Cement News tagged under: corporate
Indonesia's largest cement producer records 14.7% sales increase14 June 2013, Published under Cement NewsPT Semen Indonesia (Persero) recorded a 14.7 per cent increase in cement sales last year, exceeding the country's average increase of 14.5 per cent and representing a 44 per cent market share. Semen Indonesia is the country's largest cement producer with production units in Gresik, West Sumatra and South Sulawesi, Indonesian news agency ANTARA reported. Rudi Hartono, head of Semen Indonesia's marketing department, said the state company sold 22.5Mt of cement in 2012, up from 19.6Mt in ... |
India: HeidelbergCement gets shareholders nod to raise up to INR20bn13 June 2013, Published under Cement NewsHeidelbergCement said its shareholders have accorded approval for raising funds up to INR20bn (US$340m) through borrowings. The shareholders had approved the proposal at its annual general meeting that took place on 16 May, HeidelbergCement said in a BSE filing. Shareholders have delegated to Board the authority "for borrowing from time to time, as it may think fit, any sum or sums of money not exceeding INR20,000m on such security and on such terms and conditions as the Board may deem f... |
South African firm stakes NGN45.7bn on Dangote Cement11 June 2013, Published under Cement NewsPublic Investment Corporation of South Africa (PIC) Monday bought 255,607,605 shares or 1.5 per cent of Dangote Cement Plc for NGN45.75bn (US$0.29bn) from Dangote Industries. PIC is owned 100 per cent by South African government and it has funds valued at US$115bn under its management. Although no explanation was given by Dangote Cement regarding the acquisition, PIC is now holding 1.5 per cent in addition to the 5.11 per cent of the company’s shares available for trading on the Nigerian... |
USA: KapStone Paper to buy Longview Fibre for US$1.03bn11 June 2013, Published under Cement NewsKapStone Paper and Packaging Corp said on Monday it struck a deal to buy Longview Fibre Paper and Packaging Inc for US$1.03bn in cash, in a move to bulk up its production of containerboard used in making cardboard boxes. KapStone Chairman and Chief Executive, Roger W Stone, said the acquisition will immediately increase the company’s earnings and generate strong cash flow. He added that the firm has high interest in expanding its Kraft paper line, including Longview Fibre’s FibreShield, a h... |
Holcim reduces capital in Spain by 75%07 June 2013, Published under Cement NewsThe challenging state of the Spanish cement market has prompted Holcim to reduce its capital in Spain by 75 per cent or EUR568m. The capital reduction will be carried out by reducing the nominal value of shares, is the direct consequence of the losses registered by the Switzerland-based company in the past few financial years. ??At the start of the year, Holcim announced the closure of its Lorca plant as not only production levels were low, but there was also no sign of positive developme... |
Votorantim elects Akermann to Board07 June 2013, Published under Cement NewsVotorantim Cimentos elected Markus Akermann, former president of the Switzerland-based Holcim, to its board of directors. Akermann was CEO of Holcim between 2002 and 2012 after serving in a number of areas of the cement producer in Latin America. He is expected to hold the director’s mandate until 2015. |
Votorantim elects Akermann to Board07 June 2013, Published under Cement NewsVotorantim Cimentos elected Markus Akermann, former president of the Switzerland-based Holcim, to its board of directors. Akermann was CEO of Holcim between 2002 and 2012 after serving in a number of areas of the cement producer in Latin America. He is expected to hold the director’s mandate until 2015. |
JPMorgan sells 2.65m shares in Conch Cement06 June 2013, Published under Cement NewsJPMorgan Chase & Co sold 2.65 million shares in Anhui Conch Cement Co Ltd for a total of HKD70.2m (US$9m), according to the Hong Kong Stock Exchange. After the sales, JPMorgan still holds 218.54 million shares (a 16.82 per cent stake) in the Hong Kong-listed cement producer, China Business Newswire reports. The sale was completed on 29 May 2013. |
Holcim04 June 2013, Published under Cement NewsHolcim's first-quarter turnover declined by 7.2 per cent to CHF4323m (€3519m), which represents a reduction of 4.3 per cent on a comparable basis and measured in euros, the turnover was off by 8.4 per cent. The operating EBITDA came down by 9.5 per cent to CHF650m (€529m), which represents a 10.6 per cent cut in euro terms. The trading profit came down by 17.7 per cent to CHF270m (€220m), while the net attributable profit jumped from CHF10m (€8m) to CHF187m (€152m), largely thanks to the gai... |
Lafarge04 June 2013, Published under Cement NewsLafarge's first-quarter turnover declined by 6.5 per cent to €3136m and the EBITDA fell by 25.6 per cent to €380m, while the running profit dropped by 52.7 per cent to €124m. Net financial costs were reduced by 0.4 per cent to €254m but the pre-tax loss increased from €62m to €137m, with the net attributable loss rising by 95 per cent to €117m. Net debt at the end of March was 4.5 per cent lower at €11,812m, giving a gearing level of 75 per cent. Development capital expenditure in the period... |