Cement News tagged under: corporate
Three firms reportedly submit bids for LH eastern India assets20 July 2015, Published under Cement NewsThree contenders have submitted binding bids to acquire LafargeHolcim's (LH) Indian cement assets in Jharkhand and Chhattisgarh, according to local press reports. CRH Plc., HeidelbergCement India Ltd and Baring Pvt Equity Asia have submitted the final bids for the assets with a combined capacity of 5Mta, two persons familiar with the development told Live Mint (India). "The bids have come in the range of INR4100 crore to close to INR5,000 crore and final round of negotiations have begun,"... |
QNCC net profit edges ahead, Qatar20 July 2015, Published under Cement NewsQatar National Cement Co's (QNCC) net profit rose by 1.97 per cent to QAR242.6m (US$66.6m) for the first half of this year compared to QAR237.9m in the comparative period of 2014. The company reported earnings per Share (EPS) of QAR 4.49 in 1H15 compared to QAR 4.40 a year earlier. Established in 1965, QNCC is the dominant producer in Qatar with a 55 per cent market share. The firm produces a range of products, including OPC (42.5), SRC and PFA cement (32.5R). The company, in which the go... |
LafargeHolcim buys out 50% interest in Lafarge Tarmac as part of divestment process17 July 2015, Published under Cement NewsAs part of the preliminary steps to implement the disposals required by the European Commission for its approval of the merger to create LafargeHolcim and as previously announced, the group today completed the acquisition of the 50 per cent share in Lafarge Tarmac held by Anglo American for GBP992m (including changes in working capital). This step is required to allow for the full divestment of Lafarge Tarmac, with the exception of the Cauldon and Cookstown plants and certain non-operationa... |
Holcim France to be renamed Orsima under CRH17 July 2015, Published under Cement NewsAs of 1 August 2015, the former French subsidiary of Holcim, now owned by CRH, will be renamed Orsima. With the acquisition of Holcim France, resulting from the merger between Holcim and Lafarge, CRH will have a market share of around 15 per cent in the country. The Ireland-based company now owns the three integrated cement works of Lumbers, Heming and Rochefort-sur-Nenon, the four grinding centres of Grand-Couronne, Dannes, Dunkirk and La Rochelle as well as the Montoir-de-Bretagne ble... |
Elementia raises MXN3.93bn with IPO, Mexico17 July 2015, Published under Cement NewsMexican construction holding Elementia raised MXN3.93bn (US$250.15m) with its initial public offering (IPO) on 9 July 2015. The company set an initial price of MXN17 per share and obtained resources 15 per cent below the estimated target of MXN 5.20bn. The maximum share price reached MXN18.50 which resulted in a net sum of MXN 3.77bn obtained, which will be invested in Fortaleza, the company's cement division. The resources will cover the expansion of production capacity at its Tula ... |
Kuwait Portland Cement Co earnings down 10% YoY17 July 2015, Published under Cement NewsKuwait Portland Cement Company earned KWD5.2m in the first half of this year (US$17.2m), or 55.1 fils per share, compared to KWD5.8m (61.12 fils per share) in the comparative period of 2014. The company said in a statement, posted on the Kuwait Stock Exchange website, that its total assets reached KWD82.34m, liabilities KWD17.48m in the 1H15, compared to KWD15.15m in 1H14. |
Lafarge China launches tender offer for Shuangma Cement17 July 2015, Published under Cement NewsSichuan Shuangma Cement said its controlling shareholder Lafarge China plans to launch a tender offer for its shares from other shareholders except Lafarge Shui On (Sichuan) Investment for CNY5.64 each, or CNY1.07bn in total. The tender offer is triggered by the merger between Lafarge and Holcim and is pending relevant approval. |
Saudi producers' 2Q net profit drops16 July 2015, Published under Cement NewsSaudi Cement reportedly dropped an 11.8 per cent in net profit for 2Q15 to SAR254m, from SAR288m in 2Q14. It attributed the fall in net profit to lower local sales without elaborating. Another Saudi producer, Najran Cement made net earnings of SAR77.8m in the second quarter ended 30 June, falling 7.77 per cent from SAR84.3m in the year-earlier period. The profit decline was mainly attributable to the increase in selling and distribution (cement transportation incentives), general and ad... |
TPIPL to issue debentures to refinance debt16 July 2015, Published under Cement NewsTPI Polene Plc (TPIP), Thailand's third-largest cement-maker, says it will issue five tranches of THB17bn (US$497m) worth of unsubordinated debentures to retail and institutional investors next month, with coupon rates ranging between 4.1-5.2 per cent, the Bankok Post reports. Chief executive Prachai Leophairatana said the first lot would be a three-year debenture carrying a coupon rate of 4.1 per cent while the second tranche for four years carries a coupon rate of 4.4 per cent. The third ... |
Tank Connection: President and CEO transition16 July 2015, Published under Cement NewsTank Connection (TC) announced their President & CEO, Bill Neighbors will be stepping down in September. The company has just crossed the 500 employee mark and announced earlier this year their transition as an ESOP, employee owned company. Mr Neighbors states: “This has been my personal plan for some time, but I also wanted to make sure that the right pieces were in place for Tank Connection to advance to the next level as the industry leader in storage. I could not be more pleased tha... |