Cement News tagged under: corporate
Lafarge to buy back Baring stake in Indian unit21 January 2015, Published under Cement NewsLafarge India is reportedly buying back the 14.03 per cent stake it sold to global private equity investor Baring Private Equity Asia in 2013. Through its wholly-owned subsidiary Paris Cement Investment Holdings, Barings Asia acquired a 14.03 per cent stake in Lafarge India for EUR200m. According to local press reports, the share agreement with the PE fund is said to have a clause which triggers a buyback case in case there is any change in the shareholding structure. With Lafarge and Holc... |
CCI decision on Lafarge and Holcim merger due ‘within a month’20 January 2015, Published under Cement NewsThe Competition Commission of India (CCI) will soon decide on the proposed merger between Lafarge and Holcim, the Economic Times (India) cited CCI chairman, Ashok Chawla, as saying. "The final order on the case should be out within a month," Mr Chawla said. In December the cement producers said in India, both companies “are well on track” in preparing the merger with the future structure for this part of the world. Sources told the ET that the CCI is likely to prescribe a structural remed... |
Egypt: Supreme Administrative Court suspends privatisation appeal20 January 2015, Published under Cement NewsThe Supreme Administrative Court has decided to halt proceedings looking into the appeal against the privatisation of Egypt-based Beni Suef Cement Company. The court has ordered that workers are reinstated to the company but has temporarily suspended looking into the privatisation appeal. The suspension is pending another court decision in a case questioning the constitutionality of a law issued last year, which bans third parties from challenging sales or investment contracts signed betw... |
HeidelbergCement expects positive earnings impact on falling prices20 January 2015, Published under Cement NewsHeidelbergCement AG expects the falling oil prices to have a positive effect on the company`s earnings in 2015, a company spokesperson told German weekly Euro am Sonntag. The low fuel prices will have a positive impact on the company’s energy costs, the spokesperson said. In November, the global cement major said its third-quarter operating income before depreciation (OIBD) increased by 10 per cent to EUR866m thanks in part to price increases and declining energy prices. |
Yamama Cement Co fourth-quarter earnings down 14.61% YoY19 January 2015, Published under Cement NewsYamama Cement Co recorded a 14.61 per cent decline in net earnings in the fourth quarter of 2014 to SAR152m (US$40.5m), compared to SAR178m in the comparative period of the previous year. However, earnings were up 10.95 per cent compared to the SAR137m recorded in the 3Q14. Full-year profit also declined by 22.87 per cent YoY from SAR870m. Operating profit also fell 20.63 per cent to SAR658m, compared with SAR829m a year earlier. |
Fitch affirms Pacasmayo's ratings; outlook stable19 January 2015, Published under Cement NewsFitch Ratings has affirmed the following ratings for Cementos Pacasmayo SAA): • Foreign currency Issuer Default Rating (IDR) at 'BBB-'; • Local currency IDR at 'BBB-'; • Senior unsecured US$300m notes due 2023 at 'BBB-'. The Rating Outlook is Stable. Key rating's drivers Solid business position Fitch said the ratings reflects Pacasmayo's solid business position, as the only cement producer in Peru's northern region which has resulted in high margins, low leverage and solid liquidi... |
Blackstone, CVC reportedly among bidders for Lafarge and Holcim assets15 January 2015, Published under Cement NewsGroups led by Blackstone Group LP and CVC Capital Partners Ltd have submitted bids for assets put up for sale by Lafarge and Holcim, according to reports by Bloomberg citing people familiar with the matter. Blackstone teamed up with Cinven Ltd and Canada Pension Plan Investment Board, while CVC made a bid with Singapore’s sovereign-wealth fund GIC, the undisclosed sources said. CRH, the Dublin-based building-materials company, is also reported to be among those who have submitted bids for... |
Cameroon: first raw materials arrive at Dangote’s Douala plant14 January 2015, Published under Cement NewsDangote Cement has received the first cargoes of raw materials for its new cement works at Douala, Cameroon. The delivery consists of clinker, gypsum and pozzolan, produced in the 27ha quarry in Tombel, in the south-west of the country. Dangote has an exploitation agreement for five years for the location. Over the past two weeks, the company has been carrying out equipment tests in the new 1.5Mta plant, which represents an investment of XAF50bn (US$90m). |
Johnston named PCA Government Affairs Vice President14 January 2015, Published under Cement NewsPortland Cement Association named A Todd Johnston as vice president for government affairs, effective 19 January 2015. Based in the association's Washington office, he will represent PCA and its members with the federal government. Johnston comes to PCA with a strong record of experience and accomplishments in state government, industry, and in Congress, the association highlights. Most recently, he served as staff director for the Subcommittees on Environment and Energy under the US Hous... |
Cementir Holding plans rights issue, Italy14 January 2015, Published under Cement NewsCementir Holding is to ask it shareholders to approve a rights issue of up to EUR300m, the Italian cement major has said. The board is calling an extraordinary shareholders’ meeting on 23 February 2015 to mandate the board for the rights issue to be carried out in five years, in one or more tranches, with pre-emptive rights, Cementir said in a statement. “The purpose of this proposal is to increase the capital resources and the financial flexibility of the company as part of the implementa... |