Cement News tagged under: corporate
Saudi's Najran Cement sells SAR400m through an Islamic bond15 June 2015, Published under Cement NewsSaudi Arabia’s Najran Cement has raised SAR400m (US$106.7m) through an Islamic bond of five years duration, it said in a statement on Sunday. The sukuk was privately placed with investors and was priced at 1.4 per cent over the three-month Saudi interbank offered rate (Saibor), the firm said in a stock market filing. In May, Najran Cement said it would issue a riyal-denominated sukuk which will be used to refinance debt and for general purposes. Saudi Fransi Capital, the investment bank... |
China Shanshui Cement new loans suspended11 June 2015, Published under Cement NewsChina Shanshui Cement Group Ltd said some banks have halted new loans and suppliers are demanding immediate repayment after a court put one of the cement maker’s main shareholders into receivership, Bloomberg reports. Some joint venture partners have also said they wanted to review their relationship with the company, Shanshui Cement said in a statement Wednesday in Hong Kong. The firm’s finances are likely to be impacted by the actions amid lawsuits against China Shanshui Investment, whic... |
HeidelbergCement announces new mid-term strategic priorities and financial targets10 June 2015, Published under Cement NewsHeidelbergCement has announced new mid-term strategic priorities and financial targets for the five-year period until 2019 in advance of hosting its Capital Markets Day 2015 in London later today. On the back of the positive outlook for the current fiscal year and a strong asset base, the Group aims to increase Group revenue from EUR12.6bn in 2014 to more than EUR17bn by 2019. Over the same period, Operating EBITDA is expected to grow from EUR2.3bn to more than EUR4bn. Following the success... |
Camargo Correa reportedly looking to sell stake in InterCement10 June 2015, Published under Cement NewsCamargo Correa is looking to sell a stake in cement maker InterCement for up to BRL3.6bn (US$1.2bn) to make new overseas investments, according to a report in Brazilian daily newspaper Folha de S Paulo. Camargo Correa is looking to sell between 10-18 per cent of InterCement for between BRL2bn-3.6bh, the newspaper reported on Tuesda. Folha reported that Camargo Correa's hefty BRL8.2bn of debt had led the company to seek a minority partner in order to take advantage of opportunities to grow ... |
Lafarge expects modest Czech sales growth10 June 2015, Published under Cement NewsLafarge Cement sales rose by five per cent in 2004 to CZK965m (EUR35m) due in part to a revival of domestic construction activity. Profit from operations soared by 53 percent to CZK179m. The growth is attributed to rising sales, an extraordinary revenue from the sale of carbon credits and operating savings, spokesperson Milena Hucanova told CTK Business News. The company, which operates the 1.2Mta Cizkovice cement works, expects a modest growth in sales this year. Czech cement ... |
ARM Cement ratings affirmed, Kenya09 June 2015, Published under Cement NewsGlobal Credit Ratings has today affirmed the national scale ratings assigned to Kenyan cement producer ARM Cement Ltd of A(KE) and A1(KE) in the long term and short term respectively, with the outlook accorded as Stable. Summary rating rationale Global Credit Ratings (GCR) has accorded the above credit rating(s) to ARM Cement (ARM) based on the following key criteria: ARM is becoming an increasingly important player in the East African cement industry, with its market share having grown... |
USA: Former Ash Grove chairman and president dies09 June 2015, Published under Cement NewsAsh Grove Cement Company has announced that James P Sunderland, former company chairman and president, passed away on 27 May 2015. Mr Sunderland joined the Ash Grove Lime and Portland Cement Company in 1957 as its corporate secretary in Kansas City. In his 43-year career at Ash Grove Cement, he held several leadership positions including serving as the company’s chairman and president. During Mr Sunderland’s tenure, Ash Grove Cement became one of the largest portland cement producers in t... |
Indonesia: Rembang plant on course for 2016 start-up08 June 2015, Published under Cement NewsState-owned cement producer PT Semen Indonesia expects is Rembang cement plant, Central Java, to be completed in 2016. “By the end of 2016, the construction works are expected to finish so that [the factory] is ready for operation,” PT Semen Indonesia president director, Suparni, told The Jakarta Post in Surabaya. “The products are oriented for distribution in Central Java, East Java and West Java.” The 3Mta cement plant will produce cement branded as ‘Semen Gresik’ and has been built wit... |
Sagar Cement rail line on track for July opening08 June 2015, Published under Cement NewsIndia's Sagar Cement announced will commission its INR1200m (US$18.7m), 7km private railway line next month. This line will connect Sagar’s plant, near Matampally, in Nalgonda, Andhra Pradesh, with the main railway line. S Sreekanth Reddy, Sagar Cement’s executive director, said: “The company had already received its first train and full commercial operations will begin after safety checks by end of July”. The railway line is likely to boost the company’s market reach as well as slash frei... |
Arawak Cement’s future hangs in the balance08 June 2015, Published under Cement NewsSome 200 employees of Arawak Cement plant await the decision of a high-level team from parent company Trinidad Cement Limited (TCL) on the future of the cement plant on based in St Lucy in Barbados. TCL chairman, Wilfred Espinet, confirmed that after the parent company’s shareholders’ annual general meeting in July, the board of directors and TCL management will focus on Arawak. Espinet explained that after successful negotiations with creditors, the company was able to pay off its debts w... |