Cement News tagged under: corporate
Spain: Cementos Portland improves loss27 July 2016, Published under Cement NewsCementos Portland reported a loss of nearly EUR36.8m (US$40.5m) in the first half of 2016, a 7.9 per cent YoY improvement when compared with the EUR39.9m loss in 1H15. EBITDA improved 23 per cent to EUR46m. Revenues fell by 1.8 per cent due mainly to a decrease in sales volumes in Spain and Tunisia, which contracted by 2.3 and 5.5 per cent, respectively in the first half of the year. The USA delivered relief as the market expanded by 10.2 per cent by the close of April. In addition, expor... |
India: UltraTech purchases more coal linkages27 July 2016, Published under Cement NewsUltraTech Cement has won an auction for 95,000t of coal from Junadhi Mines in Chhattisgarh. The rights to use the coal are being sold off as part of a wider exercise within the Indian coal industry. UltraTech will pay INR1050/t (US$15.60/t) for the coal. |
UK CMA gives final clearance in Breedon’s Hope acquisition27 July 2016, Published under Cement NewsUK Competition and Markets Authority (CMA) has cleared Breedon to acquire Hope Construction Materials following its acceptance of Breedon’s undertakings in lieu of a reference to a Phase 2 investigation in respect of its proposed acquisition of Hope. Breedon had proposed undertakings to the CMA to divest 14 readymix sites to an up-front buyer approved by the CMA. Following the clearance, Breedon now expects the acquisition to complete on 1 August 2016. Commenting on the announcement ... |
Eagle Materials advances cement volumes by 13%26 July 2016, Published under Cement NewsIn the first quarter of its financial year to 31 March, Eagle Materials' turnover, including its share of the Texas Lehigh cement joint venture, increased by 3.3 per cent to US$322.4m. The trading profit advanced by 17.9 per cent to US$71.2m and after an interest charge 13 per cent lower at US$3.9m, the pretax profit was up by 20.4 per cent to US$67.3m and the net attributable profit rose by 20.1 per cent to US$45.4m. The net debt at the end of June stood at US$489.5m, giving a gearing le... |
Nigeria: Ashaka Cement signs NGN11bn coal power agreement26 July 2016, Published under Cement NewsAshaka Cement plc has signed a NGN11bn (US$35m) contract with China-based RUNH Power Corp Ltd for the construction of a 16MW lignite-fired coal power plant at its cement plant in Gombe State, Nigeria. The power plant will be operated by firing coal from Ashaka Cement-owned local coal mine reserves located in Maigana, 140km distance from the cement works. Scheduled for completion in 2018, the facility would enable the cement plant to reduce its reliance on the national grid and diesel-... |
Lafarge Africa in 2Q1626 July 2016, Published under Cement NewsLafarge Africa Plc has released its financial results for 2Q16, reporting a total revenue of NGN107bn (US$344.9m). Cost of sales stood at NGN92.2bn (US$297.3m), down from NGN98bn (US$315.9m) in the same period last year and administrative/distribution and other expenses dropped to NGN12.2bn (US$39.3m) from NGN4bn (US$45.1m). The company’s revenue of NGN30.8bn (US$99.3m) fell by NGN28.5bn (US$91.9m) due to foreign exchange loss after the naira’s devaluation. The company also suffered diminish... |
India: Lakshmi Cement gets green light to expand Sirohi limestone mine26 July 2016, Published under Cement NewsLakshmi Cement has been given environmental clearance to expand its opencast limestone mine in the Sirohi district of Rajasthan. Under the proposals, the mine’s capacity will be expanded from 8 to 13Mta. The firm had originally applied for permission for the project in March 2013, but environmental clearance was not given until July 2016. Work on the 390.625ha site is expected to commence immediately. |
Cementir to acquire HeidelbergCement’s Belgian operations25 July 2016, Published under Cement NewsCementir has announced that it is to acquire HeidelbergCement’s Belgian assets for an enterprise value of EUR312m (US$342m). The deal primarily consists of Compagnie des Ciments Belges SA and is subject to the European Commission giving its approval. HeidelbergCement has been obliged to sell its Belgian operations as part of the process of acquiring Italcementi. In 2015 the assets generated pro forma sales of EUR180m (US$197m) on sales of 1.8Mt of cement, 4.8Mt of aggregates and 0.8Mm 3 ... |
Siam City Cement to acquire Holcim Lanka25 July 2016, Published under Cement NewsSiam City Cement (SCC) has signed a deal to buy Sri Lankan cement company Holcim Lanka Ltd for US$400m. The acquisition will turn SCC into the market leader in Sri Lanka. SCC is anticipating that the acquisition of the 98.95 per cent stake in Holcim Lanka will be completed within two weeks of the date of agreement, while LafargeHolcim have said the transaction will be completed in 3Q16. SCC will use credit facilities from Bank of Tokyo-Mitsubishi UFJ to fund the purchase. This latest ... |
Bangladesh: Premier Cement expansion plan25 July 2016, Published under Cement NewsPremier Cement Mills Ltd has plans to more than double its production capacity, with an approximate investment of BDT4bn (US$51m). Current production capacity stands at 6000tpd and will be increased to 16,000tpd. Of the BDT4bn investment, BDT2.09bn (US$26.7m) will be used for equipment and machinery import, and the remaining BDT1.91bn (US$24.4m) for construction and other local purposes. The expansion is scheduled to be completed by 2018. |