Cement News tagged under: corporate
Baturaja to part-finance new plant with bank loan24 November 2014, Published under Cement NewsIndonesia’s state-controlled cement producer PT Semen Baturaja plans to get IDR700-800bn (US$57.7-65.9m) in bank loans to finance its new IDR2.9tn plant in South Sumatra. The company intends to start construction of the 1.85Mta plant early next year with commissioning scheduled for 2018. In 9M14, Semen Baturaja posted sales of 853,089t and the company forecasts volumes of 1.31Mt for the year, up four per cent YoY. |
PPC full-year cement sales rise 2%20 November 2014, Published under Cement NewsSouth Africa's largest cement producer, PPC, reported a two per cent rise in cement sales for the full year to the end of September 2014, as growth in some of its sub-Saharan markets was offset by challenging operating conditions at home. Group revenue increased by nine per cent to ZAR9.04bn (US$818m), mainly attributable to the consolidation of Safika Cement and Pronto Readymix as well as the full-year impact of Cimerwa. On a like-for-like basis, revenue would have been three per c... |
Holcim expects to select buyers for assets by end-Jan19 November 2014, Published under Cement NewsHolcim said it expects to have found buyers for the cement plants and other operations linked to its tie-up with Lafarge by the end of January, and that the merger is on course to be completed by the middle of next year as planned. "We expect the final bids somewhere in January 2015," Bernard Fontana, chief executive of Holcim said at the company's investor day on Tuesday, adding that Holcim also hoped to select buyers for the assets the same month. "All this is consistent with an over... |
Lafarge Malaysia's 3Q14 pretax down 54.2%19 November 2014, Published under Cement NewsLafarge Malaysia reported a 54.2 per cent drop in third-quarter pretax profit on lower revenue and higher operating cost arising from the increase in electricity and fuel prices. Pretax profit for the three months to the end of September 2014 plunged to MYR73.9m (US$21.98m) from MYR161.41m a year earlier, the country's largest producer said in a statement released yesterday. Revenues over the three month period fell to MYR664.63m from MYR728.01m in 3Q13. The decline in sales mainly att... |
PCA appoints Toscas president and CEO19 November 2014, Published under Cement NewsThe Portland Cement Association (PCA) has named James G Toscas president and chief executive officer, effective 15 December 2014. For the past 11 years, Toscas served as president and CEO of the Precast/Prestressed Concrete Institute, and from 1998 to 2002, he was executive vice president and CEO at the American Concrete Institute (ACI). As a founder of the Concrete and Masonry-Related Associations, Toscas improved the collaboration of all industry allies and provided a forum for the establ... |
Tangshan Jidong Cement Co to issue CNY1bn bills19 November 2014, Published under Cement NewsTangshan Jidong Cement Co, Ltd has announced that it will issue CNY1bn (US$16.3m) unsecured short-term bills with a maturity of 365 days on the interbank market on 21 November 2014. The company said in a statement that the bills will be issued at the face value, and the coupon rate determined in the process of bookbuilding. Both value date and payment due date is set on 24 November and the to-be-issued bills tradable on 25 November. China Lianhe Credit Rating Co, Ltd has rated the issuer... |
Fitch assigns ‘BB+(EXP)’ to Elementia proposed notes, Outlook Stable18 November 2014, Published under Cement NewsFitch Ratings has assigned an expected rating of 'BB+(EXP)' to Elementia, SA de CV’s proposed US$400m notes with a maturity of up to 10 years. Proceeds from the notes issuance will be used for general corporate purposes, including the repayment of existing indebtedness and the purchase of joint venture minority interests. The new notes will rank pari passu with Elementias's existing unsecured debt. The Rating Outlook for Elementia is Stable, reflecting its “strong business profile char... |
Ashaka nine-month net profit up 3% YoY17 November 2014, Published under Cement NewsAshaka Cement Plc nine-month results for the period ended 30 September 2014 showed revenue growth of three per cent YoY to NGN17.3bn (US$100.9m) profit after tax rose 103 per cent YoY to NGN4.3bn. Nine months results for the period ended 30 September, 2014 showed revenue growth of three per cent YoY to NGN17.3bn profit after tax rose 103 per cent YoY to NGN4.3bn. On a quarterly basis, profit after tax was down 47 per cent QoQ to NGN847m due to a sharp fall in other income from NGN243m i... |
Titan suffers in Egypt, but improves elsewhere14 November 2014, Published under Cement NewsTitan’s turnover improved by 3.3 per cent to EUR879.7m in the first nine months of 2013, but EBITDA edged ahead by just 0.1 per cent to EUR146.7m. In the third quarter the EBITDA did decline by one per cent. The trading profit for the nine months was 0.7 per cent lower at EUR57.9m and, after a 6.9 per cent reduction in net financial charges and a positive contribution from associates of EUR3.6m, there was a pre-tax profit of EUR47.4m profit compared with a EUR1.1m loss. There was a net at... |
Oyak Group eyeing Lafarge and Holcim assets14 November 2014, Published under Cement NewsOyak Group, Turkey’s largest cement producer, has US$2bn in cash for acquisitions and may spend some of it on assets Holcim and Lafarge are looking to shed ahead of their planned merger. The head of the Ankara-based company told Bloomberg in an emailed statement that the group is interested in Holcim and Lafarge businesses in the eastern European countries of Romania, Serbia and Hugary. “We are interested in bidding as Oyak or together with a European group” for assets, Caglar said. Oyak ... |