Cement News tagged under: corporate
New appointments at Loesche India21 December 2012, Published under Cement NewsMr PC Abraham has been appointed Managing Director of Loesche India Pvt Ltd as of 1 October 2012. Mr Abraham joined Loesche India Pvt Ltd on 1 March 1995 and has been working as Executive Director of the Technical Department. Under his leadership Loesche India established a successful and competent Technical Field Service Department. Furthermore, Mr AC Goyal has been nominated as member of the Board of Directors of Loesche India Pvt. Ltd as director of finance. The position is also effecti... |
Lafarge looking to sell stake in Indian operations?21 December 2012, Published under Cement NewsPrivate equity funds are in talks to buy a minority stake in Lafarge India as the cement company taps new ways to fund its expansion, the Economic Times of India reports. Carlyle, KKR, Temasek and TPG Capital have begun preliminary talks with Lafarge India management, two sources close to the transaction said. Some of them have also signed non-disclosure agreements. Lafarge wants to shed up to a 20 per cent stake to fund expansion plans worth about INR6000 crore, the ET reported. " Lafar... |
Quinn and Lagan Cement propose merger20 December 2012, Published under Cement NewsIreland-based Quinn Building Products and the Lagan Cement Group have signed a memorandum of understanding that may lead to a merger of the two groups. The businesses, which will become part of the proposed joint venture, are the combined cement and building products businesses based in Ballyconnell, Derrylin, Kinnegad, Belfast, Cork in Ireland and Benelux. Quinn Therm, Quinn Litepac, Quinn Tarmac and Lagan Sand are not included in this proposal. Commenting on the proposed JV, the CE... |
Deutsche Bank more positive on European building sector in 201320 December 2012, Published under Cement NewsDeutsche Bank expects cement stocks to be among the front runners in any cyclical recovery in 2013 and recommends "buying" HeidelbergCement, Buzzi Unicem and Lafarge as its top picks within the sector, according to reports by Bloomberg. The bank takes a more positive view on the European building materials sector saying it should benefit from a return to 3.5 per cent global GDP growth while there could well be a growth surprise in the euro area. "Into 2013 we believe the significant lever... |
Semen Gresik seals Vietnam deal20 December 2012, Published under Cement NewsIndonesia’s leading cement producer PT Semen Gresik has signed deal worth US$157m with Hanoi General Export-Import JSC (Geleximco) on 18 December to acquire 70 per cent stake in Thang Long Cement JSC. Under the agreement, first reported in mid-November, Semen Gresik will become a strategic shareholder of Thang Long Cement JSC, a joint venture between the state-run Vietnam Machinery Installation Group (Lilama) and Geleximco, local press reported on Wednesday. Thang Long Cement has a cem... |
Agencies withdraw ratings for Apasco’s bonds, Mexico20 December 2012, Published under Cement NewsFitch Ratings and Standard & Poor's have withdrawn their AAA ratings for the MXP950m (US$74.5m) receivables-backed bonds issued by cement manufacturers Cementos Apasco and Concretos Apasco following repayment in full of the issuance, according to reports from the ratings agencies. The companies, subsidiaries of Holcim Apasco, repaid the issuance on 17 December, prior to the November 28, 2013 maturity date. |
HeidelbergCement rises on upgrade for debt - report20 December 2012, Published under Cement NewsHeidelbergCement AG jumped the most in more than four months after MainFirst Bank AG analysts predicted the company will regain an investment-grade credit rating next year, according to a report by Bloomberg. HeidelbergCement rose as much as 5.5 per cent to 46.48 euros, the steepest intraday gain since 3 August and the biggest move today on Germany’s benchmark DAX Index. The stock, which was trading up 5.3 percent at 1:15pm in Frankfurt, has jumped 42 perc ent this year, valuing the company... |
Raysut CEO withdraws resignation, Oman20 December 2012, Published under Cement NewsMohammed Ahmed Al Dheeb has agreed to withdraw his resignation and continue working for Raysut Cement Company as the Group CEO. The board of directors had unanimously agreed to ask Mr Ahmed Al Dheeb to remain at the helm of the Oman-based cement producer. |
Holcim Belgique to close Haccourt facility19 December 2012, Published under Cement NewsHolcim Belgique announced it will close its Haccourt cement grinding plant, near Liège, Belgium. The unit currently employs 43 people. This project is part of a reorganisation of Holcim’s European industrial base announced earlier this week. The group said in a statement that the shutdown was due to a “deterioration of market conditions and grinding overcapacity at Holcim Belgique.” "Holcim Belgique, whose clientele goes beyond the borders of Belgium, is facing increased competition in... |
Titan successfully concludes issuance of new EUR200m notes19 December 2012, Published under Cement NewsGreece-based cement producer Titan has successfully concluded the issuance of new €200m guaranteed notes, due in January 2017. Demand from international and domestic institutional and private investors ensured that the €100m minimum issue, as executed through the exchange of existing and issuance of new notes via the Luxembourg Stock Exchange, was oversubscribed 2.9 times. The new notes bear a coupon of 8.75 per cent, the minimum rate set in the offering. The successful conclusion of th... |