Cement News tagged under: corporate
Huaxin Cement subsidiary buys stake in Success Eagle Cement05 July 2013, Published under Cement NewsHuaxin Cement Ltd's wholly-owned Hong Kong subsidiary recently signed an equity transfer agreement with Starry Cosmos Group Ltd to acquire a 20 per cent stake in Success Eagle Cement (Hong Kong) Ltd for HKD75m (US$9.7m), the company announced on 3 July After the deal, Huaxin Cement's Hong Kong subsidiary will hold a 65 per cent stake in Success Eagle Cement. |
Dudman sells UK cement trading business04 July 2013, Published under Cement NewsThe privately-owned Dudman is withdrawing from cement trading and has sold its four English cement terminals, in Sussex, Suffolk, Yorkshire and Merseyside and its one terminal at Montrose in Scotland to CRH. This will take the number of Irish multinational's British marine terminals to seven, all of which will be supplied from either Ireland or from the Cementos Lemona works in Spain. Dudman is keeping its five ready-mixed concrete batching plants in Sussex and Hampshire as well as ... |
CCI approves sale of Lafarge India stake03 July 2013, Published under Cement NewsThe Competition Commission of India (CCI) has cleared the proposed 14 per cent sale of Lafarge India Pvt Ltd to Baring Private Equity Asia. "The combination is not likely to have appreciable adverse effect on competition in India and therefore, the Commission hereby approves the combination under... the (Competition) Act," CCI said in its order dated June 26. In May Baring Private Equity Asia, through its wholly-owned subsidiary Paris Cement Investment Holdings, agreed to acquire a 14.... |
Holcim to restructure Indian operations?03 July 2013, Published under Cement NewsHolcim is reportedly planning to restructure its Indian operations which could see the merger of its two local subsidiaries, ACC and Ambuja Cements. Citing various sources familiar with the situation, the Economic Times of India reported that the Swiss cement major has called on a global investment bank to evaluate various options on how the two operations could be combined. Holcim owns a 50.3 per cent stake in both ACC and Ambuja Cements, the second and third-largest cement producer in I... |
HSBC sees robust recovery in ROI at Holcim03 July 2013, Published under Cement NewsHSBC lifts Holcim to overweight from neutral, saying it sees a buying opportunity in cement stocks after a recent falling of share prices. The bank also sees a robust recovery in return on invested capital at Holcim. It reduces target to CHF77 from CHF80. |
PPC02 July 2013, Published under Cement NewsJune marks the launch of PPC’s online news service, which will provide regular updates and information to the cement industry. The new service replaces the now defunct Cement and Concrete Institute (CCI), which collapsed in April this year amidst claims that it was failing to provide the services required by the industry. PPC, Lafarge and AfriSam all withdrew their funding for the CCI although PPC is believed to have now employed three former senior staff members from the institute to run it... |
UltraTech Cement02 July 2013, Published under Cement NewsUltraTech Cement saw its shares lose seven per cent of their value in the first week of June as the seasonal monsoon rains arrived, which are due to last until September. This will do little to cheer up India’s cement producers who have already seen a flat first quarter with no growth in sales and little prospect of demand picking up. UltraTech was one of a number of producers also reporting flat EBITDA/t during 1Q13. Volumes declined by one per cent YoY, significantly below the government’s... |
Dangote Cement02 July 2013, Published under Cement NewsPublic Investment Corporation of South Africa (PIC), Africa’s largest sovereign wealth fund, has acquired a 1.5 per cent stake in Dangote Cement Plc for NGN45.75bn (US$289.3m), or NGN179 per share. This marks the largest single deal made so far on the Nigerian Stock Exchange (NSE). In the first week of June, Dangote Cement’s shares rose 2.37 per cent to a record high of NGN196.25 (US$1.24), its highest price since it was listed on the NSE in October 2010. PIC is now rumoured to be looking to... |
Semen Indonesia02 July 2013, Published under Cement NewsCement sales by PT Semen Indonesia from January to May 2013 have jumped 17 per cent to 10Mt, up from 8.51Mt in the same period last year. This comes on the back of strong domestic demand that has already grown by 12 per cent so far this year. According to the National Cement Industry Association, overall demand, which stood at 60Mt in 2012, is expected to grow by 8-10 per cent in 2013. In 2012, the company recorded a 14.7 per cent increase in sales, exceeding the country’s average increase o... |
Cementos Argos02 July 2013, Published under Cement NewsCementos Argos SA has completed the second round in the IPO of its preferred shares, allocating an additional COP209.42bn (US$111m), bringing the total transaction size to COP1.611trn. The company has recently completed a US$60m investment in the Dominican Republic where its new brand Argos Dominicana has replaced Cementos Colón, which Argos gained control of in 2009 having first entered the Dominican market in 1996. Since then, it has integrated and aligned its operations to become L... |