Cement News tagged under: corporate
Pakistan: Kohat Cement reappoints chief executive05 July 2016, Published under Cement NewsKohat Cement Company Ltd (KCCL) announced that it has re-appointed Aizaz Sheikh as chief executive and Nadeem Atta Sheikh as executive director for a term of three years commencing from 29 June 2016. The decision was made in the company's board meeting held on 2 July, in Lahore, says a notice sent to Pakistan Stock Exchange (PSX). |
HeidelbergCement completes 45% shareholding in Italcementi04 July 2016, Published under Cement NewsHeidelbergCement AG has completed the acquisition of a 45 per cent shareholding in Italcementi SpA from Italmobiliare SpA. All conditions for the closing of the transaction have been fulfilled following the approval by the relevant competition authorities. "Today’s closing is an important milestone in the history of HeidelbergCement," said Dr Bernd Scheifele, chairman of the Management Board, on Friday, 1 July. "By adding Italcementi to our Group, we are considerably strengthening our globa... |
Vietnam: government to sell Vicem stakes04 July 2016, Published under Cement NewsAccording to a local news source, the Ministry of Construction is set to divest its stakes in Vicem through an initial public offering in 4Q16. Cement producer Vicem currently control 34 per cent of the local market. At the end of last year the company announced on its website that the share sale would pare the state holding to a minimum of 51 per cent. Investors from Thailand and Indonesia have expressed their interest in acquiring the stakes in Vicem. However, foreign investors will be ... |
Indonesia: SCG Indonesia's sales revenue up 18% YoY04 July 2016, Published under Cement NewsSCG Indonesia, a subsidiary of the Thai cement conglomerate Siam Cement Group (SCG), saw its sales revenue increase 18 per cent YoY to IDR1.39trn (US$103m) in the first quarter, mainly from cement sales. SCG Thailand reported that revenue from SCG Indonesia's sales contributed 3.43 per cent of the company's profits in the first quarter, which was equivalent to US$3bn, according to a company statement. "For the ASEAN [Association of Southeast Asian Nations] region, where economic growth con... |
Deadline day reached for Lafarge India bids04 July 2016, Published under Cement NewsToday (4 July) sees the passing of the deadline by which bidders must submit binding offers for Lafarge India's assets. According to press sources, five companies – three domestic and two foreign – are in the running for the facilities, which include production capacity of 11Mta. The five firms submitting their bids today are: Cemex, Anhui Conch, JSW Cement, Piramal Enterprises and the Nirma Group. Of the five, only JSW Cement has a significant presence in the Indian market: the company h... |
India: Jaypee Group debts threaten cement unit sale04 July 2016, Published under Cement NewsCreditors of Indian conglomerate Jaypee Group have invoked debt restructuring provisions that allow them to convert loans into equity, turning them into the firm’s majority shareholders, reports the Economic Times. Jaypee Group is struggling under debts of INR582.5bn (US$8.7bn) and had agreed to sell its cement unit to UltraTech Cement to raise capital. Following the move by banks, UltraTech is understood to have written to the Gaur family – who founded and still run Jaypee – questioning ... |
Pakistan: WHR for Askari Cement's Wah plant01 July 2016, Published under Cement NewsPakistani cement producer Askari Cement Ltd is planning to install a waste heat recovery (WHR) plant for its 3500tpd clinker line at its Wah works in Rawalpindi, Punjab.It is currently negotiating with leading international WHR suppliers. At present Askari Cement has two plants in operation: one is located in Wah and the other in Nizampur (Khyber Pakhtun Khwa), with a combined production capacity of 8925tpd. |
Mongolia clinker line successfully carries out ignition01 July 2016, Published under Cement NewsThe 1Mta clinker line constructed by China Triumph International Engineering Co for China United Cement Co was ignited according to schedule on 10 June 2016. The step indicates that the project enters a stage of regular production despite challenge faced by the construction team. Extreme cold and blizzards hindered the building of the production line while labour shortages and restricted work visa added further issues. |
LafargeHolcim appoints Alessandra Girolami as Head of Investor Relations01 July 2016, Published under Cement NewsAs of 1 September 2016, Alessandra Girolami will be LafargeHolcim's new Head of Investor Relations. She will report to Group CFO, Ron Wirahadiraksa, and succeeds Michel Gerber. She was previously employed by Carrefour Group as Head of Financial Communications and Investor Relations. |
Cemex IPO values Philippines subsidiary at US$536m30 June 2016, Published under Cement NewsCemex has today announced that it will price shares in its subsidiary, Cemex Holding Philippines, at PHP10.75 (US$0.23), valuing the operation at around US$536m. Reuters News quotes Eduardo Francisco, president of underwriter BDO Capital & Investment Corp as stating: “That's good so there will be more upside and to ensure more demand post-listing”. Mr Francisco added that the offering was already oversubscribed. The valuation comes at the low end of the range earlier indicated by Cemex... |