Cement News tagged under: corporate
Chettinad Cement gets shareholders’ nod for delisting05 February 2013, Published under Cement NewsChettinad Cement announced that it has received shareholders' approval to delist the company’s shares from the stock exchanges. In a filing to the Bombay Stock Exchange (BSE) the company said the proposal to delist shares has been “approved by the requisite majority of votes.” Chettinad Cement is listed on the National Stock Exchange, Madras Stock Exchange and its share are permitted to trade on the BSE. Voting started on January 4 2013, and ended yesterday. The Chennai-based company h... |
UltraTech Cement in talks to buy ABG Cement plant, India05 February 2013, Published under Cement NewsIndia’s largest cement producer, UltraTech Cement, is in talks to purchase an incomplete 6.7Mta cement plant in Gujarat owned by the ABG Cement group, the Economic Times of India reports. “Executives of both UltraTech Cement and ABG had three rounds of negotiations,” a source told the local daily. According to the report, Axis Capital, the investment banking arm of Axis Bank, is advising UltraTech. “We had some discussions in the past," a senior ABG official said. "The company is ke... |
Cimpor and InterCement announce Brazil asset merger05 February 2013, Published under Cement NewsCimpor’s board of directors has approved the merger of two of its subsidiaries in Brazil, namely Cimpor Cimentos do Brasil and InterCement Brasil, Cimpor announced. Both companies are fully and indirectly owned by Cimpor, which itself is controlled by Brazil's Camargo Corrêa. The merger was approved on 30 January 2013. "The merger of these two companies in the Cimpor universe will make it possible to create joint value, promoting synergies, leading to improved operating efficiency and quali... |
Dyckerhoff improves cement profits in Russia and the USA04 February 2013, Published under Cement NewsPreliminary figures from the Buzzi Unicem subsidiary Dyckerhoff show turnover edging ahead by 0.2 per cent to €1603m in 2012. Of this, 37 per cent was generated in Germany, 39 per cent in Eastern Europe and Russia, 11 per cent in the Benelux and 13 per cent in the United States. Group cement deliveries were 2.4 per cent lower at 15.53m tonnes, while ready-mixed concrete volumes were 7.3 per cent lower at 7.32Mm³. ... |
Fitch Assigns Initial 'BBB-' IDR to Cementos Pacasmayo SAA04 February 2013, Published under Cement NewsFitch Ratings has assigned the following initial ratings to Cementos Pacasmayo: Foreign currency Issuer Default Rating (IDR) 'BBB-'; Local currency IDR 'BBB-'. The Rating Outlook is Stable. Fitch says the ratings reflect the company's solid business position, as the only cement producer in Peru's northern region. Pacasmayo's position has resulted in high margins, low leverage and solid liquidity. The small size of the cement market in the north, as well as the difficulty of logistics in t... |
UK construction: calls for real activity04 February 2013, Published under Cement NewsFollowing disappointing 2012 figures, the UK construction sector is braced for another tough year ahead and industry bodies are stressing the need to boost activity across the sector to prevent further declines in the industry and the wider economy. Evidence of a rapid decline in construction activity was confirmed by Mineral Products Association (MPA) sales survey results for 2012, which indicate a reduction of nine per cent in cement, aggregates and ready-mixed concrete in 2012 and an 1... |
Loesche acquires majority stake in aixprocess and aixergee, Germany01 February 2013, Published under Cement NewsLoesche announced it has acquired the majority of stakes in the aixprocess and aixergee engineering companies based in Aachen, Germany. aixergee GmbH is specialised in the optimisation of production processes in the cement industry and well-established internationally in the areas of alternative fuel firing, performance improvement, emissions reduction and stabilisation of plant operation. aixergee GmbH combines industry-specific knowledge with numerical computation methods customised to ... |
Cementir improves profits in spite of lower volumes01 February 2013, Published under Cement NewsCementir Holding saw turnover advance by 4.6 per cent to €976.2m, helped by better prices, and the EBITDA improved by 11.1 per cent to €138.0m. Net debt at the end of 2012 was 4.2 per cent higher at €373m. The number of employees increased by 3.3 per cent to 3307. Group shipments of grey and white cement declined by six per cent to 9.85Mt, reflecting lower volumes in Italy and in Egypt and a decline in exports from Turkey. This was in part offset by higher volumes in the Far East. Aggre... |
South Korean producers to initiate cement price hike31 January 2013, Published under Cement NewsLeading cement producers in South Korea are set to initiate a cement price increase from next month in an effort to offset rising production costs. Notification has been sent stating that the prices are to rise from Thursday, 7 February and if they stick the average price will go up from the current 73,600/t (US$68) to 81,000/t won (US$74) A Dongyang Cement official said, "Due to the rise in industrial electricity rates last year in two occasions, our kiln operating cost has increased ... |
HSBC downgrades Holcim31 January 2013, Published under Cement NewsHSBC downgrades Holcim to neutral from overweight and raises target to CHF77 from CHF75 on expectations of a recovery in cement company earnings. "Our forecast is reinforced by recent industry trends in the US and emerging markets countries, energy price falls and self-help programs," according to analysts. |