Cement News tagged under: corporate
Paraguay: INC to increase distribution points05 June 2017, Published under Cement NewsParaguay’s Industria Nacional del Cemento (INC) expects to increase its number of distributors following the rise in producttion in the second half of this year, according to its Managing Director, Jorge Méndez. Commercial Director, Derlys Ortiz, said the company would add 113 distributors to its current 332. The selection process for the new distributors will start this week and is expected to run until 15 June. The expanded distribution network will allow the company to reach the country... |
Pacific Cement expected to be shutdown until July05 June 2017, Published under Cement NewsPacific Cement Ltd (PCL) announced that it is unable to meet the domestic cement demand in Fiji, due to the age of its factory which is contantly out of action. Sowani Tuidrola, PCL's chief executive, says they stopped production two weeks ago due to a major breakdown at the factory. “The local demand here is big, more than what it was in the past and the second reason is that our factory at the moment is facing some mechanical problems. So one of those primary parts of the mill is actu... |
India: Ramco appoints PR Venketrama Raja as new CMD05 June 2017, Published under Cement NewsRamco Cements has announced the appointment of P R Vektrama Raja as its new Chairman and Managing Director. The appointment is for a five-year term, starting 4 June 2017, said Ramco in a Bombay Stock Exchange filing. It follows the passing of Chaiman P R Ramasubrahaneya Rajha in March. |
Major shareholder offers to sell stake in China Shanshui Cement02 June 2017, Published under Cement NewsChina Shanshui Cement Group Ltd said on Thursday that a major shareholder had offered to divest its 25 per cent stake in the company for around US$600m. China Shanshui Investment (CSI) has invited three other big shareholders to buy its holding for HKD5.50 (US$0.71)/share, the Hong Kong-listed cement maker said in a filing, although it added that there was no certainty that a deal would be done. CSI made its offer to sell to Taiwan's Asia Cement Corporation, China National Building Materi... |
Orient Cement to acquire two Jaypee units01 June 2017, Published under Cement NewsOrient Cement has reached an agreement to buy two cement units from Jaypee in the central and eastern regions of India. Orient will buy a 74 per stake in Bhilai which is a joint venture between Jaiprakash Associates Ltd (JAL) and Steel Authority of India Ltd (SAIL). Bhilai has an integrated PSC cement capacity of 2.2Mta consisting of a clinker unit in Satna area in Madhya Pradesh and a grinding unit in Bhilai, Chhattisgarh. Another agreement was signed for the acquisition of the 2Mta Nig... |
Lafarge reports higher sales from Czech operations01 June 2017, Published under Cement NewsLafarge Cement's sales increased by nearly two per cent YoY to CZK992m (EUR37.6m) in 2016. The company expects a moderate growth or stagnation of the Czech market for this year, according to company spokeswoman Milena Hucanova. The results benefitted from an increase in local consumption, Ms Hucanova told CTK Business News. Full-year net profit amounted to CZK206m, up by 23 per cent YoY. The rise in net profit was also influenced by cost savings in terms of materials and energy consum... |
Shanshui Cement shareholder plans to sell shares01 June 2017, Published under Cement NewsShanshui Cement announced that it received a letter from China Shanshui Investment Co Ltd, which holds a 25.09 per cent of shares, stating that it has invited Asia Cement, CNBM and Tianrui (International) to make an offer to acquire all its shareholdings in the company at US$5.50/share. If any of them makes the offer, it is expected that such party will be subject to the requirements under the Hong Kong Code on Takeovers and Mergers. Further announcement will be made by the company as and ... |
Cemex Dominicana appoints Alejandro Ramírez as new local president01 June 2017, Published under Cement NewsAlejandro Ramírez Cantú has been appointed has Cemex Dominicana’s new president for the company’s operations in the Caribbean country. He will also supervise operations in Haiti and the Bahamas. |
Cementos Bío Bío sees 42% drop in 1Q profits31 May 2017, Published under Cement NewsChilean cement producer Cementos Bío Bío reported a 41.6 per cent reduction in first-quarter revenues to CLP67.93m (US$100,704) from CLP76.84m in 1Q16, according its report to the Superintendency of Securities and Insurance (SVS). EBITDA fell from CLP30.03m in the first three months of 2016 to CLP26.05m in Jan-Mar 2017. Net profit nearly halved from CLP4.43m to CLP2.59m. |
Vulcan Materials to acquire Aggregates USA31 May 2017, Published under Cement NewsVulcan Materials Co has reached a definitive agreement with SPO Partners to acquire its aggregates business, Aggregates USA LLC for US$900m in cash. Aggregates USA LLC operates 31 facilities serving high growth markets in Georgia, Florida, Tennessee, South Carolina and Virginia. "We are pleased to have reached agreement with SPO Partners for these strategic assets, which enhance our ability to serve high growth markets throughout the southeastern US," said Vulcan's Chairman and CEO, Tom H... |