Cement News tagged under: corporate
Fitch puts China Shanshui Cement ratings on Negative Watch26 June 2015, Published under Cement NewsFitch Ratings has affirmed China Shanshui Cement Group Limited's (Shanshui) Long-Term Issuer Default Rating (IDR) and senior unsecured ratings of 'B+'. The agency has also put the rating on Negative Watch to reflect the possibility of Shanshui running into insolvency in the event that it is forced to redeem the US$500m 7.5 per cent senior notes due 2020 (2020 notes) if its chairman Zhang Bin is removed or the majority of its board members is changed. This follows the announcement on 19 June... |
Qalaa Holdings to focus on core subsidiaries, including cement26 June 2015, Published under Cement NewsQalaa Holdings has signed a set of agreements with Financial Holdings International (FHI), one of Qalaa’s major co-investors, through which Qalaa will acquire from FHI additional stakes in subsidiaries that are core to Qalaa’s future as a holding company. These include stakes in companies involved in the energy, cement and transportation sectors, among others. Simultaneously, Qalaa will sell to FHI its holdings in the following non-core business units: MENA Homes, Grandview and Dina ... |
Medcem to invest in 3Mta works in north Colombia25 June 2015, Published under Cement NewsTurkish cement producer Medcem plans to built a 3Mta works in the north of Colombia, according to local press reports. The US$50m plant will be constructed in the Free Economic Zone of Puerto Brisa, near Dibulla in Guajira department. “The project represents an investment of US$50m over six years to supply the local industry in a part of Colombia where no cement factories exist,” El Economista quoted Víctor Covo, the project’s general manager as saying. The company is interested in produci... |
Fitch revises West China Cement's Outlook to Stable, affirms 'BB-' Ratings25 June 2015, Published under Cement NewsFitch Ratings has revised West China Cement Limited's (WCC) Outlook from Negative to Stable. Its Long-Term Issuer Default Rating (IDR), senior unsecured and bonds ratings have been affirmed at BB-. The change in Outlook reflects WCC's strengthened position in its core Shaanxi market and its improved leverage, following the recent equity placement to Anhui Conch Cement Company Ltd (Conch). Key rating's drivers Conch ties strengthen market leadership Collaborating with conch will stre... |
Limak Holdings eyes Mozambique entry25 June 2015, Published under Cement NewsTurkish conglomerate Limak Holding says it will invest US$150m in a 2Mta cement factory in Mozambique. Limak chairperson, Nihat Ozdemir, said his firm would create least 500 jobs during the first phase of the factory to be built in the Maputo port area. Limak has major interests in construction, cement, electricity and tourism in Turkey, Egypt, Pakistan, Saudi Arabia, Albania and Macedonia. |
American Starlinger-Sahm Inc moves into new HQ25 June 2015, Published under Cement NewsAmerican Starlinger-Sahm Inc has completed the move into its new North American headquarters. Located in Fountain Inn, South Carolina, the facility consists of a machine exhibition area, spare parts warehouse, and office space. American Starlinger-Sahm's new HQ in South Carolina, USA “North America is an important market with strong growth potential both in woven plastic packaging production and in plastics recycling. In our new headquarters with its machine exhibition area our ... |
New managing director at Unicon A/S25 June 2015, Published under Cement NewsSøren Holm Christensen, finance director in the Nordic and Baltic region of Cementir Holding, has been appointed managing director for its subsidiary, Unicon A/S in Denmark, as of 1 September 2015. Søren Holm Christensen takes over from Jesper Knudsen, who will take on a position as CEO of EL:CON, after nine years of employment, including six as Regional Director. |
Cementos Portland in EUR200m capital increase24 June 2015, Published under Cement NewsThe shareholders of Spain's Cementos Portland have approved a EUR200m increase in the Spanish cement producer’s capital to strengthen its balance and reduce its debt. Cements Portland will issue new shares at EUR6.5 each to help alleviate its EUR1.3bn debt while it works on “different alternatives” and wrote down EUR100m last February. |
TCL Group plans delisting24 June 2015, Published under Cement NewsIn the midst of a major debt restructuring exercise, Trinidad Cement Ltd (TCL) has announced that it could delist from the Barbados Stock Exchange (BSE), the Eastern Caribbean Securities Exchange (ECSE) and the Guyana Association of Securities Companies and Intermediaries Inc (GASCI) following its annual shareholders meeting next month. In a notice last week, the Caribbean-based company said that a continued listing on the three regional stock exchanges was “not economically feasible”. ... |
Buzzi hosts Missouri delegation at company HQ24 June 2015, Published under Cement NewsAt the end of March, Buzzi Unicem hosted a delegation of public officials and entrepreneurs from Missouri, led by state governor Jay Nixon. The governor was accompanied by Mike Downing, director of the Economic Development Department of Missouri, Richard Fordyce, director of the Department of Agriculture of Missouri, Tom Dempsey, president Pro Tempore of the Senate, speaker of the House John Diehl, state Senator Jill Schupp, state Representative John Rizzo, and various entrepreneurs and rep... |