Cement News tagged under: corporate
Yamama Cement sees June deliveries decline11 July 2014, Published under Cement NewsYamama Cement's June domestic deliveries reached 484,000t, a 5.5 per cent decline MoM and a 17.7 per cent YoY fall, according to NBK Capital. However, this figure was in line with NBK Capital's 1.5Mt estimate of the 2Q14 sales volume. Yamama Cement’s primary area of activity in Riyadh is still experiencing a slowdown in construction activity, on the back of the labour correction campaigns that were introduced by the Saudi government. The research house expects to start seeing improvement ... |
Kazakhstan: Steppe Cement improves 1H14 sales11 July 2014, Published under Cement NewsKazakh cement producer Steppe Cement Ltd reported cement sales of 709,459t for KZT9125m (US$49.7m) in 1H14 which compares with 564,440t of cement for KZT8165m in the 1H13. This represents a YoY increase of 26 per cent in volume terms and 12 per cent in value terms. The rise signals a shift from the company's 2013 strategy of pursuing higher selling prices to this year's plans to strive for higher sales volumes. Average price for the current period for delivered cement was KZT12,862/t (e... |
Mexico: Cementos Fortaleza inaugurates new plant10 July 2014, Published under Cement NewsCementos Fortaleza’s new 1Mta greenfield plant in Santiago de Anaya, Hidalgo, Mexico, has been inaugurated. The official launch took place in the presence of Elementia president, Francisco Del Valle Perochena, along with Mexico’s Minister of the Economy, Ildefonso Guajardo Villarreal, and Hidalgo’s state governor, Franciso Olvera. “After 70 years a new cement company is born in the country; we are very proud and committed to participate in this industry,“ said Mr Del Valle Perochena. Ou... |
Italcementi raises EUR500m capital09 July 2014, Published under Cement NewsItalian cement maker Italcementi fully completed a capital increase worth EUR500m on Monday. Investors subscribed to 103.6m new shares within an issue approved by the board of directors on 6 March. During the offer period, investors exercised rights for the subscription of 99.42 per cent of the new shares for EUR497m. Under a subscription agreement, Italmobiliare spent EUR225.1m on the transaction. |
Holcim and Lafarge announce proposed asset disposals07 July 2014, Published under Cement NewsTwo months after the announcement of their planned merger, Lafarge and Holcim have revealed the list of proposed divestments. In Europe the merged entity aims to have “a significant and balanced industrial base in Europe – around 20 per cent of its revenues – within its overall global footprint, enabling it to take advantage of the European economic recovery,” according to a joint statement. LafargeHolcim plans to sell Lafarge’s Mannersdorf works in Austria as well as the Lafarge Tarmac a... |
Philippines: Lafarge and Holcim start talks07 July 2014, Published under Cement NewsLafarge Republic Inc (LRI) and Holcim Philippines Inc have begun plans for a local merger. Both Boards of Directors gave the green light "to explore, study and consider the combination" of their businesses "in order to avail... of the resulting synergies and opportunities... and in the course of such study, determine optimal structures to implement the combination". Discussions opened in a special meetings on 6 July. Both companies said "it is contemplated LRI's two plants in Norzagaray, B... |
Italcementi reaches threshold for squeeze-out of Ciments Français04 July 2014, Published under Cement NewsItalcementi said on Thursday it had bought more than 95 percent of share capital of Ciments Français, reaching the threshold for the squeeze-out of minorities at its French unit. Italcementi’s buyout bid for Ciments Français, which commenced on 13 June, is worth EUR79.50 (USS108.60) a share, ex dividend. The buy-out of minorities in Ciments Fran ç ais is part of the Italian cement major's plan to streamline its group structure and will lead to the delisting of the French unit from the P... |
Credit Suisse sells holdings in Anhui Conch Cement04 July 2014, Published under Cement NewsCredit Suisse Group AG sold 805,174 shares in Anhui Conch Cement Co Ltd worth HK$ 21.95m (US$2.8m) on 23 June 2014, sources reported, citing information from the Hong Kong Stock Exchange. After the sale, the Switzerland financial institution still holds 103.10m shares in the Anhui Province-based cement producer, accounting for a 7.93 per cent stake. Earlier this week, Anhui Conch issued a positive profit alert saying it expects first-half net profit up about 90 per cent YoY compared to CN... |
Martin Marietta completes TXI acquisition03 July 2014, Published under Cement NewsMartin Marietta Inc said it has completed its acquisition of Texas Industries Inc (TXI). As a result, the common stock of TXI is no longer listed for trading on the New York Stock Exchange. In a statement, Ward Nye, Martin Marietta's CEO, said the merger gives his company an "expanded platform for growth," particularly in Texas and California. "I look forward to continuing to work closely with our team and all of our employees, including our new team members from TXI, to ensure a seamle... |
Anhui Conch issues positive profit alert, China03 July 2014, Published under Cement NewsYesterday, Anhui Conch said it expects first-half net profit up about 90 per cent YoY compared to CNY3.06bn (US$492.75m) a year earlier. The advance is being attributed to increased product sales and prices. Dow Jones cited a report by Barclays which says higher sales and lower coal prices are responsible. "We expect the share price to react positively" Thursday but the stock may "then fall back on ongoing seasonal weakness in cement prices," Barclays says. This may persist throughout the... |