Cement News tagged under: corporate
Fitch affirms Holcim (Costa Rica) rating06 December 2013, Published under Cement NewsFitch Ratings has affirmed it AAA(cri) rating with a stable outlook for Holcim (Costa Rica) and its subsidiaries, according to a report from the ratings agency. The rating is attributed to Holcim 's strong market position in Costa Rica where it operates a 1.5Mta integrated cement plant, and strong generation of cash flow. Cemex is the only other cement producer in Costa Rica, with two plants and a 0.9Mta capacity. As of June 30, Holcim (Costa Rica) generated an EBITDA of CRC27.3bn (US$... |
UltraTech Cement appoints independent director05 December 2013, Published under Cement NewsIndia’s largest cement producer UltraTech Cement said its board of directors has appointed Arun Adhikari as additional director (Independent) to the board, effective 3 December 2013. Adhikari is an alumni of the Indian Institute of Technology, Kanpur and the Indian Institute of Management, Calcutta. |
Sino-Zimbabwe boosts clinker capacity05 December 2013, Published under Cement NewsSino-Zimbabwe has completed phase one of its plant modernisation programme by increasing clinker production capacity by 40 per cent. Capacity of the plant has now been increased to 700tpd. Phase two of the project, due for completion this year, involves upgrades to warehouses and storage facilities. Further modernisation measures are planned for next year. The new project will also reduce energy consumption and the carbon footprint of the plant based 40km southwest of Gweru. Sino... |
HeidelbergCement issues Eurobond04 December 2013, Published under Cement NewsHeidelbergCement yesterday priced a Eurobond issue under its EUR10bn EMTN programme with an issuance volume of EUR500m and a maturity date of 21 October 2021. The proceeds of the transaction will be used for general corporate purposes, the German cement major said in a statement. The eight year bond bears a fixed coupon of 3.25 per cent per annum. The issue price is at 99.337 per cent, resulting in a yield to maturity of 3.375 per cent. Joint lead managers of the transaction are Danske Ba... |
Prism Cement's credit metrics seen improving from FY1504 December 2013, Published under Cement NewsIndia-based cement producer Prism Cement Ltd is expected to see an improvement in credit metrics from FY15 on the back of an overall improvement in operating efficiency and an absence of any debt-led capex, according to a recent note by India Ratings. It has assigned Prism Cement Limited (PCL) a Long-Term Issuer Rating of 'IND A-'. The Outlook is Stable. The research house notes that the sharp deterioration in PCL's financial profile in FY13 was largely driven by the breakdown of a silo a... |
Sichuan Shuangma to acquire stake in Dujiangyan Lafarge03 December 2013, Published under Cement NewsSichuan Shuangma Cement Co says it plans to acquire a 25 per cent stake in Dujiangyan Lafarge Cement from Lafarge China Offshore Holding Company for about CNY832m (US$136.5m). Sichuan Shuangma has said the acquisition will be via shares issuance of about 147.58m shares at CNY5.64/share. |
HeidelbergCement plans India bond placement03 December 2013, Published under Cement NewsHeidelbergCement India plans to raise INR3.7bn (US$59.4m) by issuing non-convertible debentures on private placement basis. "... subject to receipt of various approvals, planning to offer and issue Indian rupee denominated, rated, listed, unsecured, redeemable, non-convertible debentures aggregating to INR3700m, on private placement basis, to its non-resident parent/ group company (ies), which qualify as Qualified Foreign Investors (QFIs)...," the company said in a BSE filing. He... |
Cimpor02 December 2013, Published under Cement NewsCimpor's nine-month turnover emerged 23.4 per cent higher as the additional assets in Argentina, Brazil and elsewhere more than made up for the assets sold, predominantly in the Mediterranean rim. The EUR1984.3m turnover was 69.5 per cent higher than the EUR1170.6m shown for the first nine months of last year. The EBITDA improved by 14.2 per cent to EUR481.5m on a comparable basis and 35.5 per cent higher than the EUR355.4m shown a year ago. There has been no income from the sale of emission... |
Votorantim02 December 2013, Published under Cement NewsTo deal with the strength of domestic cement demand, Votorantim has been importing sizeable amounts of clinker, with its Galician subsidiary Cementos Cosmos providing 265,000t in the current year from its Toral de los Vados works. The last ship left at the end of November with 44,500t of clinker on board. |
CRH02 December 2013, Published under Cement NewsIn its autumn trading statement, CRH announced that it expects the EBITDA to be broadly in line with last year's number, assuming normal weather patterns for the remainder of the year. Depreciation and amortisation charges as well as the net interest charge are forecast to be a little lower than in 2012, though the net debt is expected to be about EUR300m higher. Acquisitions and large capital investments amounted to around EUR660m, of which EUR492m were in heavy building materials, and incl... |