Cement News tagged under: corporate
Lafarge Africa shareholders approve rights issue12 June 2017, Published under Cement NewsShareholders of Lafarge Africa Plc on Wednesday approved a proposal to raise NGN140bn (US$442m) in new capital for the cement group, local media have reported. The new capital raising will be undertaken through a rights issue, issuance of pre-allotted shares to existing shareholders in proportionate to their shareholdings. At the company's AGM in Lagos, shareholders mandated the board of directors to raise up to NGN140bn with a general provision that allows the company to convert its i... |
Cemex to boost investment in Egypt12 June 2017, Published under Cement NewsCemex plans to boost its investments in Egypt, according to Cemex Egypt’s President, Ramon Piza. The company, which owns a 5.5Mta plant at Assiut, plans to invest US$20m in the country this year, Piza said following a recent meeting with Egyptian Minister of Investment and International Cooperation, Sahar Nasr, in Cairo, according to Egypt Daily news. Mr Nasr has welcomed the Mexican company's intention to increase its investments in Egypt, pointing out that the new investment law ratified... |
Cal & Cemento Sur doubles capacity09 June 2017, Published under Cement NewsGrupo Gloria has announced that the expansion of the Cal & Cemento Sur plant in Caracoto-Juliaca, Puno in southern Peru is in full swing. The project will double the current 1000tpd capacity following a US$80m investment. The upgraded plant is expected to come online at the end of this year. Cal & Cemento Sur will dispatch its product, Cal Viva, to the mining sector. |
PPC revenue growth supported by rest of Africa cement business08 June 2017, Published under Cement NewsPPC reported that group revenues for the year ending March 2017 rose by five per cent to ZAR9641m (US$750m). The growth was supported by the rest of Africa cement business where revenues rose by nine per cent, and the aggregates and ready-mix segment which saw revenues increase by 23 per cent. Group EBITDA decreased by 13 per cent to ZAR2065m while the EBITDA margin achieved was 21.4 per cent (March 2016: 26 per cent). The decline was mainly attributable to the southern Africa cement seg... |
New manager of Beumer's cement business sector08 June 2017, Published under Cement NewsMichael Brachthäuser has been appointed manager of the Beumer Group's cement business sector. A native of Cologne, Mr Brachthäuser (61) was appointed to the role in October 2016. He has previously worked as sales manager for a plant engineering company for the cement and ore industry, a leading international power station builder and a supplier of equipment and services for the cement industry. Mr Brachthäuser's objective is to further promote the Beumer Group's international alignment ... |
HeidelbergCement issues a Eurobond07 June 2017, Published under Cement NewsHeidelbergCement priced a Eurobond issue under its EUR10bn Euro medium-term note (EMTN) programme with an issuance volume of EUR500m and a maturity date of 14 June 2027. The proceeds of the transaction will be used for general corporate purposes and the refinancing of upcoming maturities. The 10-year bond bears a fixed coupon of 1.500 per cent per annum. The issue price is at 98.891 per cent, resulting in a yield to maturity of 1.621 per cent. Joint Bookrunners of the transaction are Ban... |
S&P upgrades GCC rating06 June 2017, Published under Cement NewsS&P Global Ratings has raised its long-term corporate rating on Grupo Cementos de Chihuahua to 'BB' from 'BB-'. The outlook is stable. At the same time, S&P raised the issue-level rating on the $260m senior secured notes due 2020 to 'BB' from 'BB-'. Following GCC's acquisition of various assets from Cemex in 4Q16 for approximately US$306m (consisting of one cement plant in Texas, two cement terminals located in Amarillo and El Paso, Texas and the concrete, aggregates, asphalt and bu... |
Building collapses at Holcim Obourg05 June 2017, Published under Cement NewsA collapse of a building near one of the kilns of Holcim’s 1.4Mta Obourg plant in Belgium on 23 May has resulted in the death of one worker and the closure of the plant as an investigation takes place into the causes of the collapse. Emergency services were promptly at the scene but the heavy damage to the structure of the building required further specialist help to locate the at first missing 34 year-old employee, who had worked for Holcim for the past 10 years. Holcim has undertake... |
PT Semen Padang puts Indarung VI output at 2Mt05 June 2017, Published under Cement NewsPT Semen Padang expects the output of its Indarung VI line to reach 2Mt this year as the 3Mta plant produced 0.5Mt of cement at the end of May, four months after its commissioning. Semen Padang saw domestic sales in the first four months of the year reach 1.8Mt, down 4.8 per cent YoY, according to the company’s President Director, Benny Wendry. However, exports more than quadrupled to 294,971t in the period, from 56,553t in 4M16. |
Financier acquires 11% stake in Ecocem05 June 2017, Published under Cement NewsFinancier Dermot Desmond is reported to have acquired a stake in Ecocem Materials, the low-carbon cement producer founded by Irishman Donal O’Riain and backed by Saint-Gobain. Ecocem holds a 70 per cent stake in a EUR30m 2Mta plant venture with ArcelorMittal and has three cement plants at Ringsend (Ireland), Moerdijk (The Netherlands) and Fos-sur-Mer (France) Via his private equity company, IIU, Mr Desmond is believed to be acquiring as much as 11 per cent of shares, possibly from the Durk... |