Cement News tagged under: corporate
TCL signs loan agreements with international banks08 September 2015, Published under Cement NewsTrinidad Cement Ltd (TCL) has made an announcement on its settlement of loan deals worth US$200m with international banking giants. TCL has signed the loan agreements, which will remain operational for a period of five years, with Credit Suisse and Citibank. During the recently held deal signing event at Citibank (Trinidad and Tobago), the chairman of TCL Wilfred Espinet has stated that the newly agreed deal represents a vital stage in the complete reorganisation process of the company,... |
Peru: Volcan mulls sale of Polpaico shares08 September 2015, Published under Cement NewsPeruvian mining firm Volcan could sell its share in Chilean cement company Polpaico if metal prices continue falling, according to the firm's CFO Jorge Murillo. Volcan could receive around USD 27mn (EUR 24.22m) for its share, of around 20 per cent, in the business. Holcim owns 54.3 per cent of Polpaico. |
Holcim Liban posts steep fall in 1H profit08 September 2015, Published under Cement NewsCement producer Holcim Liban posted an unaudited net profit of US$2m in the first half of 2015, down 78.3 per cent from net earnings of US$9.4m in the same period of 2014. The firm’s sales totaled US$66.7m in the first half, a decline of 28.5 per cent from US$93.2m in the same period of 2014. Gross profit margin reached 28 per cent in the first half of 2015 relative to 30.7 per cent in the same period of 2014. Holcim’s assets totaled US$275.1m at the end of June 2015, representing a decr... |
RAK Cement buys back 68,560 shares, UAE07 September 2015, Published under Cement NewsRas Al Khaimah Cement Co decided to repurchase 68,560 of its shares on Thursday at AED0.83/share. Accordingly, the total number of treasury shares rose to 10.29m with 45.6m shares remaining to be bought as part of the company’s buyback programme, according to a filing to the Abu Dhabi Securities Exchange Sunday. The cement firm recently reported a fall in its net profits for 1H15 to AED2.45m (US$0.667m), from AED 3.15m in the same period the year before. |
PPC Zimbabwe's capacity to rise to 1.5Mta in 201604 September 2015, Published under Cement NewsPretoria Portland Cement (PPC) plans to expand its cement capacity to 1.5Mta from the current 1.1Mta, following the completion of the company's new Msasa cement plant next year. The US$86m Msasa plant is expected to be commissioned in September 2016. The group expects to invest a total US$$200m on the 0.7Mta Msasa plant when the company finalises the entire project. The firm is still looking for a reliable source of limestone for the second phase of the project which entails establishment ... |
Nigeria: Dangote Cement reduces prices by NGN6000/t04 September 2015, Published under Cement NewsDangote Cement announced that it will lower the price of its 3X cement by NGN300/50kg bag or NGN6000/t. Onne van der Weijde, Dangote’s director general, has indicated that the company’s cost reduction strategy has started to bear fruit, enabling Dangote to achieve attractive margins and reduce the prices. Mr Van der Weijde added: "We hope this new pricing strategy will support the naira, by reducing unnecessary imports and by creating currency value through the income to be generated from... |
Canada: McInnis seeks tax agreement for port facility04 September 2015, Published under Cement NewsMcInnis Cement wants a tax stabilisation agreement for a US$40m distribution centre to be built at the Port of Providence. The City Council will consider a "bifurcated" tax stabilisation agreement for McInnis USA Inc, an offshoot of McInnis Cement headquartered in the Canadian Maritime province of New Brunswick, according to City Council President Luis Aponte. The cement company wants to divide a 12-year agreement into two parts - one pertaining to the real estate it wants to buy in the po... |
China: BBMG Corp’s CFO resigns04 September 2015, Published under Cement NewsWang Hongjun, BBMG Corp’s chief financial officer, has resigned his post due to 'work re-designation' without further elaboration. The Beijing-headquartered cement producer and property developer did not disclose the replacement of Mr Wang, adding Mr Wang had also ceased to be an authorised representative of the company. |
HeidelbergCement strengthens finances for Italcementi deal03 September 2015, Published under Cement NewsHeidelbergCement has strengthened its financing to prepare itself for the acquisition of Italcementi. On 31 August, the cement producer completed the disposal of its lime business in Germany to the Belgian Lhoist Group. Both companies agreed not to disclose any details about the transaction. In addition, HeidelbergCement successfully syndicated the bridge financing for the acquisition of Italcementi. All core banks of HeidelbergCement participated in equal shares in the syndication of the c... |
Pakistan: Fauji Cement earnings rise 57% in FY1503 September 2015, Published under Cement NewsFauji Cement Company Limited (FCCL) boosted its net earnings by more than a half to PKR4bn (US$39m) in FY15, the company’s financial results revealed on Tuesday. Higher margins coupled with a decline in finance cost helped the company earn an after-tax profit of PKR4.1bn or PKR2.9/share in FY15, up 56.7 per cent compared to PKR2.6bn or PKR1.8/share of the last fiscal year. The Rawalpindi-based cement manufacturer also approved a final cash dividend of PKR1.5 per share, taking the total pay... |