Cement News tagged under: corporate
HeidelbergCement to sell stake in Indian unity to private equity investors?20 May 2013, Published under Cement NewsHeidelbergCement is reported to be in talks with private equity investors to sell a minority stake in its Indian arm, which could result in the second such deal in the domestic sector in recent weeks. Speculation is mounting that Bain Capital is conducting a due diligence to pick up around 10 per cent in Heidelberg India according to reports by The Telegraph. Other private equity investors such as Carlyle and Sequoia are also reported to be interested. Earlier this year HeidelbergCement... |
PPC to construct new plant in Democratic Republic of Congo17 May 2013, Published under Cement NewsPPC has announced plans to construct a 1Mta cement factory in the Democratic Republic of Congo, as part of the company’s plans to increase revenue streams outside South Africa to 40 per cent by 2016. The company is expanding in Africa through acquisitions to offset tougher competition in its domestic market and plans an investment of plans an investment of US$200m in the central African country. The move follows acquistions made last year in cement producers in Ethiopia and Rwanda. In ... |
Lafarge WAPCO's debt reduction plans17 May 2013, Published under Cement NewsLafarge WAPCO plans to pay off a NGN6bn (US$40m) in local debt this year, according to reports by Reuters. The company owes about NGN28.4bn (US$180.43m) in total loans, of which NGN6bn is from Nigerian banks, Fred Amobi, its chief financial officer told analysts at a conference call. He said Lafarge WAPCO had a three-year bond worth NGN11.6bn and a loan from a Nigerian development bank of NGN10.8bn in addition to the bank loans. Lafarge WAPCO, reported recorded a 50 per cent rise in it... |
Eagle Materials boosts cement and plasterboard volumes16 May 2013, Published under Cement NewsIncluding its share of the jointly-owned Texas Lehigh Cement, the turnover of Eagle Materials for the financial year to the end of March rose by 27.1 per cent to US$738.9m, including the assets acquired from Lafarge from the end of November last year. Of the total turnover, plasterboard accounted for 41.5 per cent, cement 40.8 per cent, plasterboard liner 10.2 per cent and aggregates and concrete 7.5 per cent. The trading profit jumped by 93.9 per cent to US$134.54m thanks to an 11-fold i... |
Lafarge raises EUR200m to accelerate its development in India15 May 2013, Published under Cement NewsLafarge SA signed an agreement to raise €200m through capital increase subscribed by Baring Private Equity Asia, and representing a 14 per cent minority stake in its Indian subsidiary, Lafarge India Private Ltd. This transaction, which is subject to the approval of local regulatory authorities, will accelerate Lafarge's growth plans in India in all its product lines: Cement, Aggregates and Concrete. Lafarge entered the Indian market in 1999 through its cement business and currently ope... |
Titan recovers in the USA15 May 2013, Published under Cement NewsTitan's first-quarter turnover showed a 7.8 per cent improvement to €243m while the EBITDA fell by 29.4 per cent, in line with the 29.3 per cent reduction seen this time last year, to €24.3m. The pre-tax loss rose by 33.5 per cent to €23.5m and the net attributable loss rose by 39.7 per cent to €27.1m. Net debt at the end of March, however, declined by 20.1 per cent to €630m, giving a gearing level of 41.6 per cent, compared with 48.6 per cent a year earlier. Group cement shipments ro... |
Oficemen names new president, Spain15 May 2013, Published under Cement NewsIsidoro Miranda, CEO of Lafarge Spain, has been appointed president of Spanish cement association, Oficemen. Mr Miranda replaces José Luis Sáenz de Miera of Cementos Portland Valderrivas, who was appointed in late February following the departure of Juan Bejar, also of Portland Valderrivas. Speaking of the challenges the Spanish cement sector faces in light of the current economic climate, Mr Miranda stated: "The cement industry is at a critical moment, but our business is critical to... |
Saudi Cement Co signs contract with Sinoma for kiln upgrades14 May 2013, Published under Cement NewsSaudi Cement Co has announced that it has signed a contract with Sinoma Technology & Equipment Group Co to rehabilitate and restart kiln lines 4 and 5 at its Hofuf factory. Under the deal worth US$19.9m, the Saudi-Arabia based cement producer said it had signed the contract with Sinoma, adding that the work would be "fully financed through the company's own resources." The project is expected to start immediately and will be completed by the end of the year. |
Sanghi Industries' 3Q benefits from extended sales reach14 May 2013, Published under Cement NewsSanghi Industries Ltd has posted a 234 per cent jump in net profit as the Gujarat-based producer increases its geographical sales spread and implements a number of cost-saving measures. Net profit for the third quarter ended 31 March 2013 reached INR419m compared to INR125m for the same quarter in previous financial year. Net sales in the 3QFY12-13 were INR2981m, almost on a par with the INR2971m recording in the 3Q of the previous year. For the nine months of current financial year, pro... |
Buzzi Unicem is advancing in Russia and in the USA13 May 2013, Published under Cement NewsBuzzi Unicem's first-quarter turnover declined by 10.5 per cent to €503.14m and the EBITDA dropped by 51 per cent to €11.75m but advances were seen in Russia and the USA. The loss at the trading level was 29.7 per cent higher at €42.03m. Net financial charges declined by 7.3 per cent to €25.83m to give a seasonal pre-tax loss 7.1 per cent higher at €68.82m. Net debt at the end of March was 9.1 per cent higher at €1227m, giving a gearing level of 50.4 per cent compared with 47.1 per cent a... |