Cement News tagged: Corporate
Trinetra shareholders give green light for merger
Shareholders of Trinetra Cement Ltd have approved the scheme of amalgamation and arrangement between the company and Trishul Concrete Products Ltd with India Cements. “The Scheme was duly approved by the Secured Creditors of the Company with requisite majority," the company said in a filing to stock exchanges. India Cements announced in May last year that as part of restructuring, it...
Buzzi Unicem returns to a net profit
On a turnover just 0.1 per cent lower at EUR2506.4m, Buzzi Unicem's underlying EBITDA did increase by 7.1 per cent to EUR404.8m in 2014, while at the headline level there was a 4.8 per cent advance to EUR422.7m. Following a 23 per cent reduction in impairment charges, depreciation and amortisation, the trading profit (EBIT) more than doubled from EUR86.5m to EUR178.7m. After a net interest ...
PPC and AfriSam call off merger talks
South African cement producers PPC and AfriSam have called off merger talks after they could not reach a consensus on the terms, both the companies said on Friday. Last December PPC confirmed it had received a conditional, non-binding merger proposal from AfriSam. Following "extensive discussion" between the two companies, the parties have not been able to reach consensus on the terms ...
Thailand: Holcim sells stake in Siam City Cement
Holcim Ltd today announces that it has sold its entire remaining shareholding of 27.5 per cent in Siam City Cement (Public) Company Ltd (SCCC) in Thailand via a private placement in capital markets. For the sale of its entire remaining stake, Holcim will receive a total consideration of approximately CHF655m (US$626m), which will result in a gain before taxes of approximately CHF365m (US$349m)...
Dangote commences operations in Senegal, Cameroon
Dangote Cement has commenced operations at new cement facilities in Senegal and Cameroon, which form part of the company's plans to become a pan-African enterprise. The new Senegalese plant, located in Pout district, about 75km from Dakar, the country’s capital, has a total production capacity of 1.5Mta. With the new plant, the company hopes to improve the country’s cement productio...
Holcim's No. 2 shareholder reportedly plans to vote against Lafarge merger
Eurocement Holding AG, the second-largest shareholder in Holcim Ltd, plans to vote against the Swiss company's merger with Lafarge SA unless the financial terms of the deal are altered, according to a person familiar with situation. Eurocement, which holds 10.82 per cent of Holcim, believes the terms of the deal continue to undervalue the Swiss company despite a revision of the agreement a l...
Seruji Ltd acquires 60% stake in Savannah Cement
The Competition Authority of Kenya has approved the proposed acquisition of 60 per cent of the shareholding of Savannah Cement Ltd by Seruji Ltd, according to a Gazette notice dated 27 March 2015. Seruji Ltd spokesperson, Alfred Ng’ang’a, said the company has acquired the stake previously held by the pioneer Chinese investors of Savannah Cement . “Seruji Ltd has made a 60 per cent acquisitio...
Dangote Cement pretax profit down 3.2%
Dangote Cement's pretax profit fell 3.2 per cent to NGN184.68bn (US$928m) last year due to a gas shortage and the impact of wet weather on construction activity, the company said on Thursday. The company said sales volumes in its domestic market of Nigeria fell 3.2 per cent to 12.87Mt, weaker than the decline in the overall market of 0.8 per cent to 21Mt. Full-year revenues for 2014 climb...
Buzzi offer to purchase SACCI SpA accepted
Buzzi Unicem announced today that further to its proposed purchase of a 99.5 per cent interest in the share capital of SACCI SpA, controlling shareholders have accepted the binding offer. Last week Buzzi announced that it had Buzzi Unicem is offering €120m for the stake in SACCI and the simultaneous relief of all outstanding liabilities from a previous debt restructuring agreement. Buzzi hi...
Cemex to supply state-of-the-art transit systems in California Bay area, USA
Cemex is to supply structural concrete on two massive, state-of-the-art transit systems in the California Bay Area which, upon completion, are expected to serve more than 61 million people every year. Between 2000 and 2030, 1.25 million new vehicles are expected to enter the Northern California Bay Area -- a 31.5 per cent increase over 30 years. In response, cities and local transportation ag...
Holcim launches upto US$741.4m selldown in Siam City shares
Holcim Ltd on Thursday launched an up to US$741.4m selldown of shares in Thailand's second-largest cement company Siam City Cement PCL (SCCC), IFR reported, citing a term sheet of the deal. Holcim is selling 63.29 million SCCC shares through its Thai Roc-Cem Ltd unit at an indicative range of between THB350 and THB381, putting the total deal at up to THB24.11bn (US$741m), added IFR, a Thomson...
Cementos Argos readies itself for 'vibrant' US market growth
With US demand recovery on a roll, Cementos Argos is readying itself for 'vibrant' growth in the years ahead with the group having consolidated its presence in nine strategic states. Last year, Argos recorded historic overall results in terms of both income and EBITDA, which rose above US$2.9m and US$534m (growth of 17 and eight per cent, respectively). The company reported unprecedented cons...
ARM posts flat full-year pretax profit
Kenya's ARM Cement posted a pretax profit of KES2.02bn (US$22m) for 2014, up one per cent YoY. The cement maker, which also has operations in Tanzania, said its revenue for the period fell three per cent to KES13.74bn, mainly because there was no additional capacity expansion during the period, the firm said. In a statement, the firm predicted that this year would be better, with growth in t...
Hetauda reports accumulated loss of US$6.42m at end-2014
Nepal-based Hetauda Cement Industries Ltd (HCIL) reported an accumulated loss of US$6.42m at the end of its 2014 financial year. "We faced a loss of US$692,829 in 2011-12 and US$95,251 in 2012-13. Our annual loss increased to US$6.42m in 2013-14," said Ramesh Shiwakoti, chief accountant of the state-owned company. Although a HCIL spokesperson said that the company's loss can be partly att...
Sabanci cement unit seeks acquisition opportunities
Turkey-based Sabanci Holding's cement business expects its sales to rise 10-15 per cent this year after posting a 16 per cent increase to TRL2.5bn (US$980m) in 2014, the cement unit's chief executive said. Sabanci's cement arm is also looking for acquisition opportunities and could borrow up to US$1.5bn to fund an acquisition, Hakan Gurdal told Reuters in an interview.
Dalmia Cement (Bharat) reports rise in 3Q volumes
Dalmia Cement (Bharat) Ltd announced its financial results for the quarter ended 31 December 2014, reporting a YoY increase in volumes and income. Income rose to INR7.94bn from INR7.07bn in 3Q14, led by a six per cent rise in volumes to 1.65Mt and a nine per cent increase in sales realisations. Power and fuel costs came down by 16 per cent per cent on a per tonne basis but were offset by inc...