Cement News tagged under: corporate
BBMG Corp issues profit warning, China14 January 2015, Published under Cement NewsChinese cement producer and property developer BBMG Corp said its 2014 net profit is expected to fall by up to 25 per cent from the year earlier, on weaker sales in the property market. The company did not give exact figures for its profit warnings, but said it posted a net profit of CNY3.2bn (US$523m) in 2013. |
FLSmidth sells Cembrit Holding A/S13 January 2015, Published under Cement NewsFLSmidth has signed an agreement with a company in the Solix Group AB to sell all shares in Cembrit Holding A/S, one of the leading distributors and manufacturers of fibre-cement products in Europe, for DKK1.1bn (EUR147.9m). The sale of Cembrit concludes FLSmidth's divestment of building materials companies, a process that started 10 years ago by the divestment of Aalborg Portland and Unicon. The buyer of Cembrit is a consortium of investors headed by Solix Group AB. Solix' strategy ... |
UltraTech to not bid for Lafarge/Holcim assets13 January 2015, Published under Cement NewsUltraTech has pulled out of the race to buy cement assets up for sale as Lafarge and Holcim’s proposed merger, the Indian cement major confirmed to local press. An UltraTech spokesperson told ET Now that the company has not participated in the final round of bidding. The company had reportedly previously expressed an interest in buying assets in Brazil and Philippines and had placed a bid in the first round. The due diligence process had been conducted for assets worth around US$2bn b... |
Yanbu Cement 4Q net earnings up 20.63%12 January 2015, Published under Cement NewsSaudi producer Yanbu Cement Co posted SAR193m (US$51.4m) net earnings for the fourth quarter of 2014, rising 20.63 per cent from SAR160m in 4Q13 and 18.4 per cent from SAR163m in 3Q14. However, full-year net earnings fell 2.31 per cent YoY from SAR821m to SAR802m. Earnings per share (EPS) decreased from SAR5.21 to SAR 5.09. The cement producer attributed fourth quarter profit growth to higher sales and lower sale costs on improved operating efficiency. The full-year profit decl... |
Thailand: TPI Polene bond issue12 January 2015, Published under Cement NewsThai-based cement producer TPI Polene says it will issue two tranches of THB6bn (US$182.5m) worth of debentures. Prachai Leophairatana, chief executive of TPI, said the first tranche would be a four-year debenture carrying a coupon rate of 4.85 per cent while the second tranche for five years carries a coupon rate of 5.20 per cent. Both tranches of debentures are senior unsecured debts and the debts will be ready for subscription on 19-21 January 2015. CIMB Thai Bank has been selecte... |
Conch places new order with Claudius Peters, Myanmar09 January 2015, Published under Cement NewsConch has awarded Claudius Peters an order for the supply of an ETA cooler to be installed in Myanmar. This new order takes the total number of Claudius Peters ETA coolers ordered by Conch to 22. The new order will be Conch's first ETA cooler, installed outside of China. |
Sançim Cimento acquired by Askale Çimento.09 January 2015, Published under Cement NewsTurkish cement producer Sançim Cimento (Sançim) has been acquired by Askale Çimento, according to local news reports. The acquisition follows the recently aborted acquisition of Sancim by domestic cement major Cimsa, for EUR185.14m. The new owner of Sancim is a joint-venture of Sonmez Holding (43 per cent), Aunde Teknik (38 per cent), E.N.A. Tekstil (10 per cent) and Umut Insaat (nine per cent). |
CRH announces 2014 acquisition spend of EUR0.19bn08 January 2015, Published under Cement NewsCRH announced a total 2014 acquisition and investment spend of EUR0.19bn, reflecting the completion of 21 transactions. On the divestment front, the group undertook 16 transactions and realised total disposal proceeds of EUR0.35bn. Commenting on these developments, Albert Manifold, CRH Chief Executive, said: “In August 2014 we announced a multi-year EUR1.5 billion to EUR2 billion divestment programme; the proceeds of EUR0.35bn generated in 2014 demonstrate that this programme is well underw... |
Hope celebrates second anniversary with major investment08 January 2015, Published under Cement NewsHope Construction Materials is investing GBP14m (EUR17.9m) to boost production at its Hope Works cement plant in the Derbyshire Peak District, UK. The company, which yesterday celebrated its second year of cement production, has kicked off several major capital projects which will help improve the plant’s sustainability, improve the efficiency of the operation and help to secure future supplies for construction. Hope has owned and operated the cement works since January 2013 and has made... |
Fitch Ratings revises China Shanshui Cement Outlook08 January 2015, Published under Cement NewsFitch Ratings has revised China Shanshui Cement Group Ltd's Outlook to Negative from Stable. Meanwhile, Shanshui's Long-Term Issuer Default Rating (IDR) and senior unsecured ratings have been affirmed at 'BB'. The Outlook revision reflects Shanshui's slower-than-expected deleveraging process, mainly driven by weaker cash flow generation due to the lower cement average sell price (ASP). "We expect Shanshui to be able to sustain its financial leverage, measured by FFO adjusted net leverage r... |