Cement News tagged under: corporate
Lucky Cement joint venture prepares to break ground on new DR Congo plant30 May 2013, Published under Cement NewsNyumba Ya Akiba (NYA), a joint venture between Pakistan-based Lucky Cement and the Rawji Group of the Democratic Republic of Congo, is set to break ground on a new 1.2Mta integrated works at the end of next month. The new facility, to be situated 250km from the DR Congo capital on the main Kinshasa-Matadi Highway, will host a groundbreaking ceremony on 30 June 2013, a Lucky Cement spokesperson told CemNet News. NYA has already finalised its plant and machinery purchase contract with FLSmid... |
Votorantim Cimentos unveils terms of IPO, Brazil30 May 2013, Published under Cement NewsBrazil’s leading cement producer, Votorantim Cimentos, has announced terms of its initial public offering (IPO) to fund further expansion, acquisitions and improvements in efficiency. In a preliminary prospectus, the company expects to sell 400 million units, with each unit expected to price between BRL16 (US$7.80) and BRL19. Each unit consists of one common share and two preferred shares. It will also offer American depositary shares that will be listed on the New York Stock Exchange u... |
Cement demand in Belgium falls 2.2% while imports rise30 May 2013, Published under Cement NewsCement demand in Belgium declined 2.2 per cent to 6.41Mt but this decrease was well below the European average decline of 18.8 per cent, according to Belgian cement association Febelcem. Febelcem attributes the figure to local elections, which historically boost public works. The non-residential sector also expanded by three per cent thanks to a numbmer of large projects in Mechelen, Ghent and Halle-Vilvoorde. In 2011, cement consumption reached record 6.55Mt. Looking forward, Febelcem... |
Anhui Conch29 May 2013, Published under Cement NewsAn unexpected rise in China’s level of inflation has hit the country’s second-largest cement producer, Anhui Conch Cement, whose stocks fell 2.1 per cent in early May. This was followed by a further slide later in the month of 1.2 per cent. The fall came after the nation’s statistics bureau announced a 2.6 per cent drop in producer prices, deepening the 1.9 per cent decrease seen in March. According to Bloomberg reports, China is “reluctant to implement stimulus to reverse an unexpected s... |
Cementos Argos29 May 2013, Published under Cement NewsIn early May, Cementos Argos issued COP1.4tn (US$765m) worth of preferred shares to finance its expansion plans. The company sold the shares at COP7700 each, the bottom end of the expected range of COP7700-9300 (US$4.20-5.07). According to Cementos Argos, it received offers worth COP2.1tn. By the middle of May, the preferred shares became the most heavily-traded securities on the Colombian stock exchange, advancing six per cent to COP8160. This compared to the company’s common shares whi... |
Semen Indonesia29 May 2013, Published under Cement NewsSemen Indonesia’s expansion plans continue apace with reports that the company is building a new 3Mta plant in Indarung, near Padang, West Sumatra. The works, which is due to come on-stream in 2016, is expected to cost INR7tn. To help fund the project, the firm is looking for bank loans to help raise INR1tn (US$102m) from the domestic market and up to INR4tn from overseas banks. The state-owned company is also reportedly considering opening plants in Kalimantan, Papua as well as the easte... |
Dangote Cement29 May 2013, Published under Cement NewsDangote Cement has reported a 79.5 per cent rise in its earnings per share in 1Q13, compared to the same period last year. Pre-tax profits also rose, by 80.6 per cent to NGN53.7bn (US$339m). The company is forecasting equally-rosy results for 2Q13 with strong demand in April expected to boost revenue to NGN98.5bn (US$623.3m). Dangote’s African expansion plans continued with the foundation stone being laid in late May for its new 3Mta cement plant in Tanzania. According to the Tanzanian pr... |
PPC29 May 2013, Published under Cement NewsPPC has announced plans to construct a new 1Mta cement plant in the Democratic Republic of Congo. Facing tougher competition in its domestic market, PPC is expanding throughout Africa with US$200m earmarked for DRC. The company is also reportedly looking into opportunities in Zambia, Tanzania and Malawi. In 2012, PPC expanded into Ethiopia with a US$12m investment in Habesha Cement Share Company. Construction has begun on a new cement plant which is due to be operational in 2015. In late ... |
China Resources Cement in talks with Fujian Cement over joint venture29 May 2013, Published under Cement NewsTwo leading China-based cement producers, China Resources Cement and Fujian Cement, are reported to be in discussions to set up a joint venture grinding plant as well as a sales and marketing company, according to reports by local press. No agreement has been confirmed yet. China Resources Cement is also in discussions with Fujian Energy Group Company Ltd regarding cooperation with Fujian Building Materials Holdings Company Ltd, a subsidiary of Fujian Energy and the controlling shareholder... |
Cimpor first-quarter boosted by new profile27 May 2013, Published under Cement NewsCimpor has reported a 22 per cent rise in turnover and a 15.2 per cent YoY increase in EBITDA for the first quarter of 2013 mainly due to the reshuffling of the group's profile. The performance of the new set of assets recently brought in by InterCement resulted in a contribution to consolidated EBITDA that was four times higher than that of the assets handed over by Cimpor in the asset swap concluded at the end of 2012. "The inclusion of operations in new countries such as Argentina and ... |