Cement News tagged: Corporate
Antoine Ducleax new Lafarge Central Europe CEO
Antoine Duclaux is the new CEO of Lafarge Central Europe and heads up the future country cluster of Austria, Czech Republic, Hungary, Slovakia and Slovenia. Until recently, he was Senior Vice President Strategy at Lafarge’s headquarters following earlier appointments as Managing Director at Lafarge Emirates Cement, Dubai, and Lafarge Cementos, Honduras. He has been part of the Lafarge team s...
Mexico: Elementia plans to raise about US$290m in IPO
Mexican building materials company Elementia plans to raise about MXN4.5bn (US$290m) in its initial public offering next month. A preliminary prospectus detailed that Elementia plans to offer 201 million shares at a range of between 20 and 25 pesos per share. The IPO will take place on 9 July and shares can begin trading on 10 July, the company said. It will also include a 15 per cent over-a...
South Africa: Sephaku revenue up 36%
Dangote-backed Sephaku Cement said on Friday that its revenue for the year ended March rose by 36 per cent as EBITDA increased by 39 per cent to ZAR139m (US$10.2m). Operating profit soared 44 per cent to ZAR109m, with profit after tax up 57 per cent. The group recorded a profit before tax of ZAR72m and net profit of ZAR47m. Sales revenues came mainly from the Delmas milling plant which reach...
Steppe Cement announces appointment of non-executive director
Steppe Cement Ltd announced the appointment of Xavier Marcel Hervé Blutel - Guilloud de Courbeville to its Board of Directors, with immediate effect, as a non-executive director. Xavier Blutel (60) is currently the senior adviser, Wagram Corporate Finance, president and founding partner of SAS Baudrimont and a Conseiller du Commerce Extérieur de la France. Mr Blutel brings significant experi...
New order for Loesche cement mill in Mexico
Cementos Moctezuma has selected Loesche’s LM 53.3+3 C cement mill, including COPE gearbox, to increase production capacity at its plant in Apazapan, Mexico. Loesche LM 53.3+3 C The VRM mill will be used to produce 205tph CPC 30 cement at 4000 Blaine as well as 95tph CPC 40 cement, also at 3700 Blaine. The scope of supply also includes a Loesche Dynamic Classifier as well as the ...
Fitch puts China Shanshui Cement ratings on Negative Watch
Fitch Ratings has affirmed China Shanshui Cement Group Limited's (Shanshui) Long-Term Issuer Default Rating (IDR) and senior unsecured ratings of 'B+'. The agency has also put the rating on Negative Watch to reflect the possibility of Shanshui running into insolvency in the event that it is forced to redeem the US$500m 7.5 per cent senior notes due 2020 (2020 notes) if its chairman Zhang Bin i...
Qalaa Holdings to focus on core subsidiaries, including cement
Qalaa Holdings has signed a set of agreements with Financial Holdings International (FHI), one of Qalaa’s major co-investors, through which Qalaa will acquire from FHI additional stakes in subsidiaries that are core to Qalaa’s future as a holding company. These include stakes in companies involved in the energy, cement and transportation sectors, among others. Simultaneously, Qalaa will...
Medcem to invest in 3Mta works in north Colombia
Turkish cement producer Medcem plans to built a 3Mta works in the north of Colombia, according to local press reports. The US$50m plant will be constructed in the Free Economic Zone of Puerto Brisa, near Dibulla in Guajira department. “The project represents an investment of US$50m over six years to supply the local industry in a part of Colombia where no cement factories exist,” El Economis...
Fitch revises West China Cement's Outlook to Stable, affirms 'BB-' Ratings
Fitch Ratings has revised West China Cement Limited's (WCC) Outlook from Negative to Stable. Its Long-Term Issuer Default Rating (IDR), senior unsecured and bonds ratings have been affirmed at BB-. The change in Outlook reflects WCC's strengthened position in its core Shaanxi market and its improved leverage, following the recent equity placement to Anhui Conch Cement Company Ltd (Conch). K...
Limak Holdings eyes Mozambique entry
Turkish conglomerate Limak Holding says it will invest US$150m in a 2Mta cement factory in Mozambique. Limak chairperson, Nihat Ozdemir, said his firm would create least 500 jobs during the first phase of the factory to be built in the Maputo port area. Limak has major interests in construction, cement, electricity and tourism in Turkey, Egypt, Pakistan, Saudi Arabia, Albania and Macedonia.
American Starlinger-Sahm Inc moves into new HQ
American Starlinger-Sahm Inc has completed the move into its new North American headquarters. Located in Fountain Inn, South Carolina, the facility consists of a machine exhibition area, spare parts warehouse, and office space. American Starlinger-Sahm's new HQ in South Carolina, USA “North America is an important market with strong growth potential both in woven plastic packaging...
New managing director at Unicon A/S
Søren Holm Christensen, finance director in the Nordic and Baltic region of Cementir Holding, has been appointed managing director for its subsidiary, Unicon A/S in Denmark, as of 1 September 2015. Søren Holm Christensen takes over from Jesper Knudsen, who will take on a position as CEO of EL:CON, after nine years of employment, including six as Regional Director.
Cementos Portland in EUR200m capital increase
The shareholders of Spain's Cementos Portland have approved a EUR200m increase in the Spanish cement producer’s capital to strengthen its balance and reduce its debt. Cements Portland will issue new shares at EUR6.5 each to help alleviate its EUR1.3bn debt while it works on “different alternatives” and wrote down EUR100m last February.
TCL Group plans delisting
In the midst of a major debt restructuring exercise, Trinidad Cement Ltd (TCL) has announced that it could delist from the Barbados Stock Exchange (BSE), the Eastern Caribbean Securities Exchange (ECSE) and the Guyana Association of Securities Companies and Intermediaries Inc (GASCI) following its annual shareholders meeting next month. In a notice last week, the Caribbean-based company said...
Buzzi hosts Missouri delegation at company HQ
At the end of March, Buzzi Unicem hosted a delegation of public officials and entrepreneurs from Missouri, led by state governor Jay Nixon. The governor was accompanied by Mike Downing, director of the Economic Development Department of Missouri, Richard Fordyce, director of the Department of Agriculture of Missouri, Tom Dempsey, president Pro Tempore of the Senate, speaker of the House John ...
Fitch withdraws Societe des Ciments d'Enfidha ratings, Tunisia
Fitch Ratings has affirmed Tunisian building materials group Societe des Ciments d'Enfidha (SCE) National Long-term rating of 'BBB(tun)' with Stable Outlook and National Short-term rating of 'F3(tun)'. However, Fitch simultaneously withdrew the ratings because it no longer has sufficient information to maintain them. Accordingly, Fitch will no longer provide ratings or analytical coverage for ...