Cement News tagged under: corporate
Saudi on course for full demand recovery in 4Q1423 June 2014, Published under Cement NewsSaudi cement sector is currently showing signs of recovery, with demand beginning to return to its normal levels, a new report by NCB Capital reveals. Mohamed Tomalieh, equity research analyst at NCB Capital, said: “The average YoY decline in sales since November 2013 stood at 7.9 per cent but sales in May 2014 increased 3.1 per cent YoY, the first increase since the end of the amnesty period for expats in November 2013. The recent growth supports our view of demand normalising in 3Q14, wi... |
Italcementi Finance signs credit facility, Italy23 June 2014, Published under Cement NewsItalcementi Finance SA, a subsidiary of Italian cement maker Italcementi, has signed with a group of 14 international banks a syndicated revolving credit line for EUR450m with a five-year maturity, replacing a EUR920m credit line maturing in September 2015. The previous loan has not been used, hence there are no impacts on the group's total debt, a statement read. The new credit line envisages financial covenants for Italcementi Finance and Italcementi that are similar to the ones of the p... |
Acquisition of Corporate Scientific Claisse Inc23 June 2014, Published under Cement NewsSpectris has acquired the business and assets of the Canadian company La Corporation Scientifique Claisse Inc for an undisclosed sum. Claisse designs, manufactures and sells consumables and instruments used to prepare consistent and comparable samples for spectroscopic analysis in mining, pharmaceutical, academic research and industrial applications. Claisse will become part of the Materials Analysis segment and will be integrated into PANalytical, combining two leaders in fusion and... |
JP Morgan Chase & Co acquires shares in Anhui Conch Cement20 June 2014, Published under Cement NewsJP Morgan Chase & Co bought 257,000 shares in Anhui Conch Cement Co Ltd worth HK$ 7.03m on 13 June 2014, sources reported, citing the Hong Kong Stock Exchange. After the purchase, the USA financial institution holds a combined 143.16m shares in the cement manufacturer, accounting for an 11.01 per cent stake. |
Ciments Français: Paris stock exchange delisting16 June 2014, Published under Cement NewsThe offer of voluntary actions to buy Ciments Français shares at the price of EUR79.50 promoted by Italcementi, was approved by the AMF on 10 June and will run from 13 June until 3 July 2014. The offer, as previously announced, is aimed at delisting of the shares of Ciments Français from the Paris Stock Exchange. Therefore, if the tender offer results in Italcementi holding a stake of more than 95 per cent of the share capital and voting rights of Ciments Français, this will initiate a 'squ... |
India: UltraTech completes deal to buy Jaypee Cement13 June 2014, Published under Cement NewsJaypee Cement Corporation unit in Gujarat, India, will come into UltraTech Cement's possession following approval for the acquisition from the Bombay and Ahmedabad High Courts. The deal includes the 4.8Mta cement plant with a 57.5MW coal-based thermal power plant, limestone reserves for over 90 years and a captive jetty at Sewagram for an enterprise value of INR38000m (US$637.8m). The company has already received the approval of capital market regulator SEBI, shareholders and creditors. As... |
New ACC chief executive officer appointed12 June 2014, Published under Cement NewsACC Ltd, part of the Holcim group, said on Wednesday that it had appointed Harish Badami as the chief executive officer (CEO) and managing director (MD) of the company. In a statement filed to the exchanges, the company said Mr Badami will take over from Kuldip Kaura, the incumbent CEO and MD, as of 13 August 2014 for a period of five years. ACC is India's second-largest cement producer. |
Semen Indonesia provides loan to Gresik, Indonesia12 June 2014, Published under Cement NewsSemen Indonesia is to provide a IDR5trn loan (US$421.76m) to subsidiary Semen Gresik to partly finance the latter’s new cement plant in Central Java, according to an announcement posted on the Indonesia Stock Exchange. The loan agreement, which amounts to IDR5.07trn when taking interest into account, was signed on Monday. Semen Gresik is constructing an 8000tpd greenfield works situated just outside the city of Rembang in the northeastern part of central Java. The new factory is expecte... |
UltraTech in talks to buy further Jaiprakash assets11 June 2014, Published under Cement NewsUltraTech Cement is reportedly in talks to buy further cement assets from Jaiprakash Associates, two sources with knowledge of the matter have told local press. The talks are centred on UltraTech acquiring Jaiprakash’s Rewa complex in Madhya Pradesh, to help the latter company reduce its debt burden. Last year, UltraTech agreed to buy Jaiprakash’s cement assets in Gujarat which have a cement capacity of 4.8Mt. |
Italcementi prices EUR500m capital increase at EUR4.825/share06 June 2014, Published under Cement NewsItalian cement major Italcementi said its EUR500m capital increase will be priced at EUR4.825/share. The rights issue, part of a plan to strengthen and streamline the group's capital and structure announced on 6 March, is aimed at funding the tender offer on Ciment Francais expected to be launched by the end of the month at a price of EUR79.5/share. The capital increase, due to start on 9 June, will offer in option to shareholders three new shares for every seven shares owned at a price of... |