Cement News tagged under: corporate
Tanzania: Tanga six-months hit by devaluation of shilling17 September 2015, Published under Cement NewsTanga Cement Company has registered a net loss of TZS6.94bn- for the six months to June 2015, compared to a profit of TZS8.60bn in the corresponding period of year. Management partly attributed the decline to the devaluation of the Tanzanian shilling during most of the period. "The devaluation of the shilling resulted in a TZS7.9bn/- unrealised foreign exchange loss...The devaluation made the loan more expensive than when it was incurred," said Lawrence Masha, chairman of the company's Bo... |
New director general appointed at Kavkazcement17 September 2015, Published under Cement NewsIgor Nikolenko has been appointed the new General Director of CJSC Kavkazcement, part of Eurocement. A Eurocement statement stated that the new appointment was highly qualified with a 'deep knowledge of Eurocement group's business processes and long experience in the field of construction materials.' Mr Nikolenko was born in Belgorod in 1965. Having graduated from Belgorod Technological Institute of Building Materials in Mechanical Engineering in 1990, he came to work in the Belgorod cement... |
Lafarge Zambia reports first-half increase16 September 2015, Published under Cement NewsLafarge Zambia plc has posted a four per cent profit after tax from ZMW180.7m ((US$18.4m) in 1H14 to ZMW187.1m in the same period of 2015 despite the country's economic challenges and political uncertainties in Democratic Republic of Congo (DRC), which constitutes the company’s major export market. The company also recorded a 14 per cent turnover of ZMW699.1m in 2015 from ZMW614.3m in 2014. Lafarge Zambia CEO Emmanuel Rigaux said domestic demand in the second half is expected to continue t... |
GICA’s Ain El Kebira to launch on stock exchange16 September 2015, Published under Cement NewsGroupe Industrial des Ciments d’Algérie (GICA) plans to place 35 per cent of the capital of Ain El Kebira cement plant on the Algerian stock exchange in 2016, according to its CEO, Laid Khaber. The stake will be made available to institutional investors such as banks, financial and insurance companies. However, he emphasised that the cement company’s entry to the bourse does not mean it will be privatised. |
Myanmar: Arr Thit Man plans to double capacity16 September 2015, Published under Cement NewsMyanmar producer Arr Thit Man plans to double its cement output from 5000tpd to 10,000tpd by 2016, according to a report in the Myanmar Times citing senior officials. The company's plant is based in Kyaukse, Mandalay and it sells cement under the Double Rhinos brand. "We are a new brand, but we are focused on the quality of cement and fulfilling market demand," said the company's managing director. For the time being, Arr Thit Man plans to focus on meeting growing domestic demand rather t... |
Pakistan: Bestway Cement and Pakcem results update16 September 2015, Published under Cement NewsBestway Cement and group company Pakcem have posted a positive bottom line. Net turnover increased by 5.4 per cent from PKR28.9bn (US$277m) to PKR30.5bn for Bestway and Pakcem saw a 9.4 per cent increase from PKR5.11bn from the corresponding period to PKR5.58bn to June 2015. “We are happy to share our annual results for 2014-15 for Bestway Cement and six-month period for Pakcem, with growth in sales of 4.18 per cent for Bestway and 11.5 per cent for Pakcem,’ said Zameer Choudrey, chief exec... |
St-Gobain gets green light to acquire control of Sika16 September 2015, Published under Cement NewsThe Swiss competition commission (Comco) has authorised the control of Sika by construction materials giant St-Gobain, the French company announced in a press release on Tuesday. This decision follows the favourable ruling handed down by the European Commission on 22 July 2015 as well as the decisions already received from other competition authorities, notably in the United States and China. |
LafargeHolcim offers €60 a share in squeeze-out15 September 2015, Published under Cement NewsLafargeHolcim has decided to implement a squeeze-out procedure for the Lafarge shares not tendered between May and July 2015 (representing 3.56 per cent of the share capital). LafargeHolcim is offering to indemnify in cash the shareholders of Lafarge at a price of €60 per share. As an alternative to the cash indemnification proposed, an exchange option of 9.45 LafargeHolcim shares for 10 Lafarge shares has also been offered. On the date of implementation of the squeeze-out, Lafarge sh... |
Buzzi Unicem makes binding bid for SACCI15 September 2015, Published under Cement NewsBuzzi Unicem has made a second offer for fellow Italian producer SACCI to acquire its cement and ready-mix concrete business. In a statement Buzzi said it had offered a provisional price of EUR74m to be financed through liquidity on hand and/or existing credit facilities. A further variable outlay is expected on top of the original commitment which will be worth no less than EUR25m, Buzzi said. This variable outlay is connected to certain future events, most importantly the core earning... |
CRH plc completes Philippines element of LafargeHolcim transaction15 September 2015, Published under Cement NewsCRH has completed the acquisition of the assets acquired from LafargeHolcim in the Philippiness. In early August, CRH confirmed that the majority of the transactions relating to the package of assets to be acquired from LafargeHolcim were complete, with the exception of the operations in the Philippines which it advised would be finalised in 3Q15. |