Cement News tagged under: corporate
CRH can spend big on acquisitions08 May 2014, Published under Cement NewsCRH Chief executive Albert Manifold was questioned by the Irish Examiner about growth opportunities for the Irish building materials company following the company's AGM in Dún Laoghaire. Albert Manifold said that management would continue to search for opportunities in its core markets of mainland Europe, the Americas and Asia and would have approximately EUR1.5bn available to spend over the next year and a half to spend on acquisitions and investments in the next year. Since the beginning... |
HeidelbergCement 1Q14 sales rise by 10%07 May 2014, Published under Cement News“HeidelbergCement showed strong operational development in the first quarter of 2014, continuing the positive trend of the previous year,” said Dr Bernd Scheifele, Chairman of the Managing Board. “Europe contributed significantly to the improvement of results due to the mild winter and the positive economic development in our markets. In addition, we were able to implement price increases in some important markets of our Group. Our measures to increase the margins continue to be effective.” ... |
Egypt: Arabian Cement to raise US$100m through IPO07 May 2014, Published under Cement NewsArabian Cement aims to raise US$100m by listing on the Egyptian stock market, according to an official from top MENA investment bank EFG Hermes. The cement company has previously stated that it has set an indicative share price between EGP8.45 (US$1.20) and EGP9.55 (US$1.36). Trading is expected to begin on 21 May. Karim Awad, chief executive officer at EFG Hermes, said he was optimistic about the prospects for the listing of other state-owned enterprises on the Egyptian Stock Exchange. "... |
CRH Interim statement 1Q1407 May 2014, Published under Cement NewsAccording to the CRH 1Q14 interim statement, the company reports that in Europe, the improving trend evident in the second half of 2013 has continued in the first four months of 2014, and the economic backdrop continues to stabilise. This, combined with the absence of the prolonged winter conditions which impacted last year's early season trading, benefited construction activity in most of CRH's markets and cumulative like-for-like European sales to end-April were 10 per cent (approximately ... |
Capital Group buys a 9.25% stake in Anhui Conch07 May 2014, Published under Cement NewsThe Capital Group Co spent HKD159.21m (US$20.53m) to acquire 5.55m shares in Anhui Conch Cement Co Ltd on 30 April, sources reported, citing the Hong Kong Stock Exchange. After the purchase, the USA investor holds a combined 120.20m shares (a 9.25 per cent stake) in the Anhui province-based Chinese cement producer. |
Lafarge 1Q14 EBITDA up 21%06 May 2014, Published under Cement NewsLafarge announced that its 1Q14 sales were down two per cent to EUR2633m (up nine per cent like-for-like YoY). EBITDA was stable at EUR343m and current operating income was up 14 per cent to EUR146m. Bruno Lafont, Lafarge chairman and CEO, said: "Our first-quarter results confirmed the positive trends experienced at the end of last year. Our volumes were supported by continuing growth in emerging markets and the progressive improvement in several European markets. North America was affect... |
Invecem awarded limestone and clay concession06 May 2014, Published under Cement NewsIndustria Venezolana de Cemento (Invecem) has been granted a licence for limestone and clay exploitation by the state government of Falcón. The 20-year licence will enable the Venezuelan cement producer to increase production by 23 per cent. "The signing of this concession is very important as it will allow us to develop our products in line with the first phase of the expansion project we have started in January and will culminate in April," said José Camejo, director of Invecem’s Cumare... |
UltraTech Cement could buy Holcim-Lafarge assets06 May 2014, Published under Cement NewsUltraTech Cement Ltd, India’s biggest cement maker, is considering buying the local assets of Holcim Ltd and Lafarge SA, according to a person with direct knowledge of the matter. “The ready availability of assets may help the Indian firm gain market share without having to build greenfield factories,” said Rashesh Shah, an analyst at ICICI Securities Ltd in Mumbai. Birla’s plan also underscores optimism among investors that a stable government following this month's elections will spur a ... |
Myanmar Jidong Cement Co to build 5000tpd plant05 May 2014, Published under Cement NewsMyanmar Jidong Cement Company, a subsidiary of China's Tangshan Jidong, has countered claims that local communities in Hpa-an, Karen state, Myanmar, are opposed to the construction of the company's 5000tpd plant in the area. "We have the backing of the locals," he told the Democratic Voice of Burma news service. "Now, we are applying to the Karen State government. After it agrees, we will send an application to the MIC, and start construction of the factory after we receive permission." ... |
Pakistan: Kohat Cement Co interested in 76% Lafarge Pakistan stake05 May 2014, Published under Cement NewsPakistan's Kohat Cement Company announced that it will participate in the bidding process for the acquisition of 1.1bn ordinary shares of PKR10 each of Lafarge Pakistan, representing 75.86 per cent of the total issued and paid-up share capital of Lafarge Pakistan, according to local news service The News. Vision Holdings Middle East, which holds a 47 per cent stake in Pioneer Cement, and DG Khan Cement have also expressed interest in acquiring the stake from Lafarge subsidiary Sofima SA. ... |