Cement News tagged under: corporate
South Africa 2Q volumes edge ahead09 October 2015, Published under Cement NewsDomestic cement demand in South Africa increased by 1.5 per cent YoY to 3.08Mt in the second quarter of 2015, according to a volume update posted on PPC’s website yesterday. The 2Q growth follows a strong advance in the first quarter of this year, when volumes increased by 15.6 per cent compared to the same period of 2014. |
Cementos Portland Valderrivas appoints new directors09 October 2015, Published under Cement NewsCementos Portland Valderrivas (CPV), part of Spain’s FCC, has appointed Carlos Manuel Jarque, current CEO of FCC, and Juan Rodriguez Torres, FCC adviser and newly-appointed non-executive chairman of the Realia real estate co, as directors of CPV. Both men are linked to Mexican magnate Carlos Slim, who acquired a 25.6 per cent majority stake in FCC last year. This places him ahead of Esther Koplowitz, who controls a 22.4 per cent stake. The appointments are the latest step in an ongoing pro... |
China: BBMG to issue CNY1bn medium term notes09 October 2015, Published under Cement NewsCement producer and property developer BBMG Corporation announced that it will issue CNY1bn (US$157.6m) medium term notes on the interbank market on 14 October 2015 to be used to repay bank loans. The corporation said in a statement that the medium term notes will be issued at the face value, and the coupon rate determined in the process of bookbuilding. The issue may be redeemable on the fifth year, but, if it continues, there will be a new adjusted rate. Both value date and payment due d... |
Reliance Group to exit cement business?08 October 2015, Published under Cement NewsThe Reliance Group has decided to exit the cement business by putting privately-held Reliance Cements up for sale, the Economic Times of India reports. Reliance Group has recently mandated Morgan Stanley and SBI Caps to find potential buyers as the group has decided to focus on new growth areas like defence, according to the article published today. Reliance's foray into the cement industry was originally linked to the growth of its power business with fly ash generated from its Sasan pow... |
China Resources Cement issues profit warning07 October 2015, Published under Cement NewsChina Resources Cement (CRC) has said that based on the preliminary assessment of the group’s unaudited consolidated management accounts for the nine months ended 30 September 2015, attributable profit during the period is expected to "significantly decrease" as compared with that of 9M14. The decline is primarily attributable to lower selling prices of cement and clinker in China compared with the year before, as well as the depreciation of Renminbi against other currencies since the begin... |
Vietnam nine-month sales up 3% YoY06 October 2015, Published under Cement NewsVietnam sold 52.11Mt of cement and clinker in the first nine months of this year, rising three per cent from a year earlier and fulfilling 73 per cent of the whole-year target, the country’s Building Material Department under the Ministry of Construction said. Of the sum, 40.26Mt of cement were sold at the domestic market, up eight per cent YoY, while exports fell 12 per cent YoY to 11.85Mt and fulfilling 62.4 per cent of the full-year target. In September, Vietnam’s cement and clinker ... |
Lafarge Nigeria unit takes control of UNICEM06 October 2015, Published under Cement NewsAn affiliate of Lafarge Africa has completed a 100 per cent acquisition of Nigeria's third-largest cement manufacturer, United Cement Company of Nigeria (UNICEM). Lafarge said its affiliate Nigerian Cement Holdings (NCH), owned a 70 per cent equity in UNICEM before agreeing a deal last November to buy the remaining 30 per cent stake from Flour Mills, Reuters reported. Unicem, which is based at Mfamosing, close to Calabar, southeastern Nigeria. Unicem is building a 2.5Mta line which will br... |
Egypt: Qena Cement makes offer for larger stakes in Qalaa subsidiaries06 October 2015, Published under Cement NewsEgyptian investment company Qalaa Holdings announced Monday that it received a preliminary acquisition offer from Qena Cement to buy stakes in both its subsidiaries ASEC Minya and ASEC Ready Mix Concrete. According to the offer terms, Qena Cement t is seeking to acquire 46.5 per cent stake and 55 percent stake in ASEC Minya and ASEC Ready Mix Concrete respectively. Qalaa owns indirect stakes of 24.1 per cent and 28.5 per cent in both ASEC Minya and ASEC Ready Mix Concrete respectively. Me... |
CalPortland completes acquisition of California assets from Martin Marietta Materials, USA06 October 2015, Published under Cement NewsTaiheiyo Cement USA, Inc and CalPortland Company announced that the purchase of certain Riverside cement business assets in California from Martin Marietta Materials, Inc was successfully completed on 30 September, 2015. The assets identified in the purchase include the Oro Grande Cement Facility, and two rail sided product distribution terminals located in in National City, CA and Stockton, CA. |
Italcementi announces change to Board of Directors05 October 2015, Published under Cement NewsItalcementi announced that Elena Zambon is retiring from its Board of Directors for professional reasons. Ms Zambon had been acting as Independent Director and was a member of the Strategic Committee of the Company, having been in charge since 16 April 2010. |