Cement News tagged under: corporate
Argos acquires French Guiana assets10 April 2014, Published under Cement NewsColombia's largest cement maker, Argos, said on Wednesday it will pay EUR50m to acquire Ciments Guyanias, owned equally by Lafarge and Holcim, just two days after the European majors announced a merger. The purchase includes a 200,000tpa clinker grinding plant and a port, both located in Degrad des Cannes, close to the capital Cayenne. Argos said the move forms part of the company’s objective to consolidate it operational and logistical cement network. The deal is also in keeping with Arg... |
Brazil: Votorantim Cimentos plans bond buyback10 April 2014, Published under Cement NewsVotorantim Cimentos yesterday unveiled plans to buy back up to US$1.03bn in overseas bonds due 2017, according to a banker close to the transaction. The bonds carried an annual coupon of 5.25 per cent and a yield of 5.32 per cent. The offer will expire 16 April. At the same time, Votorantim Cimentos hired a group of banks to coordinate a road show to promote a new debt sale, another person close to the talks said, making it the latest firm seeking to cash in on renewed appetite for emerg... |
Fitch Ratings considers Lafarge upgrade10 April 2014, Published under Cement NewsFitch Ratings announced yesterday it considers upgrading the credit rating of French concrete and cement group Lafarge after the company unveiled its merger with Swiss peer Holcim. The ratings agency said it is motivated to give an upgrade as the agency takes into account the synergies potential between the two groups and the business prospects of the new entity. (Abstracted from an original article in Le Figaro.) |
Oyak eyes Europe, Africa acquisitions10 April 2014, Published under Cement NewsTurkey-based Oyak is looking into acquisitions in the cement sector, with a specific focus on Europe, Africa and Great Britain, its cement group chairman Celalettin Caglar said on Thursday. Speaking to Reuters, Caglar said that the group is also interested in acquisition opportunities that could arise through the Lafarge and Holcim merger as the groups look to divest in assets to appease potential concerns by antitrust regulators. The company’s said on Monday that two-thirds of divestments ... |
Qassim Cement 1Q14 net profit declines09 April 2014, Published under Cement NewsQassim Cement Company reported net profits amounting to SAR159m (US$42.4m) in the first quarter of 2014, down 5.59 per cent for the same period of the last year. In a statement issued today, the Saudi-based company said that dividends per share amounted to SAR1.77 compared to SAR1.87 for the same period of the last year. |
Deutsche Bank upgrades Holcim to buy09 April 2014, Published under Cement NewsDeutsche Bank upgrades Holcim to buy from hold and lifts its target price to CHF90 (EUR74) from CHF70 (EUR57) as the upside potential in the building sector should boost cement demand. This "when combined with a transformational deal with Lafarge, which brings global leadership status and hopes for greater market discipline, should make the combined entity a key holding for long term shareholders seeking to increase the beta in their portfolio," say Deutsche Bank analysts. |
Umm Al Qura set to raise US$73m via float09 April 2014, Published under Cement NewsUmm Al Qura Cement is to raise over SAR275m (US$73m) in cash by selling 27.5m shares at SAR10 each via a flotation on Saudi Arabia's stockmarket, Tadawul. The shares are expected to be floated by the new Riyadh-based cement supplier at the end of April, and a prospectus will be published in advance. Saudi Arabia's Minister of Commerce and Industry Dr Tawfiq bin Fawzzah Al-Rabiah said that half of the shares will be sold to the general public, with the rest retained by the project's partn... |
West China Cement repurchases 2m shares09 April 2014, Published under Cement NewsWest China Cement Ltd bought back 2m shares for HK$1.9m on 8 April 2014, media reported, citing Hong Kong Stock Exchange documents. Between 1 January and 8 April, the Xi'an City-based cement manufacturer repurchased a total of 2m shares, occupying an 0.04 per cent stake. |
Moody's places Lafarge's ratings on review for upgrade, changes outlook on Holcim Baa2 rating08 April 2014, Published under Cement NewsMoody's has put Lafarge's Ba1 rating on review for a possible upgrade following the announced merger proposal with Swiss peer Holcim. At the same time, the credit rating's agency has changed its view on Holcim's Baa2 rating to negative from stable. The ratings actions reflect the fact that Holcim has a stronger balance sheet and credit rating than Lafarge. "The merger of Holcim and Lafarge will create the largest and geographically most diversified cement producer worldwide," said Moody's ... |
Holcim Indonesia to integrate two subsidiaries08 April 2014, Published under Cement NewsHolcim Indonesia plans to integrate two subsidiaries as part of efforts to improve operational efficiency, the company said in a statement on Friday. The Indonesian division of the cement Swiss major plans to merge units Bintang Polindo Perkasa and Wahana Transtama. Holcim now controls 100 per cent of Bintang Polindo after it acquired the ownership from Cemex Asia in 2008. Bintan Polindo owns cement milling facilities with a capacity of 600,000t in Ciwadan, Banten. Meanwhile, Wahana Transta... |