Cement News tagged under: corporate
PPC buys controlling stake in Safika Cement07 August 2013, Published under Cement NewsPPC has entered into an agreement to purchase a controlling equity stake in Safika Cement Holdings, a blended-cement producer in South Africa. The company acquired the stake for a cash consideration of approximately ZAR350m (US$35.3m). Safika owns five blending facilities and one milling operation and produces blended 32.5N cement under three brands: IDM Best Build, Castle and the Spar Build-It house brand. Commenting on its latest acquisition, PPC chief executive officer said: "We are ... |
HeidelbergCement mulls sale of non-core assets07 August 2013, Published under Cement NewsHeidelbergCement is considering the sale of non-core assets, its CEO Bernd Scheifele told local press in a recent interview. Speaking to the Boersen-Zeitung on Tuesday, Mr Scheifele said that markets such as Britain and the USA, where HeidelbergCement has non-core activities, are recovery and at the same time there is higher interest from private equity firms. The German cement major has implemented a number of measures to boost margins with price increases being a top priority. Heidelb... |
Holcim06 August 2013, Published under Cement NewsHolcim’s Swiss Siggenthal cement works has changed its principal kiln fuel from coal to lignite. The lignite will be imported by rail. Meanwhile, at the other end of the world, the company will close its Westport cement works in New Zealand and build an import terminal. The plans for a new cement works at Oamaru have been deferred. In India, in the first six months of the year, ACC's turnover declined by 3.2 per cent to INR57,063.4m (EUR699.6m/ US$930.4m) and the EBITDA fell by 26.6 p... |
Pacasmayo boosted by northern projects, Peru06 August 2013, Published under Cement NewsCementos Pacasmayo, a leading Peruvian cement company, reported a 9.1 per cent increase in cement sales volumes for the 2Q13 as it benefits from strong demand in the northern region. During the second quarter, consolidated EBITDA rose 60 per cent to PEN91.5m (US$32.8m) compared to PEN57.2m in the same period the year before. Operating profit increased 72.9 per cent in 2Q13 to PEN77.8m compared to 2Q12. However, net income fell 21.7 per cent in the second quarter to PEN 23.4m, mainly due ... |
Japanese producers see strong first quarter06 August 2013, Published under Cement NewsTwo of Japan’s leading cement producers are expected to post higher first-quarter profit supported by cement demand for earthquake rebuilding efforts. The country’s largest cement producer, Taiheiyo Cement, is seen posting roughly JPY5bn (US$50.8m) in pretax profit for the April-June quarter, compared with a year-earlier loss of JPY4.2bn, marking the company’s first pretax rise in six years. The Nikkei reports that sales likely increased by 10 per cent YoY to about JPY190bn as shipments to... |
Cemex announces pricing of US$1bn senior secured notes06 August 2013, Published under Cement NewsCemex announced today the pricing of US$1bn of senior secured notes denominated in US dollars. Cemex intends to use the approximately US$995m of net proceeds from the offering to purchase a portion of the 9.50 per cent Senior Secured Notes due 2016 issued by Cemex Finance LLC, and the remainder, if any, for general corporate purposes, including the repayment of other indebtedness. Cemex currently expects to purchase a portion of the 2016... |
JPMorgan sells stake in Anhui Conch, China06 August 2013, Published under Cement NewsJPMorgan Chase & Co sold 3.89 million H-shares (translating to a 0.3 per cent stake) in Anhui Conch Cement Co Ltd on 29 July 2013, decreasing the stake to 10.91 per cent, according to the Hong Kong Stock Exchange. JPMorgan sold the stake at HKD22.95/share and for a total of HKD89.28m (US$11.5m). . |
Lafarge05 August 2013, Published under Cement NewsLafarge's first-half turnover eased by 4.8 per cent to EUR7248m and the EBITDA declined by 14 per cent to EUR1302m, while the trading profit fell by 21.8 per cent to EUR791m. The gain from the sale of emission permits in the period was negligible compared with EUR46m a year ago. The net attributable profit amounted to EUR84m, compared with a EUR21m loss a year earlier. Net debt at the end of June was 5.3 per cent lower at EUR11,881m and the gearing level fell from the 77.4 per cent this t... |
HeidelbergCement05 August 2013, Published under Cement NewsHeidelbergCement's first-half turnover was virtually unchanged at EUR6560.4m (-0.3 per cent), while the EBITDA improved by 5.1 per cent to EUR953.1m as energy and raw material costs eased. The trading profit was up by 6.9 per cent to EUR540.4m and after a net interest charge 7.4 per cent lower at EUR259.3m and other financial items, the pre-tax profit rose by 52.1 per cent to EUR254.0m. Lower charges for tax and minorities led to a net attributable profit of EUR175m compared with a EUR27.... |
Cemex05 August 2013, Published under Cement NewsCemex' first-half turnover eased by 0.7 per cent to US$7322.1m and the EBITDA came off by 1.7 per cent to US$1251.2m, but the trading profit improved by 13.8 per cent to US$690.2m. Net interest payments were up by 5.3 per cent to US$731.3m and, with other charges, the pre-tax loss was 68.1 per cent higher at US$118.9m. The net attributable loss jumped by 96 per cent to US$432.7m. Equity shareholders' funds declined by 4.4 per cent by the end of June to US$10,761.6m and the net debt came d... |