Cement News tagged under: corporate
S&PGR upgrades Anhui Conch Cement06 September 2017, Published under Cement NewsS&P Global Ratings (S&PGR) today raised its long-term corporate credit rating on Anhui Conch Cement Co. Ltd. (Conch Cement) to 'A' from 'A-'. The outlook is stable. "We raised the rating on Conch Cement because we expect the company to continue to lower its financial leverage over the next 12-24 months owing to a likely improvement in its operating efficiency and a disciplined approach to investment and expansion," the rating's agency said. In its base case, S&PGR expect Conch Cement's ... |
Loma Negra files for IPO06 September 2017, Published under Cement NewsArgentine cement maker Loma Negra Corp has filed for an initial public offering, according to a SEC filing late Tuesday. "We believe that the economic recovery of Argentina represents one of the most attractive opportunities in global emerging markets today," the company said in the filing. "Cement consumption is highly correlated to economic activity and we expect demand for cement to grow significantly within the next five years in Argentina." Risks included cement-industry cycl... |
Ndeta set to gain controlling stake in Savannah Cement06 September 2017, Published under Cement NewsBusinessman Benson Ndeta is set to take controlling stake of Kenya-based Savannah Cement after he gained regulatory approval for a deal that would increase his interest in the company by 29.4 per cent. In a press release, the Competition Authority of Kenya said it had granted Mr Ndeta’s acquisition of Savannah Cement unconditional approval, according to local press reports. Savannah Cement currently has two shareholders — Seruji with a 60 per cent stake and Savannah Heights with a 40 per ... |
Vicem appoints new general director06 September 2017, Published under Cement NewsVietnam Cement Industry Corporation (Vicem) has appointed Bui Hong Minh general director. Mr Minh, 46, has held the position of deputy general director since 2013. Before that, he worked at But Son and Ha Tien cement companies. He became director of Bim Son Cement Company in 2011 prior to joining Vicem. |
FLSmidth: large shareholder announcement06 September 2017, Published under Cement NewsFLSmidth has been informed that Novo Holdings A/S on behalf of the Novo Nordisk Foundation has reduced its holding of FLSmidth shares to a total of 5,100,000 FLSmidth & Co. A/S shares, which corresponds to 9.95 per cent of the total nominal share capital in FLSmidth & Co. A/S. |
AfriSam submits revised PPC merger offer05 September 2017, Published under Cement NewsSouth Africa’s cement maker AfriSam has submitted a revised merger approach to larger domestic rival PPC, the company said on Monday. AfriSam’s latest proposal values PPC at 5.75 rand per share, or SAR9.2bn (US$709.47m), and is the company’s third attemp to merge with PPC and create a pan-African cement group with assets across six countries. As part of the proposal, the African unit of Canada's Fairfax Africa Holdings offered to buy 22 per cent of PPC at 5.75 rand per share for SAR2b... |
Vulcan reaches agreement to acquire Polaris Materials05 September 2017, Published under Cement NewsVulcan Materials announced that it has reached a definitive agreement to acquire Polaris Materials, an aggregates and logistics company, which serves key California markets from strategically situated operations in British Columbia. The Polaris business includes an aggregates processing plant and deepwater port on Vancouver Island along with associated long term aggregate reserves and five distribution yard outlets in the San Francisco Bay Area and in Long Beach, California. "We are very... |
ARM suffers heavy half-year losses04 September 2017, Published under Cement NewsKenya's ARM Cement Ltd announced a half-year 428.53 per cent increase in losses to KES1.41bn (US$13.5m) from KES266.78m during the same period last year. The firm's revenue for the six-month period declined by 19.79 per cent to KES5.35bn compared to KES6.67bn last year. In May the firm, whose shares trade on the Nairobi Securities Exchange, cited strained cash flow as well as increased competition and lower selling prices as key factors contributing to the company's poor performance. ... |
KSI opens slag grinding plant04 September 2017, Published under Cement NewsPT Krakatau Semen Indonesia (KSI), a joint venture between state-owned steel maker PT Krakatau Steel and state-owned cement maker PT Semen Indonesia, has opened a new slag grinding plant. Located on a 4ha plot in Cilegon, Banten, Indonesia, the IDR420bn (US$31.4m) project saw construction start in 2014. The grinding plant has a production capacity of 690,000tpa of ground granulated blastfurnace slag (GGBS) that will be used in cement manufacture. "GGBS is a more stable product that can... |
Lucky Group forms joint venture for LNG terminal04 September 2017, Published under Cement NewsA joint venture comprising leading cement producer Lucky Group along with, Sapphire group and Hallmore Power, is planning to set up a liquid natural gas (LNG) terminal at Port Qasim near Karachi to facilitate import of liquid gas in country. Port Qasim Authority (PQA) Chairman Agha Jan Akhtar told media that the consortium is expected to set-up a floating ship re-gasification unit (FRSU) with a capacity of 600msft 3 per day. LNG wil be imported and marketed by themselves as there is ... |