Gruppe (revenues estimated at EUR300m) confirmed on Thursday 12 October 2017 that it was taking over Portland-Zementwerke Gebr Seibel GmbH & Co KG, in Germany, a family-run business headed by Heinrich and his son Hubertus Seibel. Gebr Seibel Zementwerk has encountered problems due to discount requirements of its main client, Cementbouw (CRH group), ie roughly 120,000t out of 600,000t produced annually. CRH demanded to be supplied based on a cut-rate price per tonne (EUR42/t). T... |
Umm Al-Qura Cement secures US$13.3m bank loan13 October 2017, Published under Cement NewsUmm Al-Qura Cement Company of Saudi Arabia has signed a key Islamic financing agreement with Riyad Bank to secure a SAR50m (US$13.3m) loan. The loan will be used for funding an increase in working capital as well as the capital purchases, the company said in a filing to the Saudi bourse Tadawul. The company has a factory near Taif city with a clinker production capacity of 1.98Mta. |
Loma Negra sets out the terms of its IPO13 October 2017, Published under Cement NewsArgentina's Loma Negra the announced terms for its IPO on Thursday. The company is planning a global offering and intends to list ADSs on the NYSE and ordinary shares on the Bolsas y Mercados Argentinos (BYMA) under the symbol LOMA. The Buenos Aires-based company plans to raise US$751m by offering 44.2m ADSs (100 per cent insider) at a range of US$15-19 plus an additional US$102m by offering up to 30m new ordinary shares at a range of US$3.00-3.80 for a combined US$853m in total proceeds.... |
HeidelbergCement to invest in Bangladesh grinding mill12 October 2017, Published under Cement NewsHeidelbergCement is set to invest BDT925.3m (US$112m) of its own funds in a new grinding mill at its 1.075Mta Kanchpur plant in Bangladesh. The new mill will add 472,000tpa to the company's total existing cement capacity of 2.5Mta, located in production facilities in Chittagong and Kanchpur. The mill is the latest investment of the Germany-based cement producer in Bangladesh. To date the company has invested around US$100m in the country and currently meets 13 per cent of domestic cement... |
Arabian Cement postpones Rabigh grinding operation12 October 2017, Published under Cement NewsArabian Cement Co expects the commercial operation of the grinding unit at its Rabigh plant, Saudi Arabia, to start in the 3Q18, instead of the earlier-announced 4Q17. Construction on the project is still ongoing and according to a statement to the Saudi Stock Exchange, the delay is attributed to the contractor who does not commit to the scheduled deadline. The financial impact of the new facility is difficult to determine as it depends on supply and demand in the cement market, said the ... |
Khamarnaugaon plant idea opposed by villagers12 October 2017, Published under Cement NewsAditya Birla's proposed UltraTech cement plant at Khamarnuagaon under Cuttack district’s Athagarh block has witnessed protests by locals despite obtaining required 90 acres from the government to start plant there. Villagers of Gurudijhatia and Khamarnuagaon alleged that they would lose almost all grazing fields for cattle if a cement plant was built in the area. |
PPC merger opposition grows11 October 2017, Published under Cement NewsVisio Capital Management, which holds seven per cent of PPC shares, is the latest investment manager to object to a partial conditional offer for AfriSam-Fairfax merger. Visio Capital’s position sees at least 25 per cent of shareholders opposing the merger. Earlier this week, Value Capital Partners, which owns around five per cent of PPC stock, had rejected the offer made by Canada’s Fairfax Africa Investments saying the intrinsic value of PPC was at least ZAR10/share. Fairfax had underta... |
Steppe Cement 2Q17 revenues rise 27%11 October 2017, Published under Cement NewsSteppe Cement announced that its 2Q17 revenue of KZT9312m (US$27.7m) was 27 per cent higher than the KZT7316m achieved in the corresponding quarter in 2016. Sales volumes reached 685,745t during the third quarter, a 12 per cent increase from the 3Q16 due to good clinker output and stock availability. For the nine months ended 30 September 2017, Steppe Cement Ltd recorded a revenue of KZT17,865m compared with KZT15,506m in the corresponding nine-month period in 2016, representing a ... |
CNBM moves closer to full integration of 15 listed subsidiaries11 October 2017, Published under Cement NewsChina National Building Materials Group Corp is moving closer to full integration with talks ongoing to integrate some of CNBM 15 subsidiaries listed both at home and abroad. Among the 15 publicly-traded companies, three are listed overseas. The move follows the announcement in September of a merger between CNBM Group and China National Materials Group Corp (also known as Sinoma), another state-owned building materials giant. According to a statement jointly released by the two companies e... |
BAML: Boral best placed to benefit from Australia’s infrastructure boom11 October 2017, Published under Cement NewsASX investors looking to benefit from the AUD100bn infrastructure boom could do well by placing their bets on Boral, according to analysts at Bank of America Merrill Lynch (BAML). The cement producer’s comparative advantage lies in its exposure to the infrastructure spend over the next decade, combined with expanding profit margins in the US. BAML building materials analyst Sophie Spartalis said in a report on the large ASX-listed building and construction stocks that Boral is the "to... |