Cement News tagged under: corporate
Egypt: South Valley Cement to double capacity03 September 2015, Published under Cement NewsTamer Abdel Rahman, investor relations manager of South Valley Cement, said that the company intends to double its production capacity to 3.2Mta. He added that the intended increase is supported by two new cement mills under construction, Alborsa newspaper reported. Simon CDI is building the new line which will have a cement capacity of 1.7Mta. The new capacity is due to come on-stream in 2017. |
Chile: Cemento Polpaico to pay US$14.6m in back-taxes03 September 2015, Published under Cement NewsCemento Polpaico reported that the Chilean tax office (SII) has ordered the cement producer to pay U$14.6m in back-taxes for the years 2012 and 2013. Liquidations have led to US$7.2m outstanding with the country’s revenue authorities, with adjustments, interest and fines by SII increasing the amount payable to US$14.6m. Polpaico indicated that it believes the adjustments are unfounded and incorrect and is expected to complain to the relevant tax authorities. |
LafargeHolcim to pay post-merger dividend03 September 2015, Published under Cement NewsFollowing the successful closing of the merger of Lafarge and Holcim, the new LafargeHolcim Ltd has announced that it will distribute an exceptional scrip dividend of one new-issue share for every 20 LafargeHolcim Ltd shares held. Settlement and delivery of the new-issue shares will start on 10 September, LafargeHolcim Ltd said. The group shareholders approved in May a capital increase via an issue of approximately 28.9m new shares, corresponding to five per cent of LafargeHolcim Ltd’s capi... |
Simon Vivian announced as new MPA chairman02 September 2015, Published under Cement NewsSimon Vivian, currently chief executive of Breedon Aggregates Ltd, the UK’s largest independent aggregates business, has been appointed MPA chairman for the next two years. He will succeed Bill Brett of the Brett Group, from 1 September 2015, and of the Mineral Products Association’s (MPA) five chairmen to date, he is the third to serve from an independent company. Nigel Jackson, chief executive MPA, paid tribute to Bill’s contribution to MPA over the last two years saying: “Bi... |
Fitch Downgrades Shanshui to 'B-'; Outlook Negative02 September 2015, Published under Cement NewsFitch Ratings has downgraded China Shanshui Cement Group Ltd's (Shanshui) Long-Term Issuer Default Rating (IDR) and senior unsecured ratings to 'B-' from 'B+'. The agency has also removed the company from Rating Watch Negative and assigned it a Negative Outlook. The Recovery Rating on the senior unsecured ratings remains at 'RR4'. The rating downgrade reflects the continued weak business environment and Shanshui's reliance on short-term financing, which could pressure liquidity. The Negativ... |
Siam Cement Group to miss full-year revenue target02 September 2015, Published under Cement NewsSiam Cement Group, Thailand's largest industrial conglomerate, expects to miss its revenue target of THB480bn (US$13.42bn) this year as consumers' purchasing power has declined amid a continued poor global economic outlook, Bangkok Post reported, citing chief executive Kan Trakulhoon. |
UltraTech Cement poised to lift capacity to 71Mta02 September 2015, Published under Cement NewsUltraTech Cement is set to take its capacity to 71.2Mta by 31 March 2016 on the back of ongoing projects as well as recent acquisitions, chairman Kumar Mangalam Birla said on Friday. "Despite the cement industry being snowed under the slowdown in the rural economy, lack of investment from both private and public sector coupled with the overall sluggish demand, UltraTech had put in a commendable performance...With the on-going projects underway, the capacity in India will grow to 71.2Mta by... |
Arabian Cement approves selling frozen stocks of shareholders, Egypt02 September 2015, Published under Cement NewsArabian Cement’s ordinary general assembly yesterday approved the selling of shareholders frozen shares. The OGM refused a Board of Directors restructure, and is to retain the same members of the Board of Directors. (Source : EGX & Arab Finance editor) |
Fitch affirms CRH rating, but lowers outlook01 September 2015, Published under Cement NewsFitch Ratings has affirmed Ireland-based building materials company CRH plc's Long-term Issuer Default Rating (IDR) and senior unsecured rating at 'BBB'. It has also downgraded the Short-term IDR to 'F3' from 'F2'. All ratings have been removed from Rating Watch Negative. The Outlook is Negative. This follows the group's announcement of its agreement to purchase CR Laurence Co, Inc (CRL) for a total consideration of USD1.3bn (EUR1.2bn). The 'BBB' senior unsecured ratings for subsidiaries CR... |
Moody's: Conch Cement's 1H15 results are in line with its A3 rating01 September 2015, Published under Cement NewsMoody's Investors Service, (Moody's) says that Anhui Conch Cement Co Ltd's 1H15 results are in line with its A3 issuer rating and stable outlook. "Conch's strengthened market position and maintenance of low debt leverage in 1H15 continue to support its A3 rating, despite the pressures from industry overcapacity and the slowdown in infrastructure and property developments," said Franco Leung, a Moody's Vice President and Senior Analyst. Conch's revenue declined 15.8 per cent to CNY24.2bn ... |