Cement News tagged under: corporate
Bestway boosted by Pakcem contribution14 January 2016, Published under Cement NewsBestway Group of the UK, parent company of Pakistan's largest cement producer, announced that its consolidated turnover for the year ending 30 June 2015 increased by 20 per cent to GBP3.06bn from GBP2.55bn in 2014. Profit before tax for the year ended 30 June 2015 was up 39.9 per cent to GBP373.8m from GBP267.1m in 2014. All group businesses continued to be profitable, the group noted. Commenting on the results, group chief executive, Zameer Choudrey, CBE, said: “The past financial year has... |
Algeria: GICA breaks production record in 201514 January 2016, Published under Cement NewsGroups industrial des cements d’Algérie (GICA) broke its production record in 2015 when it manufactured 12,143,557t of cement, up five per cent when compared with its output of 11,55,280t in 2014. The volumes produced by the group’s 12 cement plants were “all sold in the domestic market, thereby honouring all orders and requirements expressed by the construction market,” said GICA. In the first 10 days of 2016, the group has produced 269,128t and sold 241,248t or 90 per cent of its ou... |
China Resources warns of significant decrease in full-year attributable profit14 January 2016, Published under Cement NewsChina Resources Cement said it expects profit attributable to the owners for the year ended 31 December 2015 to significantly decrease as compared with that of the previous year. Such decrease is primarily attributable to the lower selling prices of cement and clinker in China in 2015 as compared with those in 2014. It is also due to the depreciation of the yuan against other currencies since the beginning of the third quarter in 2015, resulting in exchange loss generated from non-yuan deno... |
Steppe Cement Ltd preliminary update to 31 December 201514 January 2016, Published under Cement NewsSteppe Cement Ltd recorded revenue for the year ended 31 December 2015 of KZT19,537m (US$54m), which was seven per cent lower than the KZT20,925m recorded in the corresponding period of 2014. Sales volumes reached 1.6Mt, an improvement of two per cent YoY. The average price (ex-VAT) for delivered cement was KZT11,890/t in 2015, an eight per cent decrease compared with KZT12,975/t in 2014, mostly due to price pressure from Russian imports until the KZT devaluation in August 2015. For 2015,... |
China Shanshui to buy back two outstanding senior notes due 2016, 202014 January 2016, Published under Cement NewsChina Shanshui Cement Group Ltd said Thursday it offered to buy back the outstanding amount of two senior notes valued at US$528.9m from investors. The Hong Kong-listed cement maker said it plans to buy back outstanding notes due 2016 and 2020 at 101 per cent of the principal amount plus accrued and unpaid interest in cash. The 2016 and 2020 notes have an outstanding amount of US$28.9m and US$500m, respectively, it said. The early redemption comes amid a power struggle after Tianrui Grou... |
Kenya: UltraTech in the race to buy stake in ARM?13 January 2016, Published under Cement NewsUltraTech Cement is said to be eyeing a controlling stake in ARM Cement of Kenya, a Nairobi-based newspaper reported. According to the report, the Indian cement producer UltraTech Cement is in the race to acquire a controlling stake in Nairobi Securities Exchange-listed ARM Cement, in which it could buy convertible preference shares of up to US$125m (KES12.7bn). ARM announced 23 December it is in talks with an unidentified institutional investor about a US$125m investment. |
Fitch upgrades Grupo Cementos de Chihuahua's ratings to 'BB'; outlook Stable13 January 2016, Published under Cement NewsFitch Ratings has upgraded Grupo Cementos de Chihuahua (GCC) local and foreign currency Issuer Default Ratings (IDRs) to 'BB' from 'BB-'. Fitch also upgraded GCC's US$260m senior notes due 2020 to 'BB' from 'BB-'. The rating outlook is Stable. The ratings upgrade reflects the strengthening of US residential construction across several of the company's markets as well as a favourable economic environment in northern Mexico that should support cement demand in the state of Chihuahua. Robust... |
Arkan appoints new chief operating officer, UAE13 January 2016, Published under Cement NewsArkan Building Materials, a leading construction and building materials company in the UAE, has appointed Abdelaziz Asad as its new chief operating officer. Mr Asad, a UAE national, started his career in 1991 with one of Arkan’s subsidiaries, Emirates Cement Factory. He joined as an electrical engineer and quickly advanced within the organisation, becoming the general manager of the company’s cement division, said a statement from Arkan. In his new role, Mr Asad will be reporting directly ... |
HeidelbergCement Ukraine appoints Thiede as board chairperson12 January 2016, Published under Cement NewsHeidelbergCement Ukraine, has appointed Silvio Thiede as chairperson of the board, the company said in a statement published by the Ukrainian News Agency. On 4 January the supervisory board of the company elected Thiede for the period of 11 January 2016-11 January 2019. Ukrainian News earlier reported that on 14 April 2015, the stockholders of HeidelbergCement Ukraine decided to close down the Dnipropetrovsk office and Amrosiivka branches (Donetsk region). |
CRH exits Israeli operations12 January 2016, Published under Cement NewsCRH confirmed it has exited the Israeli market, having sold its 25 per cent equity stake in its Israeli operations. Nesher Cement is majority-owned by Clal Industries (75 per cent) with CRH having held the remaining shares via holding company, Mashav. The boycott, divestment and sanctions (BDS) movement has been campaigning for CRH to sell its stake in Nesher Cement because its supplies cement used in the construction of Israel’s apartheid wall and settlements on occupied Pal... |