Cement News tagged under: corporate
PT Indocement20 December 2013, Published under Cement NewsPT Indocement has set a growth target of six per cent for 2014 and announced plans to invest IDR4trn (US$334.5m) during the course of the year to boost capacity. According to Tju Lie Sukanto, the company’s finance director, a lack of production growth in 2013 has led to a disappointing performance this year. While the country’s cement industry saw sales growth of 5.4 per cent in 9M13, PT Indocement recorded a 0.2 per cent decline in domestic sales with its market share shrinking from 32.3 pe... |
Anhui Conch20 December 2013, Published under Cement NewsChina’s stocks rose to their highest level since October earlier this month led by materials including cement. Anhui Conch posted a 3.4 per cent rise to CNY18.47 in the first week of December as cement prices in many parts of China continued to climb. China’s cement prices rose 0.8 per cent week-on-week at the end of November, followed by a 0.5 per cent rise in the opening week of this month, marking the eight consecutive week of increase. In Zhejiang, Anhui, Jiangsu, Hubei and Guangdong pri... |
Cementos Argos20 December 2013, Published under Cement NewsCementos Argos has now finalised its acquisition of Lafarge’s 53.5 per cent stake in Honduran subsidiary Lafarge Cementos SA de CV. The deal, which is worth EUR232m (US$306m) includes a 1Mta integrated cement plant and a 0.3Mta grinding works. The transaction is based on an enterprise value of EUR435m, representing a 2012 EBITDA multiple of 8.6. This latest purchase follows Cementos Argos’ US$750m acquisition of Lafarge’s US assets in 2011, including a number of cement plants in southeast... |
PT Semen Indonesia20 December 2013, Published under Cement NewsFor the second time PT Semen Indonesia has received the Gold award from the government’s Pollution Control, Evaluation and Rating (PROPER) programme. The award was given in recognition of the company’s focus on environmental management including reducing emissions, air pollution and carbon intensity, and the use of biomass, such as rice husks and sawdust, as alternative fuel. Elsewhere, Thang Long Cement JSC, which is 70 per cent owned by PT Semen Indonesia, has exported 30,000t of bulk ... |
Dangote Cement20 December 2013, Published under Cement NewsDangote Cement has been revealed as the most capitalised stock on the Nigerian Stock Exchange (NSE) accounting for around 27 per cent of the total market. During 2013 Dangote shares have outperformed the NSE recording growth of 52 per cent, compared to the 38 per cent return posted by the NSE All-Share Index. Earlier this month, a 10 per cent rise in the share prices of Dangote Cement Plc on one day added NGN140bn (US$870m) to the market capitalisation of the exchange boosting it from NGN12.... |
UltraTech Cement20 December 2013, Published under Cement NewsUltraTech Cement, part of the Aditya Birla Group, has announced plans to set up two new cement plants in the northern Indian state of Uttarakhand. The plants will be located at Tyuni in the Dehradun district (3.5Mta) and Someshwar in the Almora district (2Mta). According to the company, the multi-phase investment will bring jobs to the area whilst also ensuring that the environment of the region is kept intact. A number of incentives have been put in place by the government to encourage inve... |
PPC20 December 2013, Published under Cement NewsPPC is further stamping its footprint on the South African market with the recent approval of its acquisition of cement producer Safika Cement. The country’s Competition Tribunal has given its unconditional go-ahead to the deal for a controlling equity stake in Safika at a cost of US$35.3m. Safika Cement owns five blending facilities and one milling operation producing blended 32.5N cement. “Our successful conclusion of another value-adding transaction for shareholders will ensure that ou... |
USA: Saint-Gobain sells Its fibre cement business20 December 2013, Published under Cement NewsSaint-Gobain has signed an agreement for the sale of its US-based Fibre Cement business to Plycem USA, a subsidiary of Elementia of Mexico in which Lafarge holds 47 per cent of shares in its 2Mta Cementos Fortaleza plant. This business is part of Saint-Gobain's Exterior Products activity of the construction products segment. It manufactures and sells fibre cement siding, trim and accessory products for the US and Canadian residential and commercial construction markets. The business employs... |
Cementir sets out 2014-16 business targets18 December 2013, Published under Cement NewsCementir's Board of Directors has approved the company's 2014-16 Business Plan which sees average annual EBITDA growth of around 16 per cent over the period. The plan lays the foundations for a further period growth following positive trends seen during 2013, the company said in a statement released yesterday. The strategy focuses on four key priorities: Improving the profitability of the current business Consolidating the group’s leadership in the white cement market Complet... |
CCI clears JSW Steel acquisition of Heidelberg plant17 December 2013, Published under Cement NewsThe Competition Commission of India (CCI) has approved the acquisition of HeidelbergCement India's grinding facility at Raigad, Maharashtra, by JSW Steel. JSW Steel announced back in October its intention of acquiring the 0.6Mta grinding works. "Considering the facts on record and the details provided in the notice (under relevant Section of the Competition Act) ...the Commission is of the opinion that the proposed combination is not likely to have appreciable adverse effect on competi... |