Cement News tagged under: corporate
Lafarge India initiates sale of cement units22 March 2016, Published under Cement NewsFrench cement-maker Lafarge's India arm has initiated the process of sale of its India business with the appointment of two investment bankers. The business comprising cements plants with a production capacity of 11Mta is valued at about INR110bn (US$1.647bn), the Business Standard reported. Piramal Enterprises, JSW Cement, CRH, KKR and Blackstone are cited as likely buyers, according to the paper. Last month, Lafarge India's entire India business was put on the market after a failed deal... |
HeidelbergCement's refinancing for Italcementi acquisition reduced22 March 2016, Published under Cement NewsHeidelbergCement priced a eurobond issue under its EUR10bn Euro Medium Term Note (EMTN) programme with an issuance volume of EUR1bn and a maturity date of 30 March 2023. The bond was issued at the upper end of the volume and the lower end of the coupon range. Demand was very high, said HeidelbergCement. The bond was more than three times oversubscribed. The proceeds will be utilised for general corporate purposes and especially to prefund the upcoming Italcementi acquisition. Thereby the vo... |
ThyssenKrupp Industrial Solutions to expand in MENA22 March 2016, Published under Cement NewsThyssenkrupp sees future growth in the MENA, and particularly in Saudi Arabia and Egypt, for its industrial solutions business area. Boris van Thiel, thyssenkrupp's CEO of the MENA region, said thyssenkrupp sees a huge potential especially in the area of energy efficiency programmes and downstream value chains. Mr Van Thiel further said that the importance of the MENA region for its business cannot be overstated. “Already today, more than 20 per cent of our global sales are achieved in th... |
Ambuja Cement prepares for 6-7% growth in 5 years22 March 2016, Published under Cement NewsIndia’s second-largest cement producer, Ambuja Cement, expects cement demand to grow by 6-7 per cent in the next five years as the Indian government ramps up infrastructure investment. In 2015 the domestic cement sector expanded by 1-2 per cent. To meet this future demand, the company plans to build an integrated cement works at Marwar Mundwa in Nagaur district, Rajasthan, with associated grinding units at Osara, Madhya Pradesh, and Dadri, Uttar Pradesh. The two projects reflect an invest... |
ACC forecasts 6% demand growth in 201622 March 2016, Published under Cement NewsIndia’s ACC predicts domestic cement demand to rise by six per cent in 2016 as spending on housing and infrastructure increases. The company’s clinker and grinding facilities in Jamul and Sindri are nearing completion, with commissioning expected in April-June. |
Ecocem to invest EUR5m in two UK terminals21 March 2016, Published under Cement NewsIreland-based Ecocem will open a new terminal at Runcorn, on the Manchester Ship Canal, to help the company import into the UK, and plans a second terminal later this year in the southeast of the country. The two terminals represent an investment of EUR5m. The closure of steel plants and coal-based power stations in the UK has led to a decreased supply in key raw materials for blended cements such as Ecocem’s ground granulated blast furnace slag (GGBS) cement and together with a fall in U... |
LafargeHolcim brands CRH purchase write-down claims "without merit"21 March 2016, Published under Cement NewsCRH is disputing the value of the assets it purchased in February last year as part of the requirement from competition regulators to allow the creation of LafargeHolcim. The EUR6.5bn price paid by CRH is now under scrutiny, according to Reuters. In its annual report, published last week, LafargeHolcim stated: " LafargeHolcim has received from CRH several notices claiming a reduction of the purchase price. LafargeHolcim is contesting those claims. "In view of the information availab... |
Cement Australia stake up for sale?21 March 2016, Published under Cement NewsOne of the two main shareholders of Cement Australia is reported to consider a potential sale of its 50 per cent stake, according to market sources. The value of Cement Australia is being discussed at US$800m, according to reports in Business Spectator. One theory suggests that Holcim could carry out the divestment ahead of plans to sell of its US$3bn Australia and New Zealand division to Adelaide Brighton in light of its merger with Lafarge. However, the deal would be subject to appr... |
Ukraine: Pushka Cement reports UAH5.8m loss in 201521 March 2016, Published under Cement NewsKramatorsk-based Pushka Cement Plant in the Donetsk region of Ukraine has preliminarily reported loss of UAH5.835m (US$219,364) for 2015. The Eurocement Ukraine subsidiary reported a loss of UAH17.178m in 2014. The assets of the company made up UAH 70.195m, receivables UAH 53.927m and current liabilities UAH 0.111m. |
Indonesia: PT Indocement streamlines operational efficiency21 March 2016, Published under Cement NewsIndonesia's second-largest cement producer, PT Indocement Tungall Prakarsa, has seen its net profit fall decelerate as operational efficiency measures have successfully taken hold The publicly-listed company’s Board of Directors announced that Indocement booked IDR4.36tn (US$33.3bn) of net profits last year, 17.6 per cent less than the IDR5.29bn in 2014. Its revenues slid by 11 per cent to INR17.8tn. Indocement finance director, Tju Lie Sukanto, said the drop in revenues was caused by lo... |