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Holcim has sold its entire remaining shareholding of 27.5% in Siam City Cement (Public) Company (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 CHF 655 million (approximately €626 million), which will result in a gain before taxes of approximately CHF 365 million (€349 million). Of the 27.5%, 24.9% was acquired by a member of the Jardine Matheson Group, a Hong-Kong-based conglomerate, while

In the full year to 31 December 2014, revenues of Nigerian-based Dangote Cement increased to NGN 391.63bn (€1.81 billion/US$1.97 billion) from NGN 386.17bn in the past year. The company's pre-tax profit, on the other hand, dropped 3.2% to NGN 184.68 billion and sales volume dropped 3.2% to 12.87 million tonnes in Nigeria. Dangote Cement is also expecting capital expenditure to slow from NGN 217.20 billion in 2014 to NGN 191 billion in 2015.

Russian businessman Filaret Galchev, who owns a 10.8% stake in Switzerland's Holcim via Eurocement Holding, has rejected merger terms between France's Lafarge and Holcim, a Swiss newspaper reported on Sunday, Reuters reports. Galchev, Holcim's second-largest shareholder, views the terms as "not satisfactory and half-baked", the Sonntagszeitung reported, citing an unnamed source described as a Galchev confidant. Holcim and Lafarge have agreed a new share-swap ratio that was more advantageous to Holcim invest

The Plantworx Innovation Awards have been announced, and this coincides with the equipment industry’s re-emergence from years of enforced concentration of research and development designed solely to make machines cleaner and greener. The legislation-driven need to reduce emissions and fuel consumption to comply with EU Stage IV regulations tested the innovation muscles of the construction equipment industry, says the event organisers. And some of the results, the development of hybrid-powered excavators, fo

Heidelberg Cement’s 2014 consolidated financial statements show that the group’s revenue rose by 4% to €12.6 billion (like-for-like/+8%); operating income improved by 5% to €1.6 billion (like-for-like/+13%) and operating cash flow increased by €313 million to around €1.5 billion. Profit for the financial year reached €687 million (previous year €933 million, of which €420million was from non-recurring effects), a “considerable improvement in results before non-recurring effects.”Net debt at €6.9 billion do

Mexican cement giant Cemex has so far earmarked around $100 million worth of assets out of the around $1 billion-$1.5 billion it is looking to divest. Chief executive Fernando Gonzalez told journalists the latest position on executing the divestment plan which has attracted big international business media attention since its announcement in February 2015. Gonzalez also said that the company would have more clarity on the asset sales in the second half of 2015.

Earthmoving equipment manufacturer Dressta is launching the first of three new hydraulic crawler dozers later this year, and has ambitious growth plans funded by parent company LiuGong, the Chinese construction equipment manufacturing giant. Guy Woodford reports. Dressta’s trio of new hydraulic crawler dozers represent exciting additions to the dozer market and are the first results of parent company LiuGong’s significant R&D investment in the Polish firm, which it bought in 2012. Being launched in Q3 2015,

DUO Africa was awarded the title ‘Highly Commended Regional Dealer of the Year’ at the Powerscreen World Dealer Conference in Fort Lauderdale, Florida, US. The three-day event from 17-19 March 2015 represented a major gathering of Powerscreen dealers and their customers, and was also a major opportunity for the crushing and screening equipment giant to demonstrate its latest machines and present awards to its most successful dealers over the past year. The latest success for DUO Africa followed its 3rd plac

We are pleased to announce the winner of the Prize Draw that we ran at our booth at the recent World of Asphalt show in Baltimore.

Tanzania Portland Cement Company (TPC) saw a 15% growth in sales in 2014, and a 55% rise in operating profit to US$41.24 million (TZS 76.29 billion). The Tanzanian firm that goes by the brand name Twiga also reported a 47.3% jump in net profit from $20.05 million (TZS 37.64 billion) to $29.53 million (TZS 55.44 billion) on a year-on-year basis.

A new US$300 million cement producing joint venture is to be set up by Nepal-based Shiva Cement and China-based Hongshi Holdings Limited. A total 30% shareholding in the new joint venture company will be held by Shiva Cement, while the remaining 70% shareholding will be owned by Hongshi Holdings. According to Hongshi Holdings' executive vice president Xu Youyuan, 95% of the raw materials to be consumed by the new plant after its operation begins will be obtained from Nepal. The new plant will be using a new

Saudi Arabia’s cement industry is lobbying for the axing of a three-year-old export ban, wishing to supply other countries in the region as well as Ethiopia. Jihad Al-Rasheed, chairman of the Council of Saudi Chambers' cement committee, is reported as saying Saudi firms are ready to ship six million tonnes to Egypt for the recent major infrastructure contracts in the North African country. Qatar's sports facility works ahead of the 2022 World Cup make it a further major potential client. Al-Rasheed is repor