Cement News tagged under: corporate
Buzzi Unicem proposes to acquire SACCI19 March 2015, Published under Cement NewsBuzzi Unicem is offering EUR120m for a 99.5 per cent stake in SACCI and the simultaneous relief of all outstanding liabilities from a previous debt restructuring agreement. The proposal is seen as a further step in the consolidation of the fragmented Italian cement industry, where Buzzi Unicem is the second largest producer behind Italcementi. SACCI presently operates four cement plants, representing a current combined cement capacity of some 2Mta and 31 ready-mixed concrete batching pl... |
Reliance to sell part of cement division?19 March 2015, Published under Cement NewsReliance Infrastructure, part of the Anil Ambani-led Reliance Group, may sell half of its cement business to fund the acquisition of Pipavav Defence and Offshore Engineering. Reliance Cement is in talks with Heidelberg and Italcementi, and has offered a 50 per cent stake in the company, according to a report published yesterday by Business Standard (India). The prospective joint venture partner will also fund the company's cement capacity expansion - estimated to rise from 5Mta to 15Mta by... |
Cemex aims to trim debt by US$1bn in 201518 March 2015, Published under Cement NewsCemex is aiming to cut its debt by up to US$1bn this year. The company believes it can refinance US$2.9bn in bonds at a coupon of around nine per cent this year, according to a presentation to investors. Cemex had total debt of US$16.29bn at the end of 2014. Separately, Cemex said it expected compound annual growth of four per cent in sales volumes between 2014-2016. |
HeidelbergCement completes sale of North American and UK building products business17 March 2015, Published under Cement NewsHeidelbergCement on Friday completed the sale of its North American (excluding Western Canada) and United Kingdom building products business (collectively “Hanson Building Products”) to an affiliate of Lone Star Funds. “I am very glad to be able to hand over Hanson Building Products to a buyer which as an experienced financial investor will support the sustainable development of the business going forward,” said Dr Bernd Scheifele, CEO of HeidelbergCement. “This transaction marks the com... |
Holcim Board seek exchange ratio renegotiation for Lafarge-Holcim merger16 March 2015, Published under Cement NewsHolcim has issued a statement on its Annual General Meeting and the Board of Directors' decision to renegotiate the exchange ratio for the Lafarge-Holcim tie-up. The Board of Directors of Holcim Ltd has decided that the agenda for the Annual General Meeting of 13 April 2015 will only contain topics related to Holcim Ltd. This decision has been taken due to pending antitrust clearance in the US and India, pending EU approval of CRH as purchaser of divested assets, as well as delays in the ... |
Attock Cement to remit US$24m Iraqi project16 March 2015, Published under Cement NewsAttock Cement Pakistan Limited (ACPL), Pakistan, one of Pakistan’s largest cement manufacturers and exporters, has received government approval to remit US$24m as an equity investment for the establishment of a cement grinding unit in Basra, Iraq. The permission was given by the the country's finance minister, Senator Mohammad Ishaq Dar, who chaired the meeting of the Economic Coordination Committee (ECC) of the cabinet at the Prime Minister’s Secretariat on 15 March. An official governme... |
India: Aditya Cement starts third line, builds grinding unit16 March 2015, Published under Cement NewsUltraTech Cement Ltd has informed the Bombay Stock Exchange (BSE) that the company has commissioned its clinker plant of 2Mta at Aditya Cement Works, Shambhupura, Rajasthan. The 6000tpd kiln takes Aditya Cement's clinker capacity up to 7.18Mta and cement capacity to 5Mta. Meanwhile, the greenfield Jhajjar grinding unit at Haryana, northern India, is under construction and is expected to be commissioned in FY16. AC III will service the new 1.6Mta grinding station and the balance of clinker... |
Bangladesh: MI Cement will package growth16 March 2015, Published under Cement NewsMI Cement Factory Ltd plans to grow on the back of higher domestic cement demand. Bangladesh is expecting rapid development in terms of new public infrastructure, communication and housing facilities. At present, MI Cement Factory’s total cement production capacity is 5800tpd, or 1.74Mta. The plan is to install a new cement packaging facility to help meet demand. "We have decided to set up another packing unit and 1500t capacity ordinary Portland cement silo to enhance the delivery capaci... |
Lafarge Zimbabwe revenue declines 11%13 March 2015, Published under Cement NewsLafarge Cement Zimbabwe recorded a 11 per cent decline in turnover to US$60.4m for the year ended 31 December due to a drop in volumes and prices. In the period under review the group recorded a seven per cent drop in domestic sales and a three per cent decline in average selling prices. Profit for the year declined to US$80,950 from US$3.5m in 2013. “The reason of the decline of the operating profit was coming from a result of lower sales volumes as well as expenditures in investment t... |
TCC International Holdings net profit rises 22.5%13 March 2015, Published under Cement NewsTCC International Holdings Ltd said net profit surged 22.5 per cent to US$264m. The Chinese cement producer attributed the profit rise to strong sales in southern China, where production plants in Guangdong and Guangxi provinces contributed more to sales. However, both cement sales and average selling price has dropped in the second half of 2014, it said in a public statement. |