Cement News tagged under: corporate
Cemex obtains required consents to amend its credit agreement08 March 2016, Published under Cement NewsCemex announced yesterday that, in line with the company's current initiatives of enhancing financial flexibility and reducing risk, it has obtained the required consents to amend its facilities agreement dated 29 September 2014, as amended and restated to delay the scheduled tightening in its consolidated financial leverage and coverage ratio limits by one year. The formalisation of the amendment is subject to customary conditions and is expected to be finalised in the following days. ... |
Cementir given antitrust approval for Sacci deal08 March 2016, Published under Cement NewsThe Italian Antitrust Authority has approved Cementir’s offer to purchase Sacci Spa's cement and ready-mix concrete business divisions. In a statement released yesterday, Cementir Holding said the Italian watchdog had published its decision not to carry out an investigation into the transaction, thus authorising subsidiary Cementir Italia to proceed with the acquisition. Sacci’s composition with creditors will be submitted to the vote of its creditors at a hearing set by the Court for ... |
Kenya: ARM Cement reportedly nears deal with foreign investor on stake08 March 2016, Published under Cement NewsKenyan producer ARM Cement is in the “final lap of concluding investment details with a potential investor,” CEO, Pradeep Paunrana, told Bloomberg in a recent interview. In December ARM announced it was in talks with a foreign institution that planned to invest as much as US$125m. The company has faced “liquidity challenges” that cast doubt on whether it is able to meet obligations on its commercial-paper programmes, the Capital Markets Authority said on Monday. In January, ARM said the for... |
Ciments du Maroc sees rise in 2015 net profit04 March 2016, Published under Cement NewsCiments du Maroc, part of the Italcementi group, posted an 8.5 per cent rise in turnover to MAD3.73bn (US$376m) in 2015. Cement sales advanced 1.2 per cent while ready-mix concrete and aggregate sales increased by 38 and 30 per cent, respectively. The company’s operating result improved by 14.8 per cent to MAD1.17bn and net profit was up 34.5 per cent to MAD1.02bn. |
CRH announces non-executive board appointment04 March 2016, Published under Cement NewsThe Board of CRH plc announced the co-option to the board, with effect from 3 March 2016, of William J Teuber, Jr as a non-executive director. Mr Teuber (64), a US citizen, is the Vice Chairman at EMC Corporation, a global leader in enabling businesses and service providers to transform their operations and deliver IT as a service. In previous roles he was responsible for EMC’s global sales and distribution organisation (2006-12) and served as Chief Financial Officer leading the company’s w... |
CRH full-year sales 25% ahead03 March 2016, Published under Cement NewsCRH's turnover rose by 25 per cent in 2015 to EUR23,635m while the EBITDA advanced by 35.2 per cent to EUR22198m. The trading profit increased by 39.3 per cent to EUR1277m. The net interest charge rose by 19.9 per cent to EUR295m and there was a EUR101m gain on disposals, compared with EUR77m in 2014, which led to a pre-tax profit 35.7 per cent higher at EUR10331m. The net attributable profit was 24.4 per cent ahead at EUR724m. Net debt at the end of December was 57.3 per cent higher at EU... |
Jamaica: CCCL posts higher full-year earnings03 March 2016, Published under Cement NewsCaribbean Cement Co Ltd (CCCL) posted JMD1.54bn (US$12.7m) in earnings for year ending December 2015, compared to the JMD139m a year earlier. The increase by the Jamaica-based producer, part of the TCL Group, comes despite big severance payouts. The separation of some former managers and voluntary redundancies late last year cost CCCL JMD436m. Among these, Anthony Haynes, who resigned from office as general manager last April to make room for Alejandro Varés as the new head, was the most ... |
Côte d'Ivoire: CIMAF inaugurates expansion project03 March 2016, Published under Cement NewsCiments de l’Afrique (CIMAF) on Tuesday inaugurated the completed expansion of its cement unit at Abidjan in Côte d’Ivoire in the presence of the country’s Prime Minister, Daniel Kablan Duncan. The project included the construction of a clinker silo, new raw material buildings, a grinding unit and cement storage and will take the plant’s total capacity from 0.5Mta to 1Mta. The project represents an investment of XOF20bn (US$33m). As a result, Côte d’Ivoire’s total cement capacity increase... |
Indonesia: Semen Baturaja reports double-digit sales growth03 March 2016, Published under Cement NewsSemen Baturaja achieved a 20.66 per cent rise in cement sales last year to IDR1.46trn (US$109.32m), the Indonesian stated-owned cement company has said. The sales growth has enabled the company to see its net profit increase by 5.43 per cent to IDR354.67bn throughout 2015. The government's focus on infrastructure projects is seen as benefitting cement companies that support construction and infrastructure firms. Sales of Semen Baturaja's bulk cement, often used in government infrastruct... |
Dangote Cement full-year boosted by new African plants02 March 2016, Published under Cement NewsDangote Cement posted a 25.6 per cent rise in 2015 revenues to NGN491.7bn (US$2.47bn) as new plants performed strongly across Africa, the company reported yesterday. New production facilities opened by the group in Senegal, Cameroon, Ethiopia and Zambia made their first contributions to the business in 2015 and as a result, volumes rose by 35 per cent to 18.9Mt. “New factories performed very successfully across Africa, gaining significant market share against long-established incumbents,” ... |