Cement News tagged under: corporate
Argos Board approves US$50m loan31 March 2014, Published under Cement NewsThe board of Colombia’s Argos Group has approved a US$50m loan with the Bank of Bogotá and Miami Agency. The 180-day credit was extended to cover operating cash flow needs. |
Buzzi Unicem hit by weak Italian market28 March 2014, Published under Cement NewsOn a turnover 2.1 per cent lower at EUR2753.1m, Buzzi Unicem's EBITDA improved by 5.7 per cent to EUR481.2m. After writing down the assets in Italy and Ukraine by EUR57.7m and EUR39.9m, respectively, the trading profit (EBIT) showed a 24 per cent reduction to EUR149.8m. After a net interest charge 12.4 per cent lower at EUR110.5m, the pre-tax profit declined by 35.4 per cent to EUR50.3m. Because of a mismatch between where profits and losses were generated and tax payments, at the consoli... |
China Shanshui seeks to refinance debt and trim 2014 capex28 March 2014, Published under Cement NewsChina Shanshui Cement is seeking to refinance debt and cut capital expenditure by half this year after earnings fell for a second year, according to CreditSights Inc. The cement maker, which had CNY6.9bn (US$1.1bn) of short-term debt including loans and corporate bonds at the end of last year, plans to use proceeds from a newly issued domestic medium-term note to repay CNY900m due today. Management is still considering how to refinance a CNY1.5bn bond which matures in July. Shanshui Ce... |
FCC to increase stake in Cementos Portland to 78%28 March 2014, Published under Cement NewsFCC will increase its participation in Spain-based cement producer Cementos Portland from 69.8 to 78 per cent. The transaction will be carried out by a capital increase of EUR111m through the capitalisation of a EUR100m subordinated loan granted by FCC. The capital increase will result from the issuance of 13,878,094 new ordinary Cementos Portland shares, representing EUR1.50 par value each with a premium of EUR6.50/share, for a total of EUR8. The capital increase is expected to take plac... |
Venezuela central bank to visit cement producers28 March 2014, Published under Cement NewsVenezuela’s Minister of Industries, Wilmer Barrientos, said representatives of the country’s central bank would visit cement companies to find solutions to the sector’s issues. The visits would be part of the government’s efforts to revive cement production in the country. “Those [cement companies] who need to be strengthened, we will strengthen,” he said. The central bank welcomed the measures and confirmed its technical support. While the minister did not give a figure for the governme... |
KHD Humboldt Wedag 2013 revenue increases 16.9% YoY28 March 2014, Published under Cement NewsKHD Humboldt Wedag International reported yesterday that it achieved a 16.9 per cent YoY increase in 2013 revenues. Order intakes, however, were significantly below the previous year’s level due to unfavourable market conditions. Strong competition and lower margin quality in the company's order backlog had a negative impact on results but a positive EBIT was recorded. The German cement plant services company’s order intake fell by 58 per cent to EUR172.4m due to "continued cautious inves... |
Ambuja gets nod for merger with Holcim India27 March 2014, Published under Cement NewsThe High Courts of New Delhi and Gujarat have given Ambuja Cements the green light to merge with Holcim India – paving the way for the ACC-Ambuja restructuring process announced by the parent company in July last year. In a two stage deal, Ambuja will first acquire, through a purchase, a 24 per cent stake in Holcim India for a cash consideration of INR35,000m (US$~600m), followed by a stock merger between Holcim India and Ambuja. |
Dangote Cement revenue rises 29.4%27 March 2014, Published under Cement NewsDangote Cement, Nigeria’s largest cement company saw revenues rise 29.4 per cent last year to nearly NGN386.2bn (US$2.45bn), backed by 28.2 per cent growth in domestic volumes. In Nigeria, revenue from cement operations (including haulage revenue) rose by 30.1 per cent YoY to nearly NGN371.6bn. Dangote Cement Ghana Ltd contributed revenue of NGN14.1bn in 2013, an increase of nearly 15.2 per cent on 2012. At group level, gross profits rose by 35.3 per cent to NGN243.7bn. Consolidated gr... |
CNBM27 March 2014, Published under Cement NewsCNBM will be welcoming China’s new 2014-20 Urbanisation Plan, announced last week. According to Reuters, the plan aims to boost domestic consumption by increasing the proportion of urban residents to 60 per cent by 2020. To help achieve this, the Chinese government has revealed plans to invest more than US$163bn redeveloping the country’s shantytowns. It has also promised a major expansion of its transport networks and urban infrastructure to increase migration from rural to urban areas,... |
PT Indocement27 March 2014, Published under Cement NewsIn 2013 Indocement's domestic sales volumes rose by 1.2 per cent to 18.2Mt, compared to the previous year. Net revenue grew by 8.1 per cent to IDR18,691bn (US$1.64bn), mainly as a result of increased sales prices. Operating income rose from IDR5876bn in 2012 to IDR6064.1bn in 2013 despite increasing costs, particularly raw materials, logistics and wage increases. There was, however, pressure from a weakening rupiah, which fell against the dollar by approximately 26 per cent last year. EBITDA... |