Cement News tagged under: corporate
China Shanshui Cement top shareholder to fund bond redemption19 November 2015, Published under Cement NewsChina Shanshui Cement's top shareholder, Tianrui Group, said it will provide funds to the cash-strapped firm to redeem a US$500m global bond, Reuters reports. "Tianrui Group shall cause Shanshui Cement to have sufficient funds in order to support the redemption of such 2020 Notes as required," China Tianrui Group said in a notice to the Hong Kong Stock Exchange late on Tuesday. China Shanshui is holding an extraordinary general meeting on 1 December to decide on certain changes in the... |
Lafarge Malaysia net profit boosted by cement revenue19 November 2015, Published under Cement NewsLafarge Malaysia Bhd, the country's largest cement manufacturer, recorded a 28.9 per cent increase in net profit to MYR70.65m (US$16.30m) for the third quarter ended 30 September 2015 from MYR54.81m, mainly due to higher sales from the cement segment, improved plant performance, and higher foreign exchange (forex) gains. Revenue for 3QFY15 rose slightly to MYR670.88m from MYR664.63m in 3QFY14, thanks to higher revenue from its cement segment which offset the lower revenue from its concrete ... |
UK: Breedon to acquire Hope Construction Materials18 November 2015, Published under Cement NewsBreedon Aggregates of Leicestershire, UK, has agreed to acquire Hope Construction Materials for GBP336m (US$510.94m). Hope Construction Materials, is a major producer of cement, concrete and aggregates in the UK with more than 160 operational sites. In 2014 Hope sold 1.6Mt of cement, 4.7Mt of aggregates and 2.2Mm 3 of concrete, generating revenue of GBP273.5m and profit before tax of GBP18.7m. The acquisition extends Breedon's UK geographic footprint, opening up markets in London, the sou... |
SCC Asean expansion on track18 November 2015, Published under Cement NewsThailand's largest cement producer Siam Cement Co (SCC) said it is on course to bring 6.3Mta of new cement capacity online in its key target markets of Cambodia, Indonesia, Myanmar and Laos between 2015-17. In an update on its strategy for its cement & building materials unit, reported on by SCB Securities in The Nation (Thailand), SCC said the investment programme is expected to not only provide SCC with high demand growth and a good margins but also offer a borderless network, lower logis... |
Sri Lanka: Tokyo Cement launches skyscraping brand18 November 2015, Published under Cement NewsTokyo Cement Group has launched its Nippon Cement-Pro brand. This is a new brand of high-performance cement specially formulated for high-rise buildings/skyscrapers and large-scale projects that require high quality and ultra-strong concrete. With buildings that require more than 30 floors becoming a norm as a result of Sri Lanka's expanding economy, Nippon Cement Pro, offers contractors, city developers and consultants who are constructing condominiums, hotels and city centres, a high-str... |
China Shanshui weighs up fundraising options following default17 November 2015, Published under Cement NewsChina Shanshui Cement says it is exploring a range of option to raise funds after defaulting on a CNY2bn (US$3.36m) bond last week. The options include issuing new shares to existing or other investors, restructuring part of its assets and securitising some of its assets by creating mortgages, the company said in a filing to the Hong Kong Exchanges & Clearing on Monday. “Each of these proposals is for the purposes of allowing the group to raise finance so it can repay the debt the group ow... |
Kenya: ARM seeks KES10.7bn in private bond17 November 2015, Published under Cement NewsARM Cement is set to raise up to KES10.7bn (US$105m) in debt funding from private investors, to retire short-term debts, Kenya's Business Daily newspaper reported . The cement manufacturer is now raising the amount through a privately placed five-year bond whose offer opened on Thursday last week and runs until 2 December. “The proceeds from the five-year bond will be used to replace existing short term borrowings. There is no increase in total debt only refinancing existing short-term d... |
KHD Humboldt Wedag nine-month performance17 November 2015, Published under Cement NewsKHD Humboldt Wedag reported a 26.2 per cent decline in consolidated revenue for the first nine months of the year to EUR125.4m, primarily due to the low order backlog at the beginning of the financial year, the company said in its 3Q15 interim report released last week. Significant contributions to revenue in this nine-month reporting period came primarily from projects in Russia and North America. Due to unexpected challenges and the related cost overruns in the execution of some large pr... |
Loesche to complete grinding series for Angola plant16 November 2015, Published under Cement NewsSinoma International ordered Loesche's complete grinding series for the cement plant of Nova Cimangola SA in Luanda, Angola. These will be the first Loesche vertical roller mills in Angola. The order for Nova Cimangola SA includes one cement raw material mill of the type LM 48.4, with a capacity of 400tph and two cement mills of the type LM 46.2+2 C/S, which are designed to have a capacity of 150tph cement each. Furthermore Loesche's coal mill of the type LM 24.20 DC completes the order of... |
Morocco: Cimar sees 7.6% EBITDA rise in 3Q1516 November 2015, Published under Cement NewsItalcementi-owned Ciments du Maroc (Cimar), Morocco, saw its turnover rise 1.8 per cent to MAD823m (EUR77.4m) in 3Q15, according to analysts at BMCE Capital Bourse. The figures do not reflect the current slowdown in public works and a lack of investment in social housing, which saw cement and clinker flows fall by 15.8 per cent QoQ (-4.2 per cent in 9M15). The rise in the cement price as well as the healthy sales of ready-mix concrete and aggregates, which expanded by 39.4 and 21.1 per cen... |