Cement News tagged: Corporate
Lafarge Zambia reports first-half increase
Lafarge Zambia plc has posted a four per cent profit after tax from ZMW180.7m ((US$18.4m) in 1H14 to ZMW187.1m in the same period of 2015 despite the country's economic challenges and political uncertainties in Democratic Republic of Congo (DRC), which constitutes the company’s major export market. The company also recorded a 14 per cent turnover of ZMW699.1m in 2015 from ZMW614.3m in 2014. ...
GICA’s Ain El Kebira to launch on stock exchange
Groupe Industrial des Ciments d’Algérie (GICA) plans to place 35 per cent of the capital of Ain El Kebira cement plant on the Algerian stock exchange in 2016, according to its CEO, Laid Khaber. The stake will be made available to institutional investors such as banks, financial and insurance companies. However, he emphasised that the cement company’s entry to the bourse does not mean it will...
Myanmar: Arr Thit Man plans to double capacity
Myanmar producer Arr Thit Man plans to double its cement output from 5000tpd to 10,000tpd by 2016, according to a report in the Myanmar Times citing senior officials. The company's plant is based in Kyaukse, Mandalay and it sells cement under the Double Rhinos brand. "We are a new brand, but we are focused on the quality of cement and fulfilling market demand," said the company's managing d...
Pakistan: Bestway Cement and Pakcem results update
Bestway Cement and group company Pakcem have posted a positive bottom line. Net turnover increased by 5.4 per cent from PKR28.9bn (US$277m) to PKR30.5bn for Bestway and Pakcem saw a 9.4 per cent increase from PKR5.11bn from the corresponding period to PKR5.58bn to June 2015. “We are happy to share our annual results for 2014-15 for Bestway Cement and six-month period for Pakcem, with growth i...
St-Gobain gets green light to acquire control of Sika
The Swiss competition commission (Comco) has authorised the control of Sika by construction materials giant St-Gobain, the French company announced in a press release on Tuesday. This decision follows the favourable ruling handed down by the European Commission on 22 July 2015 as well as the decisions already received from other competition authorities, notably in the United States and China.
LafargeHolcim offers €60 a share in squeeze-out
LafargeHolcim has decided to implement a squeeze-out procedure for the Lafarge shares not tendered between May and July 2015 (representing 3.56 per cent of the share capital). LafargeHolcim is offering to indemnify in cash the shareholders of Lafarge at a price of €60 per share. As an alternative to the cash indemnification proposed, an exchange option of 9.45 LafargeHolcim shares for 10 La...
Buzzi Unicem makes binding bid for SACCI
Buzzi Unicem has made a second offer for fellow Italian producer SACCI to acquire its cement and ready-mix concrete business. In a statement Buzzi said it had offered a provisional price of EUR74m to be financed through liquidity on hand and/or existing credit facilities. A further variable outlay is expected on top of the original commitment which will be worth no less than EUR25m, Buzzi...
CRH plc completes Philippines element of LafargeHolcim transaction
CRH has completed the acquisition of the assets acquired from LafargeHolcim in the Philippiness. In early August, CRH confirmed that the majority of the transactions relating to the package of assets to be acquired from LafargeHolcim were complete, with the exception of the operations in the Philippines which it advised would be finalised in 3Q15.
CRC Cement Holdings to acquire 40% stake in Yunnan producer, China
China Resources Cement Holdings Ltd (CRC) has agreed to pay CNY1.51bn (US$236.9m) for a 40 per cent stake in cement producer Yunnan Kunming Iron & Steel Building Materials Group Co, in a bid to lift production capacity. The Hong Kong-listed cement manufacturer said Monday it plans to buy a minority stake in the Yunnan-based producer. Kunming Iron & Steel Holding Co, Ltd currently owns 1...
Chinese ministries give nods to 37 cement, panel glass projects
The Ministry of Industry and Information Technology (MIIT) and the National Development and Reform Commission (NDRC) have given green lights to construction of 37 cement and panel glass projects in seven provinces of China, the MIIT said on Monday. The 37 projects that have already been under construction include three in Jiangsu Province, six in Fujian province, six in Hubei province, nine i...
KHD signs contracts in Russia
ZAB Zementanlagenbau GmbH Dessau (ZAB), Dessau, Germany, a subsidiary of KHD Humboldt Wedag International AG (KHD), Germany, has signed contracts totalling over EUR100m for equipment and services for a new cement plant with a production capacity of 4500tpd clinker. The new plant will be built in the Northern Caucasus region of Russia.
Asia Cement issues 9M15 profit warning, China
Asia Cement said it is expecting to record a net loss for the nine months ending 30 September 2015 compared to a net profit in the year-ago period. The expected loss is mainly attributable to the decrease in average selling price of the company's products and the foreign exchange loss from US dollar-denominated bank borrowings as a result of the devaluation of RMB. As a substantial por...
ARM expects new clinker line to boost margins
Kenya's ARM Cement expects profitability to improve now it produces its own clinker for its east African cement plants, its managing director told Reuters on Friday. The company posted a pretax loss of KES473.5m (US$4.5m) in the first six months, which the firm blamed on unrealised foreign exchange losses associated with borrowing for its new clinker plant. Managing director Pradeep Paunrana...
China: MCC unit to sell cement assets
China 22MCC Group Corporation Ltd, a wholly-owned subsidiary of the China Metallurgical Group Corporation (MCC), plans to sell cement assets for a combined CNY57.64m, according to the China Beijing Equity Exchange. China 22MCC Group aims to sell its 6.7379 per cent stake in Jidong Cement Luan County Corp for about CNY44.44m and its nine per cent stake in Tianjian Jidong Cement Corp for around...
Cementos Argos included in the Dow Jones Sustainability Index for the third-consecutive year
The Dow Jones Sustainability Index has selected Cementos Argos once again as one of the three most sustainable cement companies in the world. For the third-consecutive year, the company managed to get the score necessary to be included in the World and Emerging Markets Indices. For the economic dimension, Argos obtained the highest score in the industry, nearly doubling its average score, a...
Steppe Cement first-half loss narrows, Kazakhstan
Steppe Cement Ltd Friday said its first-half loss before tax narrowed to US$2.29m from US$6.40m in the previous year. Loss after tax totaled US$2.2m, narrower than the US$4.1m loss in the prior year. Consolidated turnover fell to US$44.7m from US$51.8m. Sales increased to 717,654t from 709,459t. The average ex-factory price decreased from 10 per cent to KZT10,797/t, due to competition fr...