Cement News tagged under: corporate
Texas Industries working with Citigroup for possible sale, USA16 December 2013, Published under Cement NewsThe owners of Texas Industries are reported to be exploring a sale of the Dallas-based company, Bloomberg reported, citing three people with knowledge of the matter. Southeastern Asset Management Inc. and NNS Holding, the two largest shareholders, have been looking to sell their stakes for some time, though they may struggle to get a price they deem sufficient, one source said. Vulcan Materials and Holcim are among the companies being viewed as potential suitors, the news agency quoted one... |
HeidelbergCement India likely to raise more funds13 December 2013, Published under Cement NewsHeidelbergCement India’s board will meet to consider raising INR3.7bn (US$59.5m) by issuing non-convertible debentures (NCDs) on private placement basis. “... a meeting of the board of directors of the Company will be held on 16 December 2013, inter alia, to consider issuance and allotment of the debentures aggregating to INR3.7bn,” the company said. It was planning to issue Indian rupee-denominated, rated, listed, unsecured, redeemable NCDs aggregating to INR3.7bn on private placement bas... |
India: Dalmia Cement plunders executives from Shree13 December 2013, Published under Cement NewsMahendra Singhi has joined the Dalmia group has its new managing director from rival Shree Cement where he had spent 19 years, with his last position being executive director. His aim will be to consolidate cement operations and build efficiencies while working with private equity investor KKR. The US-based fund KKR, which invested US$125m in the cement company in 2010, helped Dalmia implement best practices and integrate acquisitions. KKR has already standardised management practices ... |
Nigeria: Dangote investment drive not only in cement13 December 2013, Published under Cement NewsDangote Group, plans to invest about US$16bn in cement, petrochemicals and agriculture over the next four years. "We are investing US$4.7bn to finish our projects in cement in about 18 countries, including Nigeria," Aliko Dangote told Bloomberg. "We are also spending about US$2.3bn on agriculture, which is sugar and rice." The investment will help the Lagos-based company grow by almost a third in 2014, according to Mr Dangote. "We are very, very optimistic for 2014 - we are expecting avera... |
Citigroup raises HeidelbergCement price target11 December 2013, Published under Cement NewsAnalysts at Citigroup have raised the price target for HeidelbergCement and given the German cement major a "buy" rating. The price target was set at EUR61-62. At a current price of the HeidelbergCement stock of EUR54.20 this means an upside potential of 14.39 per cent. The outlook for building materials manufacturers in Europe is improving, according to analyst Aynsley Lammin in a sector report. |
Titan long-term ratings lifted10 December 2013, Published under Cement NewsThe long-term ratings on Greece-based cement producer Titan Cement have been lifted by ratings agency Standard & Poor's (S&P) to 'BB' from 'BB-'. At the same time, it affirmed the 'B' short-term rating on Titan Cement. S&P has removed all the abovementioned ratings from CreditWatch, where Titan was placed with positive implications on 26 November, 2013. The outlook is stable. Titan Cement's stand-alone credit profile is 'bb', based upon S&P’s assessment of the group's business risk ... |
Indocement eyes 6% sales growth in 201410 December 2013, Published under Cement NewsIndocement has set a growth target of six per cent next year on the back of new capacity additions and rising domestic demand. In the first nine months of the year, the company increased total cement and clinker volume by just 0.6 per cent per cent. The Citeureup works is adding 1.9Mta of grinding capacity later this year which will boost total capacity to 20.6Mta. It is further adding 4.4Mta of integrated capacity in 2015 in a brownfield project which started construction in October. Two ... |
Habesha signs loan agreements to finance new plant construction, Ethiopia10 December 2013, Published under Cement NewsHabesha Cement has signed loan facilitation agreements for the construction of a new 1.4Mta greenfield cement plant in Ethiopia. The Development Bank of Ethiopia (DBE) has signed a ETB630m loan agreement with the company at its headquarters on 19 November 2013, according to reports by the Addis Fortune. The loan is to be paid back over a period of 7-9 years. Loan agreements were also signed between Habesha, the DBE and the PTA Bank - the financial arm of the Common Market for Eastern... |
KHD recommends shareholders accept AVIC offer06 December 2013, Published under Cement NewsThe management and supervisory board of KHD Humboldt Wedag International have recommended company shareholders accept a takeover bid from AVIC International at the offer price of EUR6.45/share. The offer price corresponds to a premium of 34.9 per cent on the average closing price of the KHD share over the three-month period prior to announcement of the offer on October 10, 2013. KMPG, who was engaged by KHD’s management board, as well as Network Corporate Finance, a consulting company com... |
Industry appointments at Ambuja and ACC06 December 2013, Published under Cement NewsThe Holcim Group has appointed Bernard Trever has an additional director on the board of Ambuja Cements Ltd. Mr Trever has over 35 years of experience in the cement business and has been part of Holcim Ltd since 1994 where he has held senior positions including that of Chief Executive Officer of Holcim Colombia and Holcim US. Meanwhile, ACC's chief executive and managing director Kuldip Kaura has received a one-year extension in his current position till December, 2014. "We wish to inform ... |