Cement News tagged under: corporate
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... |
Prosperity considers Anhui Chaodong transaction08 June 2015, Published under Cement NewsProsperity Minerals Investment Ltd (PMIL), a wholly-owned by Prosperity International, is contemplating a transaction involving Anhui Chaodong Cement Co Ltd (ACC), a company whose shares are listed on the Shanghai Stock Exchange (SSE) and in which PMIL holds about 18.06 per cent interests. ACC has applied to the SSE for the suspension of dealings in the shares of ACC for five trading days commencing from today, reported ET Net News Ltd. |
BMM seeks to raise US$33m from IFC05 June 2015, Published under Cement NewsBMM Cements Ltd (BCL) is planning to raise US$33m (around INR2bn) from the International Finance Corporation (IFC) to fund its turnaround, Business Standard of India reports. Currently part of Bharat Mines & Minerals group (BMM group), BCL shareholders in November 2014 had agreed to transfer ownership to Sagar Cements Ltd (SCL). After the transfer, BCL will become a wholly owned subsidiary of SCL. BCL has a 0.95Mta integrated cement manufacturing unit in Anantpur district, Andhra Pradesh. ... |
Paraguay: INC expects to use up 20% biofuel05 June 2015, Published under Cement NewsParaguay’s Industria Nacional del Cemento (INC) announced that subject to satisfactory analysis results, the cement producer will be including biofuel in its fuel mix. A series of tests is currently being carried out by the Engineering Faculty of the National University of Asuncíon (UNA). Jorge Méndez Cuevas, CEO of INC, said the company could substitute fuel oil with up to 20 per cent biofuel. |
Arabian Cement Co 1Q revenue rises 11% YoY03 June 2015, Published under Cement NewsArabian Cement Company (ACC) said first-quarter revenue increased by 11 per cent to EGP585m (US$76.6m) compared to EGP529m a year earlier. The advance was mainly attributed to a 13 per cent increase in volumes as prices slip over the period. However, net profit dropped 52 per cent YoY to EGP56m, while the net profit margin was down 12 points to 10 per cent, the company in a statement. ACC said the EBITDA stood at EGP184m,19 per cent below than EGP227m in the corresponding period of last... |
TCC International to raise HK$3.63bn in rights issue02 June 2015, Published under Cement NewsTCC International Holdings Ltd is seeking to raise HKD3.63bn (US$468m) in a rights issue to fund acquisitions and for general working capital. The company said Monday it plans to sell up to 1.65 billion rights shares at HK$2.2 each in the proportion of one rights share for every two existing shares held. The offer price represents a 25.17 per cent discount to its latest trading price of HK$2.94 before it halted trading Monday. The company resumed trading today. |
Holcim launches exchange offer for Lafarge shares01 June 2015, Published under Cement NewsHolcim said Monday it has launched the public exchange offer for all the shares of Lafarge, marking the final stage of the merger of the two cement majors. Shareholders in Lafarge are being asked to offer their shares at an exchange ratio of nine Holcim shares for 10 Lafarge shares. Their acceptance of the exchange is the final stage to create a new company. Holcim shareholders have already approved the tie up. The combined LafargeHolcim group would employ approximately 115,000 people i... |
Vietnam rises 9% in first five months29 May 2015, Published under Cement NewsVietnam is estimated to have produced 26.6Mt of cement during January-May 2015, up nine per cent from a year ago, the government-run General Statistics Office said. In May alone, output amounted to 6.3Mt. During the five month period Vietnam produced 20.3Mt of cement, compared to an earlier estimate of 19.9Mt, according to the office’s revised figure. Vietnam currently has 74 cement production lines with a combined output of 77Mta, data from the Ministry of Construction said. The country... |
Roongrote tipped to take SCG helm, Thailand29 May 2015, Published under Cement NewsSiam Cement Group (SCG), Thailand's largest industrial conglomerate, has confirmed Roongrote Rangsiyopash is in line to be its next president, the Bangkok Post reports. The SCG board agreed to maintain Mr Roongrote's position as executive vice-president and end his top position at SCG Paper as well as announce the promotion of two other SCG executives to replace Mr Roongrote. "It is a process that we've been planning for several years, and it's clear the company wants Mr Roongrote to repla... |