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India cement: profits, investigations
India’s biggest cement companies have defied the gloom in the Indian economy and closed the last quarter on the up. In spite of high fuel prices, transportation costs, interest rates, and constricted...
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Indian cement: $536m fine expected
India’s competition watchdog is expected to fine some of the country’s biggest cement manufacturers for price collusion, in a move likely to dampen the industry’s recent profit-making spree. The...
View ArticleIndia: cement collusion fine set at $1bn
The Competition Commission of India (CCI) late on Thursday announced a whopping $1bn fine on 11 major cement companies, by far the largest such penalty it has ever imposed (and nearly twice the amount...
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India cement: staying solid for now
India’s biggest cement manufacturers began the new fiscal year by reporting upbeat quarterly profits this week, breezing along in spite of continuing gloom in the rest of the economy and an...
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Cemex: breathing easier
It’s been quite a week for Cemex. Just one day after the company announced that creditors holding 91.5 per cent of a US$7.3bn loan had accepted a refinancing offer that includes extending maturities by...
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Cemex: shedding more assets
Stick a pin on a world map, and you’re fairly sure to hit one of the 50 countries where Cemex has operations and more than 100 with which it trades. Which is why it is almost anyone’s guess where the...
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Nigeria’s Dangote goes global, with plans to invest in Myanmar, Iraq and...
Africa’s not big enough for Aliko Dangote, Nigeria’s richest man. Dangote is planning to take Dangote Cement, his flagship company, into the rest of the world – starting with Iraq and Myanmar, where...
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Corporate watch: cementing links between Colombia and Little Rock
By Pan Kwan Yuk and Andres Schipani Of all the places in the world to find a cheerleader for the US economy, Colombia is probably not the first country that comes to mind. And yet, a US bull is exactly...
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Carlos Slim’s latest punt: cement
Take one look at Mexico’s corporate landscape, and one of the first conclusions is that each of the business sectors is dominated by one or, more commonly, two groups. The resulting lack of competition...
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Cemex: a step closer to asset sale
Cemex, one of the world’s largest cement producers, on Thursday obtained an important green light along the road back to financial health: regulatory approval to sell a minority stake in its Central...
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Slim, Lafarge team up on cement
Carlos Slim is not one to waste any time. Having only announced three months ago that Elementia, his building materials conglomerate, would enter the cement-making business, the world’s richest man on...
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Cemex Q4: a long slog ahead
According to its vice-president of finance, Fernando González, “2012 was a year of recovery for Cemex”. It was, but the recovery still faces a long slog, judging by the fourth quarter results reported...
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Cementos Argos eyes $1bn share offer
Concrete returns are hard to come by in these troubles times, so Cementos Argos’s $1bn share offering is shaping up to be popular. Colombia’s leading cement producer increased its profits last year by...
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Ambuja Cements battered by parent’s merger plan
Shares in Ambuja Cements, a Mumbai-listed company controlled by Holcim, a Swiss cement maker, dropped a whopping 15 per cent on Thursday before see-sawing wildly. It was about 12 per cent down in...
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Mexico is still Cemex’s Achilles’ heel
So much for cementing a recovery. Cemex, the Mexican cement company that is one of the biggest in the industry in the world, disappointed with another loss in the third quarter that was significantly...
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Cemex: back to square one in Egypt?
Cemex, the Mexican cement giant, is breathing a little sigh of relief. It had been biting its nails ahead of a ruling from an Egyptian appeals court on whether its 1999 purchase, in a privatisation, of...
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Modi’s reforms spell lasting change for the economy of rural India
Narendra Modi, India’s pro-business prime minister, swept to power last year offering a new efficient form of government and a crackdown on the high-level corruption that has weighed on growth for...
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