Cement News tagged under: corporate
Suez Cement to invest US$40m in environmental upgrade and fuel adjustments22 November 2012, Published under Cement NewsSuez Cement is planning to invest around US$40m over the next couple of years to enhance environmental performance at its plants as well as switching partly to coal and refuse, according to Alborsa newspaper. Suez Cement managing director Bruno Carre said that the company is considering a number of investment opportunities in the Egyptian market in light of recent political and economic developments. In 2012, the company invested around EGP300m while total investments by the parent co... |
Gansu Cement to raise RMB1.68bn via rights issue22 November 2012, Published under Cement NewsGansu Qilianshan Cement Group Co plans to raise up to RMB1.68bn via a rights issue. The company will sell 142m shares to its shareholders at a ratio of three new shares for every 10 held at RMB6.26/share. Proceeds from the issue will be used to repay bank loans and replenish working capital. |
CRH cuts costs and eyes emerging markets21 November 2012, Published under Cement NewsCRH showcased a credible, bottom-up cost savings plan during its recent analyst day in London, UK. Cost savings are expected to offset more than 75% of the impact of lower volumes as the group presented an additional E450m of cost savings during 2012-15. “Targets appear achievable and weighted towards the heavy-side Materials businesses in Europe and the Americas, where logistics, procurement, back office efficiency and energy appear to be the key levers,” said JP Morgan in its latest res... |
Cemex to return to profitability in 2013?21 November 2012, Published under Cement NewsMexican cement producer Cemex is seen on track to return to profitability as soon as 2013, according to analysts quoted by Reuters. The company recently refinanced US$6.7bn in debt, negotiating much-need room to push back looming payments for up to four years. Measures included a commitment to pay down US$1bn in March of next year, revised financial covenants and a debt swap, all of which have put relations with investors on a more comfortable footing. In addition, Cemex floated its C... |
Yanbu Cement records 25.5% YoY rise in quarterly net profit21 November 2012, Published under Cement NewsIn the quarter ended 30 September 2012, Yanbu Cement saw total revenues fall 21.4% to SAR339.6m (US$90.5m) and net profits slipped from SAR215.6m to SAR156.7m when compared to the previous quarter. However, on a YoY basis, the company recorded a 149.7% sales revenue increase from SAR272.5m. In terms of net profit, the Saudi Arabian cement producer reported a 25.5% advance from SAR124.9m. |
National Cement to open new 1.65Mta Nairobi works21 November 2012, Published under Cement NewsNational Cement announced plans to open a new 1.65Mta cement works in the outskirts of Nairobi, Kenya. The company said it received an undisclosed loan from KCB Group, raw materials on credit and a cash injection from its parent company Devki Group of Companies to finance the new KES11.9bn. The new capacity is expected to intensify to battle for control of the regional cement market. The entry of National Cement and Mombasa Cement increased competition with the latter rapidly claiming... |
IL&FS Trust Co ups stake in India’s Deccan Cement21 November 2012, Published under Cement NewsDeccan Cement reported that IL&FS Trust Company increased its stake in the Indian cement producer by 2.01% to 19.82%. The transaction, understood to have taken place between February and November, added 1.4 lakh shares to the 1,247,000 shares already owned by IL&FS Trust Company. |
Zimbabwe’s PHL agrees ownership deal with government20 November 2012, Published under Cement NewsPPC-owned cement producer Portland Holdings Ltd (PHL) has agreed an ownership deal with the Zimbabwean government and plans to invest US$200m to expand its operations in the country. PPC said the deal followed a series of engagements between PHL and the Economic Empowerment Ministry which culminated with the approval of an empowerment plan that complied with the indigenisation legislation. Zimbabwe’s indigenisation and empowerment laws require foreign-owned firms to sell at least 51 pe... |
Bosowa starts construction on US$130m clinker unit20 November 2012, Published under Cement NewsPT Semen Bosowa Maros officially started construction on a new clinker plant in South Sulawesi as part of its expansion programme. Located in Maros, Kiln Plant Line 2 will increase production capacity to from 2.5Mta to 5.2Mta. Construction of the US$130m works is scheduled to be completed by the end of 2014. The new unit is expected to help the company increase its cement production to meet the country’s growing cement demand. “As of now, our cement production is 3.2Mta, only about 6% ... |
Maple Leaf Cement expects to record highest net profit in six years20 November 2012, Published under Cement NewsPakistani cement producer Maple Leaf Cement Factory Ltd (MLCF) is expected to be on track to record its highest net profit in six years on improved price realisation and lower interest rates reducing loan payments. Rising prices are helping local cement makers to deal with sluggish sales. In the four months ended 31 October, national sales were 1.5% down to 13.4Mt, according to the All Pakistan Cement Manufacturers’ Association. The average price of a 50kg bag could increase to PKR440 by ... |