Cement News tagged: Corporate
Tanzania: Banco Products to sell stake in Lake Cement
Baroda-based Banco Products India Ltd, along with its subsidiaries, has decided to sell its Tanzania-based cement unit Lake Cement Ltd for US$17.68m, according to a stock market disclosure. Banco Products acquired a 51 per cent equity stake in the 0.5Mta Lake Cement in July 2010. The name of the buyer has not been disclosed. While Banco Products will be directly selling 3721 equity shares ...
Andres Evertz becomes new Schenck Process CEO
Andres Evertz became Schenck Process CEO on 5 May 2014. He will lead the company in close coordination with the two other Managing Directors, Mike Petkovich and Wolfgang Kleinschmidt. Andreas Evertz has many years of experience in industries relevant to Schenck Process, most recently as an executive board member of the Swedish industrial group Sandvik and many years as CEO of Walter AG, a ma...
Taiwan Cement acquisition deal rejected
Shares of Taiwan Cement Corp (TCC) moved lower on Wednesday after Chia Hsin Cement Corp rejected a deal in which TCC would have acquired all of TCC International Holdings Ltd's outstanding shares, dealers said. TCC owns a majority stake in TCC International Holdings Ltd. Currently, Chia Hsin Cement holds a 15.8 per cent stake in Hong Kong-listed TCC International Holdings and the rejection of...
A trio of producers eye Lafarge Pakistan Cement
A three-way struggle looms for Lafarge Pakistan (LPCL) as Kohat Cement is the latest party to announce its interest in the assets of the only major cement producer in Pakistan. Kohat Cement's interest follows that of DG Khan Cement and Bestway Cement who are both keen on the purchase. The divestment of LPCL follows 'the merger of equals' to establish LafargeHolcim, which will become a giant ce...
HeidelbergCement shows strong recovery in Europe
HeidelbergCement's first quarter turnover improved by 5.7 per cent to EUR2749.8m and the EBITDA improved by 15.7 per cent to EUR228.8m and the trading profit jumped from EUR9.3m to EUR50.4m. The net interest charge increased by 3.1 per cent to EUR134.5m and the pre-tax loss was reduced by 36.6 per cent to EUR104.2m and the net attributable loss declined by 37.7 per cent to EUR146.5m. Capita...
CRH can spend big on acquisitions
CRH Chief executive Albert Manifold was questioned by the Irish Examiner about growth opportunities for the Irish building materials company following the company's AGM in Dún Laoghaire. Albert Manifold said that management would continue to search for opportunities in its core markets of mainland Europe, the Americas and Asia and would have approximately EUR1.5bn available to spend over the n...
HeidelbergCement 1Q14 sales rise by 10%
“HeidelbergCement showed strong operational development in the first quarter of 2014, continuing the positive trend of the previous year,” said Dr Bernd Scheifele, Chairman of the Managing Board. “Europe contributed significantly to the improvement of results due to the mild winter and the positive economic development in our markets. In addition, we were able to implement price increases in s...
Egypt: Arabian Cement to raise US$100m through IPO
Arabian Cement aims to raise US$100m by listing on the Egyptian stock market, according to an official from top MENA investment bank EFG Hermes. The cement company has previously stated that it has set an indicative share price between EGP8.45 (US$1.20) and EGP9.55 (US$1.36). Trading is expected to begin on 21 May. Karim Awad, chief executive officer at EFG Hermes, said he was optimistic ab...
CRH Interim statement 1Q14
According to the CRH 1Q14 interim statement, the company reports that in Europe, the improving trend evident in the second half of 2013 has continued in the first four months of 2014, and the economic backdrop continues to stabilise. This, combined with the absence of the prolonged winter conditions which impacted last year's early season trading, benefited construction activity in most of CRH...
Capital Group buys a 9.25% stake in Anhui Conch
The Capital Group Co spent HKD159.21m (US$20.53m) to acquire 5.55m shares in Anhui Conch Cement Co Ltd on 30 April, sources reported, citing the Hong Kong Stock Exchange. After the purchase, the USA investor holds a combined 120.20m shares (a 9.25 per cent stake) in the Anhui province-based Chinese cement producer.
Lafarge 1Q14 EBITDA up 21%
Lafarge announced that its 1Q14 sales were down two per cent to EUR2633m (up nine per cent like-for-like YoY). EBITDA was stable at EUR343m and current operating income was up 14 per cent to EUR146m. Bruno Lafont, Lafarge chairman and CEO, said: "Our first-quarter results confirmed the positive trends experienced at the end of last year. Our volumes were supported by continuing growth in em...
Invecem awarded limestone and clay concession
Industria Venezolana de Cemento (Invecem) has been granted a licence for limestone and clay exploitation by the state government of Falcón. The 20-year licence will enable the Venezuelan cement producer to increase production by 23 per cent. "The signing of this concession is very important as it will allow us to develop our products in line with the first phase of the expansion project we ...
UltraTech Cement could buy Holcim-Lafarge assets
UltraTech Cement Ltd, India’s biggest cement maker, is considering buying the local assets of Holcim Ltd and Lafarge SA, according to a person with direct knowledge of the matter. “The ready availability of assets may help the Indian firm gain market share without having to build greenfield factories,” said Rashesh Shah, an analyst at ICICI Securities Ltd in Mumbai. Birla’s plan also undersc...
Myanmar Jidong Cement Co to build 5000tpd plant
Myanmar Jidong Cement Company, a subsidiary of China's Tangshan Jidong, has countered claims that local communities in Hpa-an, Karen state, Myanmar, are opposed to the construction of the company's 5000tpd plant in the area. "We have the backing of the locals," he told the Democratic Voice of Burma news service. "Now, we are applying to the Karen State government. After it agrees, we will s...
Pakistan: Kohat Cement Co interested in 76% Lafarge Pakistan stake
Pakistan's Kohat Cement Company announced that it will participate in the bidding process for the acquisition of 1.1bn ordinary shares of PKR10 each of Lafarge Pakistan, representing 75.86 per cent of the total issued and paid-up share capital of Lafarge Pakistan, according to local news service The News. Vision Holdings Middle East, which holds a 47 per cent stake in Pioneer Cement, and DG...
Suez Cement Co invests EGP300m in coal-based power
Egypt's Suez Cement Co announced plans on Sunday to invest EGP300m (US43m) to convert two of its four cement plants to use coal rather than natural gas. The conversion process for each plant will cost around EGP150m, said Mohammed Shanan, the cement producer's business development director. The work is expected to take 6-8 months. Suez Cement is awaiting final approval from the Ministry ...