Cement News tagged under: corporate
South Africa: PIC increases stake in PPC06 May 2015, Published under Cement NewsThe Public Investment Corporation (PIC) had increased its investment in PPC to 15.165 per cent, the South African cement producer yesterday. The PIC confirmed in December when the AfriSam Group made a non-binding proposal of a merger with PPC that the corporation held 12.57 per cent of PPC and 66 per cent of AfriSam. Talks between the two cement producers were halted in March when they were unable to reach consensus on the terms of the proposed merger. |
Vicat sees weak volumes in Europe & Turkey05 May 2015, Published under Cement NewsVicat's first quarter turnover emerged 0.1 per cent ahead at EUR537m, which represents an underlying decline of eight per cent. The cement turnover improved by 5.9 per cent to EUR341m, as cement shipments declined by 7.7 per cent to 4.25Mt. The turnover in concrete and aggregates was 5.2 per cent lower at EUR189m as aggregates shipments declined by 18.7 per cent to 4.19Mt and ready-mixed concrete deliveries came off by 9.1 per cent to 1.72Mm³. Other products and services generated a turno... |
LH clearance received in US and Canada05 May 2015, Published under Cement NewsLafarge and Holcim have received final approval for their proposed merger from the competition authorities in the USA and Canada. All competition approvals necessary for closing the transaction have now been obtained ahead of the expected closing in July 2015. Following the regulatory assessment in all key jurisdictions, Holcim and Lafarge can now present a final list of divestments to satisfy regulatory requirements. These divestments remain subject to the completion of the merger,... |
Buzzi Unicem's bid for Sacci expires05 May 2015, Published under Cement NewsBuzzi Unicem’s offer to buy Sacci SpA has expired after being rejected by the banks and creditors and the bidder is no longer bound to any commitment, the Italian cement major announced. “We inform that the population of the banks and creditors that take part in the debt restructuring agreement pursuant to article 182-bis of the Bankruptcy Law did not endorse the proposal by Buzzi Unicem. The offer has expired today and as such Buzzi Unicem is released from any subsequent commitment,” Buzzi... |
Holcim Indonesia's 1Q15 revenue declines on weak demand05 May 2015, Published under Cement NewsHolcim Indonesia recorded a decline in sales revenue of five per cent to IDR2.25trn in the first three months of the year, as volumes were down by seven per cent, reflecting the contraction in domestic demand over the period. Net income dropped to IDR32.7bn (US$2.5m) in the January-March period from IDR323.6bn in the same quarter last year. National demand for cement fell to 13.9Mt compared to four per cent growth (or 14.3Mt) over the first quarter last year. In addition, at the ... |
Martin Marietta first-quarter sales up 66%05 May 2015, Published under Cement NewsMartin Marietta reported consolidated first quarter net sales of US$631.9m compared with US$379.7m a year earlier, an increase of 66 per cent. Aggregates product line volume increase of 17.1 per cent, aggregates product line price increase of 11.4 per cent. Heritage aggregates product line volume increase of seven per cent, excluding shipments from 2014 divestitures from prior-year quarter. Reported heritage volume increased 3.7 per cent. Heritage aggregates product line price increase of 1... |
Argos acquires Puerto Rico operations01 May 2015, Published under Cement NewsArgos acquired a stake of 60 per cent in Wetvan Overseas, a company that controls a terminal for receiving, storing, selling and distributing cement in Puerto Rico, for an amount of more than US$18m. The remaining 40 per cent belongs to Grupo Vicini, a renowned Dominican business group that has investments across the Caribbean and Central America. Thanks to this transaction, Argos will see its production capacity rise by 250,000tpa, thus ensuring a local market share of about 15 per cent i... |
Egypt: Suez Cement sees 3% fall in 1Q15 revenues01 May 2015, Published under Cement NewsSuez Cement Group of Companies (SCGC), part of the Italcementi Group, saw revenues decline three per cent in the first three months of the year versus the same period of 2014. EBITDA for the quarter also fell by 49 per cent, mainly due to rising fuel prices resulting in a sharp 66 per cent drop in net profit. Unforeseen pressures on the construction sector as a whole were said to have depressed overall demand for cement products and, coupled with higher energy costs, this negatively impac... |
Holcim Philippines has PHP2bn capex plan01 May 2015, Published under Cement NewsHolcim Philippines Inc will set aside PHP2bn (US$44.8m) for its capital expenditures (capex) this year to boost capacity in a bid to meet rising demand amid sustained construction activity nationwide. The company noted that government spending for infrastructure, the expansion of the private commercial, residential and industrial developments and the increased pace of public-private partnerships (PPP) will provide greater opportunities for the company. Holcim Phillipines will increase its... |
Oman Cement’s new mill on target for 4Q1501 May 2015, Published under Cement NewsThe installation of a new cement mill at the Rusayl complex of Oman Cement Company will be completed by the fourth quarter of this year, chairman of the board, Dr Abdullah Abbas Ahmed, told the Oman Daily Observer. The plant will increase production by an additional 150tph following the completion of the new expansion, he stated. The infrastructure supporting the cement silos and bulk dispatches is currently under installation, said Dr Abdullah Abbas Ahmed. In unaudited interim financial r... |