Cement News tagged under: corporate
Chettinad purchases shares in Anjani Portland21 May 2014, Published under Cement NewsChettinad Cement Corporation Ltd has purchased approximately 20.58% of shares of Anjani Portland Cement Ltd from shareholders. Chettinad Cement has reportedly acquired 3784.014 shares through off market purchase for a price of INR61.75/share (US$1.05). Chettinad Cement, based in Chennai, India, announced its plans to acquire Anjani Portland Cement, based in Andhra Pradesh (AP), in March 2014. The purchase forms part of the company’s strategy to increase its presence in the AP market, situ... |
PPC: first-half cement sales edge higher20 May 2014, Published under Cement NewsPPC announced its group cement sales were two per cent higher for the first half of the year to the end of March 2014. Improvements in export sales and the consolidation of sales from its Rwanda operation and newly-acquired Safika Cement business were partly offset by declining sales volumes in South Africa and Botswana. Group revenue increased by nine per cent to ZAR4157m (2013: ZAR3812m) helped also by improving cement pricing and the favourable impact of the devaluation of the rand aga... |
Italcementi sets Ciments Francais bid price20 May 2014, Published under Cement NewsItalcementi said on Tuesday it had fixed the price in a takeover bid for the shares in its French unit Ciments Francais that it does not yet own at EUR79.5/share. The takeover, part of the company's restructuring of its European business, will be financed via a rights issue for up to EUR500m. |
Lafarge denies claims of market dominance, Kenya20 May 2014, Published under Cement NewsLafarge has denied claims by Kenya’s antitrust authority that the cement producer may be flouting domestic competition rules and said it wants to work with the government to boost returns in the nation’s cement industry, reports Bloomberg. The Competition Authority of Kenya is probing the company’s influence on prices through its 59 per cent stake in Bamburi Cement Co and 42 per cent interest in East Africa Portland Cement Co (EAPCC), the nation’s largest and third-biggest cement producers... |
Goltas Goller Bolgesi Cimento inks loan for investment finance19 May 2014, Published under Cement NewsTurkish cement maker Goltas Goller Bolgesi Cimento Sanayi ve Ticaret said Friday it will sign a US$42m loan agreement with local lender Yapi Kredi to finance its investments. The company will mortgage a US$54.6m property located in the southwestern Turkish province of Isparta as collateral for the loan, it said in a bourse filing. |
Cemex announces new chairman of the board and new CEO16 May 2014, Published under Cement NewsCemex announced today that its board of directors has unanimously appointed Rogelio Zambrano as chairman of the board of directors and Fernando A Gonzalez as CEO, effective immediately. The move follows the sudden death on Monday of Lorenzo Zambrano who had led the Monterrey, Mexico-based Cemex for almost three decades. Mr Rogelio Zambrano previously served as a member of the Board of Directors, and Fernando A Gonzalez previously held the position of Executive Vice President of Finance... |
Titan recovers in southern Europe and Florida16 May 2014, Published under Cement NewsTitan's first quarter turnover improved seven per cent to EUR251.8m, under the new accounting rules that ignore the turnover of joint ventures, and the EBITDA staged a 30.9 per cent recovery to EUR30.5m. The pre-tax loss was reduced by 58.7 per cent to EUR9.7m while the net attributable loss declined by 59.4 per cent to EUR11m. Net debt at the end of March, however, was down by 9.2 per cent to EUR541m, giving a gearing level of 38.5 per cent, compared with 41.6 per cent a year... |
Kenya: Lafarge under competition probe16 May 2014, Published under Cement NewsKenya’s antitrust authority may force Lafarge SA to sell some of its domestic interests if the cement maker is found to be flouting domestic competition rules, according to Bloomberg reports. The Competition Authority of Kenya is probing Lafarge’s influence on Kenya’s cement industry through its 59 per cent stake in Bamburi Cement Co and 42 per cent shareholding in East Africa Portland Cement Co (EAPCC). The findings will be published next month, Director-General Francis Kariuki said in an ... |
EAPCC issues profit warning16 May 2014, Published under Cement NewsEast African Portland Cement Co Ltd (EAPCC) expects profit for its full year through June to fall by more than 25 per cent, it said on Friday. The company blamed rising competition in the sector and high staff costs for the forecast. "These challenges have had an adverse effect on sales revenues whilst staff and other unavoidable costs were incurred," EAPCC said in a statement. |
Eagle boosted by cement and plasterboard, USA15 May 2014, Published under Cement NewsIncluding its share of the jointly-owned Texas Lehigh Cement, the turnover of Eagle Materials for the financial year to the end of March advanced by 36.7 per cent to US$1009.8m. Of this total turnover, cement represented 42.5 per cent, plasterboard accounted for 38.3 per cent, aggregates and concrete for 11.4 per cent and plasterboard liner for 7.7 per cent. The trading profit rose by 64.5 per cent to US$223.27m, helped by strong advances in both cement and plasterboard as additional volu... |