Cement News tagged under: corporate
China: Shanshui Cement to raise HK$456m from placing07 October 2016, Published under Cement NewsShanshui Cement announced that it has entered into a placement agreement, proposing the placing of 910-950m new shares at a price not less than HK$0.5/share. This placing price represents a 92.1 per cent discount when compared to its closing price of HK$6.29 (US$0.81). The placing shares represent 21.2-21.9 per cent of the enlarged issued share capital of the group. Estimated net proceeds stand at HK$436.85-456.25m (US$56.3-58.8m), which will be applied to settle the group’s outstanding d... |
Italcementi shares to cease trading07 October 2016, Published under Cement NewsShares in Italcementi will be removed from the Milan stock exchange next Wednesday after the conclusion of HeidelbergCement’s takeover, Il Sole 24 Ore reports. Heidelberg has now amassed a stake of more than 96 per cent in Italcementi, giving the German firm the right to purchase the outstanding shares. |
Essroc Canada's integration to the HeidelbergCement Goup is approved06 October 2016, Published under Cement NewsThe integration Italcementi's business in Canada with the HeidelbergCement Group was formerly approved by the company's board of directors yesterday. Since 1 July 2016 HeidelbergCement Group has been held the majority stake in Italcementi and will take over the entire company following a mandatory takeover bid. The transaction involves the acquisition by Canadian Lehigh Hanson Materials Ltd (LHM), indirectly owned by HeidelbergCement, of the entire share capital, including ordinary and ... |
India: Birla Group front runner to buy Bhillai stake06 October 2016, Published under Cement NewsOrient Cement, part of the Birla Group, has emerged as the front-runner to buy out Jaiprakash Associates’ 74 per cent stake in Bhillai Jaypee Cement, the Economic Times reports. Bhillai is run as a joint venture between Jaiprakash and SAIL, with the latter holding 26 per cent of the enterprise. A source told the Economic Times that the deal values Bhillai at INR15bn (US$225m). Bhillai Jaypee Cement has a capacity of 2.1Mta with a clinker unit at Satna and a grinding unit Bhillai. "T... |
Cemex new management in CLH and Colombia06 October 2016, Published under Cement NewsCemex Latam Holdings has made senior level organisational changes at both CLH and Cemex Colombia. The following changes have been made and are effective immediately: Juan Pablo San Agustin: appointed chairman of the Board of Directors of CLH, will remain executive vice President of Strategic Planning and New Business Development of Cemex and is a member of Cemex’s executive committee. Jaime Muguiro Domínguez: confirmed as CEO of CLH, will remain President of Cemex South, Central Am... |
Egypt: NCC incurs US$13.5m losses06 October 2016, Published under Cement NewsEgypt’s National Cement Company (NCC) incurred net losses of EGP119.9m (US$13.5m) during fiscal year 15-16, an improvement when compared to the EGP282.5m registered for the previous year. NCC chairman, Saeed Abdel Moty, reported that the company attained revenues of EGP858.8m in FY16-16 versus EGP756.5m a year earlier. Mr Moty added that NCC has recently invested approximately EGP1.0bn in its environmental improvement project. |
USA: Summit Materials Inc appoints new VP of investor relations06 October 2016, Published under Cement NewsSummit Materials Inc has appointed Noel R Ryan III as its new vice president of investor relations. With over 15 years’ experience in investor relations and capital markets, Ryan most recently served as VP and head of investor relations & external communications for Calumet Specialty Products Partners LP. Before that he served as head of the investor relations function at Delek US Holdings Inc and as head of corporate communications at QEP Resources Inc. Prior to these roles, Ryan was ... |
Kenya: CDC completes purchase of 40% stake in ARM Cement05 October 2016, Published under Cement NewsARM Cement has completed the sale of 40 per cent of its shares to CDC Group, a UK-owned development corporation, for KES14.1bn (US$139m), Capital Business reports. The investment will strengthen ARM’s financial structure and enable the company develop to meet the growing demand for sustainably produced cement across sub-Saharan Africa. In the short-term, CDC will support the company’s plans to expand cement production in Mwingi in central Kenya, helping to bring down the cost of cement to... |
India: Shree Cement begins work on Gulbarga plant05 October 2016, Published under Cement NewsShree Cement has begun construction work on a new integrated cement plant sited in the Gulbarga district of Karnataka. The project, first announced in 2012, will see the creation of a 3.8Mta limestone mine, and have the capacity to produce 2.4Mta of clinker and 3.0Mta of finished cement. The project will also include a 40MW coal-based captive power plant, and is expected to take around 18 months to complete. |
Refratory giants RHI and Magnesita to merge05 October 2016, Published under Cement NewsRHI and Magnesita are to merge creating one of the leading global refractory companies that will operate under the new name of RHI Magnesita. RHI AG and the controlling shareholders of Magnesita Refratários SA, investment vehicles affiliated with GP Investments and Rhône Capital, and together with GP (Magnesita’s Controlling Shareholders) agreed to combine the operations of RHI and Magnesita. Accordingly, RHI’s Management Board has agreed to sign a share purchase agreement with Magnes... |