Economy & Market

Cemex sells $1 billion bond to repay debt

Published

14 years ago

March 1, 2011

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Cemex, a leading cement producer, said that it had sold $1 billion in seven-year bonds to help pay 2012 debt and avoid a repayment bottleneck. The notes to mature in 2018 will pay a coupon of 9 per cent and are callable after their fourth anniversary. Cemex said in a filing with the US Securities and Exchange Commission it was offering a private placement sold only to qualified institutional buyers and to offshore investors. In a further statement, the company said the funds were in part meant to reduce short-term refinancing risk. Monterrey-based Cemex, one of Latin America’s top publicly-traded companies, also said it won approval from its bankers last month to use money from bond placements to prepay commercial paper maturing in 2012. Fitch Ratings assigned a B-plus/RR3 rating and added that the money raised would be used to repay debt, while Standard and Poor’s gave ‘B’ rating.

Concrete

UltraTech Cement boosts capacity with new clinker line

Published

11 hours ago

April 21, 2025

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UltraTech Cement has commissioned a 3.35 million tonnes per annum (Mt/yr) brownfield clinker line and one of two 2.7Mt/yr cement grinding mills at its Maihar facility in Madhya Pradesh. The second mill is expected to be operational in Q1 of FY2026. The company has also expanded its Dhule (1.2Mt/yr) and Durgapur (0.6Mt/yr) grinding units and inaugurated its first bulk terminal in Lucknow with a 1.8Mt/yr handling capacity.

Concrete

Ambuja Cements gets a new CEO

Published

11 hours ago

April 21, 2025

Roshna

Ambuja Cements has named Vinod Bahety as its CEO for a three-year term, following Ajay Kapur’s elevation to Managing Director. Bahety, formerly the company’s CFO, brings over 25 years of experience in finance and manufacturing, including a previous role as Group Head of M&A at Adani Group. Other key appointments include Rakesh Tiwary as CFO, Madhavi Isanaka as Chief Digital Officer, Vaibhav Dixit as Manufacturing Head, and Ashwin Raikundaliya as Chief Sustainability Officer.

Image source:www.exchange4media.com

Concrete

Dalmia Bharat reaches 49.5 MTPA with Rohtas expansion

Published

11 hours ago

April 21, 2025

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Dalmia Bharat has successfully achieved its FY25 production capacity target of 49.5 million tonnes per annum (MTPA). This milestone was reached following the commencement of commercial production at its Rohtas Cement Works (RCW) in Bihar, where an additional 0.5 MTPA capacity has been added from March 30, 2025.
The expansion, which involved an investment of `96 crore, boosts the Rohtas plant’s total capacity to 1.6 MTPA. This development underscores the company’s continued focus on strengthening its presence in eastern India and aligns with its long-term goal of scaling total capacity to between 110 and 130 MTPA by the year 2031.
Puneet Dalmia, Managing Director and CEO, Dalmia Bharat, shared, “The Eastern region holds immense promise, and this expansion is a reflection of our commitment to contribute meaningfully to its infrastructure growth. Reaching the 49.5 MTPA mark is a key step in our journey towards sustainable and strategic expansion.”