Cement News tagged under: corporate
Moody's: West China Cement's ratings unaffected by Yaowangshan acquisition04 November 2015, Published under Cement NewsMoody's Investors Service says that West China Cement Ltd's (WCC) acquisition of Tongchuan Yaowangshan Ecological Cement Co Ltd (unrated) will not affect WCC's Ba3 corporate family or senior unsecured ratings. Ratings outlook stable On 1 November 2015, Yaobai Special Cement Co., Ltd. (unrated) – WCC's indirectly owned subsidiary – entered into an agreement with China Jiantou Trust Co, Ltd (unrated) to acquire a 100 per cent equity stake in Yaowangshan Cement for CNY392m, and take over CNY... |
Martin Marietta Materials expects aggregates prices to improve by some 8%04 November 2015, Published under Cement NewsMartin Marietta Materials, with a full year’s contribution from Texas Industries (TXI) increased turnover by 28.2 per cent to US$2695m in the first nine months of the calendar year while EBITDA advanced by 54.7 per cent to US$542m. The trading profit rose by 74.3 per cent to US$342.1m and the net interest charge rose by 27.6 per cent to US$57.4m. The pre-tax profit advanced by 94.2 per cent to US$291.3m and with the tax charge rising by a more modest 43.6 per cent, the net profit more th... |
Cemex completes Austrian & Hungarian disposals03 November 2015, Published under Cement NewsCemex announced yesterday that it has closed the sale of operations in Austria and Hungary to the Rohrdorfer Group for approximately EUR160.1m. The transaction was originally announced on 12 August 2015. The Austrian operations consist of 24 aggregate quarries (approximately 6.47Mt of aggregates sold in 2014) and 34 ready-mix plants (approximately 1.6Mm3 of ready-mix sold in 2014). Cemex's operations in Austria had net sales of approximately US$241m in 2014. The Hungarian operations consi... |
Egypt: SCG reports 18% drop in 3Q revenue03 November 2015, Published under Cement NewsSuez Cement Group of Companies (SCGC) reported an 18 per cent decrease in revenues for the third quarter of the year versus the same period in 2014 and 12 per cent for the first nine months. The company said that during this period the market demand experienced a limited growth (2.1 per cent for the quarter, 1.6 per cent for the nine months). Combined with a steep reduction in exports, a marked oversupply was witnessed in the domestic market, causing prices to decline. This overall t... |
Pakistan: Fauji Cement first-quarter earnings rise03 November 2015, Published under Cement NewsFauji Cement Co Ltd (FCCL) announced corporate earnings for the quarter ended 30 September where the company posted profits of PKR1.102bn (US$10.5m) against PKR601.96m a year ago, a company statement said on Thursday. "The result outperformed the market forecast for the quarter on the back of lower-than-anticipated cost of goods sold and financial charges," Faizan Ahmed at JS Global Capital said. Revenues increased by 4.9 per cent in 1QFY16 to PKR4.381bn, as local dispatches remained stron... |
PCA announces organisational changes in DC office, USA03 November 2015, Published under Cement NewsThe Portland Cement Association (PCA) has announced the addition of Rachel Derby to its Washington, DC staff. Derby will serve as vice president of government affairs, focussing on legislative relationships and advocacy. PCA also announced that effective November 1, A Todd Johnston has been promoted to executive vice-president of government affairs and that Collin Long has been promoted to senior director of government affairs. “We are very pleased to have Rachel join PCA,” said James G. T... |
Lucky Cement plans Punjab plant02 November 2015, Published under Cement NewsLucky Cement posted a net profit of PKR2.968bn (US$28.2m) during the first quarter ended 30 September 2015, 11.2 per cent higher than the same period of last year. Revenue declined by 1.2 per cent to PKR10.34bn versus PKR 10.47bn a year earlier. The reduction was attributed to a 2.7 per cent in sales volumes which was partially offset by 1.5 per cent increase in net retention due to improved sales mix. Domestic sales increased by 11 per cent to 1.07Mt (0.97Mt a year earlier), while exp... |
West China Cement to acquire Shaanxi-based producer02 November 2015, Published under Cement NewsWest China Cement said it agreed to acquire the entire equity interest of Tongchuan Yaowangshan Ecological Cement Co Ltd as well as shareholder's loan at CNY767m (US$121m). Yaowangshan Cement is located in the Yaowangshan region of Tongchuan District, Shaanxi Province. The Yaowangshan cement plant that it operates is primarily engaged in the production and sale of cement, with a 2.2Mta cement capacity. The move is part of efforts to facilitate consolidation in the sector in Shaanxi... |
ASEC to sell ASEC Minya Cement, ASEC Ready Mix02 November 2015, Published under Cement NewsQalaa Holdings announced yesterday that its business unit ASEC Cement has signed a sale and purchase agreement for the sale of its holdings in subsidiaries ASEC Minya Cement and ASEC Ready Mix Co – representing 46.5 and 55 per cent, respectively – to Qena Cement for total consideration of c.EGP1bn (US$124.5m). The financial close is expected to take place on or before 20 November 2015. Qalaa Holdings and its subsidiary National Development and Trading Company (NDT) own 70 per cent of ASEC ... |
Medcem Cameroon starts production02 November 2015, Published under Cement NewsMedcem Cameroon, part of Turkey-based Eren Holdings, has commissioned its new plant in Yaoundé, Cameroon, after delays that saw the unit postpone the start of operations from March to June and October. The company’s output is sold in 50kg bags, which retail at CFA4750 (US$7.97), according to local press reports. |