Cement News tagged under: corporate
LH to sell two eastern Indian plants to Birla Corp17 August 2015, Published under Cement NewsLafargeHolcim announces that it has entered into a letter agreement with Birla Corp Ltd, subject to approval by the Competition Commission of India (CCI), for the divestment of certain assets in India for an enterprise value of INR50bn (approximately US$765.8m). The proceeds from the sale of the divestment business will be used to further reduce debt. As announced in April 2015, LafargeHolcim has received conditional clearance from the CCI for the merger. In that context, a package of ass... |
Shanshui Cement issues first-half profit warning, China17 August 2015, Published under Cement NewsShanshui Cement on Friday said it expects to record a loss in net profit for the six months ended 30 June 2015 compared to the net profit of the same corresponding period in 2014, adding that the loss is expected to be "relatively significant." Management attributes the loss to two main factors. Firstly, the group has seen sluggish cement demand in the regions where it operates, particularly in the northeastern and Shanxi regions. Secondly, severe overcapacity led to a "substantial" decr... |
Pakistan: Attock full-year profit rises17 August 2015, Published under Cement NewsAttock Cement reported an after-tax profit of PKR2.21bn (US$21.7m) in FY14-15, up 9.5 per cent compared to PKR2bn in the last fiscal year. Revenues climbed 4.3 per cent to PKR13bn during the review period compared to PKR12.5bn, AKD Research said in its report. The company’s gross margins, which improved by 407 basis points to 33.6 per cent in FY15, also contributed to the net earnings, the report said. The results were accompanied with an announcement of the company’s expansion plans. In ... |
Vietnam: Thang Cement project wins funding14 August 2015, Published under Cement NewsJSC Bank for Investment and Development of Vietnam (BIDV) and North Asia Commercial Joint Stock Bank (Bac A Bank) will lend a combined VND3.15trn (US$143.5m) to construction a new cement plant in the central province of Nghe An. Tan Thang cement plant, in Qunh Luu district, is a project with a total investment of VND4.54trn. It will have a capacity of 5000tpd of clinker or 1.98Mta of cement. BIDV and Bac A Bank signed on 13 August credit agreements with Tan Thang Cement JSC, under whi... |
Pakistan: Attock Cement plans 3300tpd plant14 August 2015, Published under Cement NewsAttock Cement Ltd has planned an estimated capital outlay of US$120m to install a new plant with a clinker production capacity of 3300tpd, securities analyst Sajjad Hussain at BMA Capital said. Currently the company has a cash and short-term investment reserves of PKR3.8bn. The location of the new plant will be next to the existing Hub Chowki plant site in Lasbella, Baluchistan, in the western province of Pakistan. “However, the mode of financing is yet to be decided,” Mr Hussain said. ... |
Buzzi Cement see stock market gains of 5%14 August 2015, Published under Cement NewsBuzzi Unicem was the best performer of the FTSE MIB blue-chip index of the Milan Stock Exchange yesterday, trading at more than five per cent higher at EUR16/share, which is the highest price since June 2008. The rise was stimulated by Exane BNP Paribas, which raised the share price target of Buzzi Unicem to EUR21.50, keeping the "outperform" recommendation. The analysts made the recommendation based on the first-half results of the Italian cement manufacturer, which registered a ri... |
Asia Cement still chasing full control of Shanshui Cement14 August 2015, Published under Cement NewsAsia Cement plans to raise convertible debt to gain full control of China Shanshui Cement. In a filing to the Taiwan Stock Exchange, the group said it hopes to raise US$400m from a zero-coupon issue, its first equity-linked deal in just over two years. This will fund its proposed takeover of Shanshui in which it owns a 20.9 per cent stake. On Wednesday Asia Cement and state-owned China National Building Material (CNBM) announced a joint conditional cash offer to purchase all the outstanding... |
Bangladesh: Lafarge Surma signs deal with real estate company14 August 2015, Published under Cement NewsLafarge Surma Cement Ltd (LSC) has signed a Memorandum of Understanding (MoU) with Building Technology & Ideas Ltd (BTI), one of the leading real estate companies of Bangladesh. Under the agreement, BTI will use Supercrete cement in all its construction projects. Masud Khan, finance director of Lafarge Surma Cement Ltd, and Md Sharifur Rahman, executive director, Construction of BTI signed the agreement on behalf of their respective organisations at the Six Season Hotel in Gulshan. |
Holcim Philippines' strong 2Q results13 August 2015, Published under Cement NewsHolcim Philippines Inc's strong sales continued in the second quarter of 2015 as its plants delivered record supplies of cement. Holcim Philippines net sales from April to June rose by 9.7 per cent to PHP9.4bn (US$203m) from PHP8.6bn in the 1Q15. The company’s second-quarter net income improved by 1.6 per cent QoQ to PHP1.5bn due to higher volume and prices. Holcim Philippines President and CEO, Eduardo A Sahagun, said keeping operations steady is important at a time of sustained strong d... |
India Cements reports low demand in 2Q1513 August 2015, Published under Cement NewsSouth India's largest cement maker by volume, The India Cements Ltd, on Wednesday said its profits for the quarter ended June 2015 were INR4010m (US$617.2m) from a loss of INR2960m (US$25.5m) in the comparable quarter last year. Cement producers in south India have previously found profits hard to come by with excess capacity and falling demand. "It's a quarter where price stabilisation happened and a slightly better quarter, but poor demand," said MD of ICL, N Srinivasan. He said hat the... |