Cement News tagged under: corporate
KKR backs SIMEC to invest in ABG Cement, India01 July 2015, Published under Cement NewsPrivate equity firm KKR is teaming up with diversified trading and commodities group SIMEC to invest INR9bn (US$141.5m) to take over the cement business of debt-laden ABG Group. The funding will help complete the delayed 5.8Mta cement project in Gujarat, multiple sources have told the Economic Times of India. The deal will be undertaken through a multi-tiered financial transaction. The first part of the transaction, to be concluded in the coming weeks, will see KKR fund SIMEC to pick up a ... |
Titan postpones dividend payment01 July 2015, Published under Cement NewsGreece's Titan Cement Co said yesterday that it would postpone its 2014 dividend payment, due on 1 July 2015 because of the bank holiday announced by the Greek government on Sunday. "Here will be a new announcement regarding the new date and the method of payment," of the dividend, the company said. |
Brazil: Semapa acquires full control of Supremo Cimentos01 July 2015, Published under Cement NewsSemapa has concluded the acquisition of full control of Supremo Cimentos, a Brazilian company in which it already held a 50 per cent stake. The purchase of the 50 per cent of Supremo Cimentos that Semapa did not yet own was announced in April, but was dependent on the fulfilment of several conditions, which have now been verified. Therefore, Secil through its affiliated company Ciminpart – Investimentos e Participações, SGPS – and NSOSPE Empreendimentos e Participaçõe (a Brazilian com... |
HeidelbergCement to merge Romanian subsidiaries01 July 2015, Published under Cement NewsHeidelbergCement will merge its three subsidiaries in Romania – Carpatcement Holding, Carpat Beton and Carpat Agregate – into a single company, according to the Romanian Insider. The new company will be called HeidelbergCement Romania. Carpatcement Holding has three cement factories in Romania, whereas Carpat Beton owns 18 concrete stations and Carpat Agregate operates 14 quarries and aggregates exploitations. The internal reorganisation process will end in December. HeidelbergCement’s Car... |
China: UBS lowers CRC target price, earnings estimates30 June 2015, Published under Cement NewsUBS Global Research lowered its target price for China Resources Cement (CRC) to HK$4.8 from HK$5.3, and maintained its 'neutral' rating. The research house said CRC has underperformed the Hang Seng China Enterprises Index (HSCEI) by 39ppt over the past six months, which it attributed mainly to stretched fundamentals in its key market of southern China. Year-to-date, the average selling price (ASP) of cement in Guangdong and Guangxi provinces has dropped 23.9 per cent in 2015 to CNY295/t (... |
Antoine Ducleax new Lafarge Central Europe CEO29 June 2015, Published under Cement NewsAntoine Duclaux is the new CEO of Lafarge Central Europe and heads up the future country cluster of Austria, Czech Republic, Hungary, Slovakia and Slovenia. Until recently, he was Senior Vice President Strategy at Lafarge’s headquarters following earlier appointments as Managing Director at Lafarge Emirates Cement, Dubai, and Lafarge Cementos, Honduras. He has been part of the Lafarge team since 2002, when he started as Vice President of Corporate Audit. |
Mexico: Elementia plans to raise about US$290m in IPO29 June 2015, Published under Cement NewsMexican building materials company Elementia plans to raise about MXN4.5bn (US$290m) in its initial public offering next month. A preliminary prospectus detailed that Elementia plans to offer 201 million shares at a range of between 20 and 25 pesos per share. The IPO will take place on 9 July and shares can begin trading on 10 July, the company said. It will also include a 15 per cent over-allotment above the base amount, which will bring the total number of shares to about 231 million, re... |
South Africa: Sephaku revenue up 36%29 June 2015, Published under Cement NewsDangote-backed Sephaku Cement said on Friday that its revenue for the year ended March rose by 36 per cent as EBITDA increased by 39 per cent to ZAR139m (US$10.2m). Operating profit soared 44 per cent to ZAR109m, with profit after tax up 57 per cent. The group recorded a profit before tax of ZAR72m and net profit of ZAR47m. Sales revenues came mainly from the Delmas milling plant which reached a steady state of production in November 2014. Clinker and cement production at Aganang commenced... |
Steppe Cement announces appointment of non-executive director29 June 2015, Published under Cement NewsSteppe Cement Ltd announced the appointment of Xavier Marcel Hervé Blutel - Guilloud de Courbeville to its Board of Directors, with immediate effect, as a non-executive director. Xavier Blutel (60) is currently the senior adviser, Wagram Corporate Finance, president and founding partner of SAS Baudrimont and a Conseiller du Commerce Extérieur de la France. Mr Blutel brings significant experience to Steppe Cement having spent 33 years as an international executive in capital intensive indus... |
New order for Loesche cement mill in Mexico26 June 2015, Published under Cement NewsCementos Moctezuma has selected Loesche’s LM 53.3+3 C cement mill, including COPE gearbox, to increase production capacity at its plant in Apazapan, Mexico. Loesche LM 53.3+3 C The VRM mill will be used to produce 205tph CPC 30 cement at 4000 Blaine as well as 95tph CPC 40 cement, also at 3700 Blaine. The scope of supply also includes a Loesche Dynamic Classifier as well as the COPE gearbox, including gearbox drive motors develop in cooperation with RENK AG. The COPE gearbox... |