Cement News tagged under: corporate
Adelaide Brighton acquires 30% in Malaysian white cement producer03 December 2012, Published under Cement NewsAdelaide Brighton Limited has entered into an agreement to acquire 30 per cent of white cement producer Aalborg Portland Malaysia Sdn Bhd (APM). The acquisition price for the 30 per cent equity stake in APM is US$29.7m including US$2.3m for 30 per cent of the net cash on hand, plus transaction costs of about US$0.4m. Completion is expected on 5 December 2012. APM's facility is situated in Ipoh, on the west coast of the Malaysian Peninsula, approximately 180km north of Kuala Lumpur. It ... |
UltraTech Cement eyes Jaypee's Gujarat operations03 December 2012, Published under Cement NewsIndia's largest cement producer UltraTech Cement is understood to be in talks with Jaypee Group for the latter's business in Ahmedabad, Gujarat. Local press have reported that the deal is valued at around US$700-890m and is likely to close by year-end. Jaypee's Gujarat operations have a capacity of 4.8Mta. The company also has cement assets in Andhra Pradesh. The proceeds received by Jaypee would be used in part to meet capacity expansion and retire debt. CRH had also been in negotiati... |
Steppe Cement's share offer oversubscribed03 December 2012, Published under Cement NewsKazakhstan-based cement producer Steppe Cement has announced that last month's offer for qualifying shareholders of 40m new shares in at 25p per share has been oversubscribed. Around 83 per cent of existing shareholders participated in the offer which resulted in an oversubscription of 34 per cent. The directors will scale back applications in accordance with the basis of allocation. The admission and dealing of the new shares will begin on AIM around the beginning of next week. The... |
Cemex leads the charge on US pricing03 December 2012, Published under Cement NewsCemex is planning two incremental cement price increases in January and April 2013 in a bid to reverse the "chronic under-pricing of cement in the US", says Karl Watson, president Cemex USA. Speaking at a presentation in Mexico on Tuesday this week, Watson said that the price increases of US$8/t each are integral to the company's goal of achieving an EBITDA of over US$1bn by 2016. "Prices, in real terms, averaged US$154/t in the 1970s. The current industry price of, on average, US$90/t is... |
Gresik eyes tie-up with Semen Baturaja, Indonesia30 November 2012, Published under Cement NewsSemen Gresik CEO Dwi Soetjipto has expressed an interest in synergising with another state-owned cement producer, Semen Baturaja, according to local press reports. "We see that such a synergy can improve Semen Gresik's position and Baturaja's inclusion can give added value," said Dwi at a press conference during the Investor Summit, earlier this week. The acquisition was planned after Semen Gresik had changed its name to Semen Indonesia and became a strategic holding company for products u... |
Bamburi Cement appoints director, Kenya30 November 2012, Published under Cement NewsBamburi Cement has appointed John Simba as a director. The effective date is November 29, 2012. |
PT Semen Baturaja IPO set for Feb 2013, Indonesia29 November 2012, Published under Cement NewsIndonesian state-owned producer PT Semen Baturaja expects to list its shares on the Indonesia Stock Exchange in February 2013. Semen Baturaja has been ready to release a maximum of 2 billion shares, or equivalent to 35% of paid up capital, with a targeted Initial Public Offering (IPO) proceeds of IDR1trn. The company had appointed three underwriters for its IPO, namely PT Bahana Securities, PT Danareksa Sekuritas and PT Mandiri Sekuritas, Investor Daily reported. Semen Baturaja President D... |
CRH looks for new Nesher Cement CEO29 November 2012, Published under Cement NewsCRH is reviewing the candidacy of Moshe Kaplinsky for the position of CEO of Nesher Cement Enterprises following the departure of Joel Feldschuh announced earlier this week. Mr Kaplinsky is the former CEO of Better Place Israel. Mr Feldschuh announced on Monday that he will leave the company at the end of the year. His departure follows the sale in July of its controlling shareholder, Clal Industries and Investments Ltd to Len Blavatnik's Access Industries, by IDB Holding Corp. Ltd, contr... |
Gresik sees output rising 18% next year, Indonesia29 November 2012, Published under Cement NewsIndonesia’s leading cement producer PT Semen Gresik expects cement production to increase by 18 per cent next year, however, it has hinted that domestic sales growth could slow next year compared to the robust figures expected in 2012. The company’s president director Dwi Soetjipto said the company’s production growth could rise to 26Mt in 2013 from output of about 22Mt in 2012. In the first 10 months of 2012, the Gresik group sold 18.13Mt, an increase of 13.6 per cent compared to 15.... |
Argos looking to raise US$411m with bond issuance28 November 2012, Published under Cement NewsGrupo Argos is looking to raise up to COP750bn (US$411m) with the issuance of mandatory convertible bonds scheduled for November 27, local paper La República reported. Groupo Argos is the parent company of Colombia's largest cement firm, Cementos Argos. The placement, already approved by Colombian financial regulator Superfinanciera, will start with an initial value of COP500bn, with the possibility to be increased by COP250bn. The issuance was expected to include two-year and five-year... |