Cement News tagged under: corporate
Malvern Instruments opens new applications laboratory in São Paulo, Brazil19 December 2012, Published under Cement NewsMalvern Instruments has opened a new applications and demonstration laboratory in Brazil. Located at the São Paulo facility of Malvern’s parent company Spectris, the new laboratory will provide pre- and post-sales support to customers across all of Malvern’s technology areas, and will augment established particle characterisation demonstration labs elsewhere in Brazil. The new laboratory will be equipped with instruments spanning Malvern’s entire range of particle characterization, prote... |
Cemex completes financial plan for 201218 December 2012, Published under Cement NewsCemex announced today the completion of its financial plan for 2012, which included several transactions to refinance and/or prepay debt scheduled to mature through 2014, thereby increasing the company’s financial flexibility and significantly reducing its refinancing risk. Under this year’s financial plan, Cemex reduced the amount of debt maturing through March 2015 to about US$650m, at currently prevailing foreign-exchange rates, of which approximately US$600m matures during the first qu... |
India cement sector to see recovery in FY13-1418 December 2012, Published under Cement NewsIndia's cement industry is expected to see a sharp recovery in cement prices in FY13-14 with an improving supply and demand scenario, as well as government measures to fast-track infrastructure projects. Reuters reports that Deutsche Bank believes cement companies such as UltraTech Cement and Shree Cement that have potential to increase capacity and have a bigger presence in western and northern India will witness "disproportionate benefits". Meanwhile, Morgan Stanley maintains an 'attra... |
Holcim to restructure operations in Europe17 December 2012, Published under Cement NewsHolcim has said it will introduce a leaner management structure in Europe to reflect the lower level of construction activity, and expects to save at least CHF120m (EUR97mm) a year. The additional cash costs for restructuring in the fourth quarter of 2012 will amount to approximately CHF100m (EUR80.8m) including site restoration costs. Write-offs of property, plant and equipment will reach CHF410m (EUR331.5m) to be charged in the fourth quarter of 2012. The restructuring accelerates ... |
Taiheiyo's China subsidiary announces new joint venture17 December 2012, Published under Cement NewsJapan's leading cement producer Taiheiyo Cement Corp announced that its Chinese sub sidiary Taiheiyo Cement (China) Investment Corp, has signed a joint venture agreement with Xinjian Tianye (Group) Co in Beijing. Both companies agreed to establish the new venture named Xinjiang Tianye Taihieyo Building Material Co (TTBM) in Xingjiang Uygur Autonomous Prefecture in northwest China. TTBM will produce OPC, blended cement and special cement, such as moderate heat cement. TTBM will utilise quick... |
Fitch affirms Central Asia Cement rating revises Outlook upward, Kazakhstan17 December 2012, Published under Cement NewsFitch Ratings has affirmed Central Asia Cement's (CAC) National Long-Term Rating at 'BB-(kaz)' and revised the joint stock company's Outlook to Positive from Stable. The agency has also affirmed CAC's senior unsecured KZT1.5bn bond rating at 'B(kaz)'. "The completion of Steppe Cement's capital increae reinforces CAC's financial structure and should allow financing of the investment in the Line 5 refurbishment, while reducing leverage," Fitch said in a statement, adding: "The group is sti... |
Hail Cement signs loan agreement, Saudi Arabia14 December 2012, Published under Cement NewsSaudi Arabian cement company Hail Cement announced that it has signed a loan agreement with the Saudi Industrial Development Fund on 12 December 2012. The loan amount is SAR300m (US$80m) repayable in 20 half-yearly unequal installments as scheduled and approved against mortgage of all fixed assets. The period of the loan is 12 years, with payment starting 2015. The company is using the loan to fund the development of a new cement factory in the city of Hail, according to a statement ma... |
Eurocement Group to invest over EUR1.5bn in expansion14 December 2012, Published under Cement NewsRussia's leading cement producer Eurocement Group is to invest over EUR1.5bn in five expansion projects of its production facilities until 2015. Among them, the plant in Voronezh Province, with a capacity of 2.4Mt, is to be put into operation by the end of 2012. Another project involves the installation of new production facility with the capacity of 1.3Mt in the Nevyansky Tsementnik plant in the Sverdlovsk Province. (Source: SKRIN Newswire). |
BoA-Merrill upgrades India's cement stocks to 'buy'14 December 2012, Published under Cement NewsBank of America-Merrill Lynch upgrades its rating across cement stocks to 'buy' from 'neutral' or 'underperform', saying capacity will lag demand, while valuations are below previous up cycles. The investment adds general elections in the next 18 months bode well for the Indian cement sector given the demand-GDP multiplier expanded in four out of the five previous election years. Among the major cement manufacturers, Bank of America upgraded UltraTech Cement and Ambuja Cements to 'buy'... |
PPC buys majority stake in Rwanda cement producer13 December 2012, Published under Cement NewsSouth Africa’s leading cement producer Pretoria Portland Cement (PPC) has acquired a 51 per cent equity stake in Rwanda-based cement producer Cimerwa Ltd. The deal is worth a total cash consideration of US$69.4m. Cimerwa is situated in southwestern Rwanda and is the African country’s sole cement producer. It has a current capacity of 100,000tpa and is constructing a 600,000tpa expansion that will be commissioned in 2014. In addition to shareholder equity contributions‚ Cimerwa is in t... |