Economy & Market

Trinidad Cement buyout: CEMEX faces resistance from management

Published

8 years ago

December 25, 2016

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Shareholders of Trinidad Cement Limited (TCL) are being urged to reject an offer by Mexican-based cement giant, CEMEX, to take over the company.
CEMEX had earlier announced plans to take over TCL.
But in a circular, the TCL board of directors has recommended that shareholders reject the TT$4.50 (One Tt dollar = US$0.16 cents) per share takeover bid, noting that the offer price does not reflect the "full commercial value of TCL."
The board argued that the shares of the company have a greater value than the offer price of TT$4.50, which it said was "not fair, from a financial point of view, to the shareholders".
Last week, former TCL Chief Executive Officer, Dr Rollin Bertrand, accused the Mexican-based cement giant of trying to engineering a takeover of the local cement manufacturer since 2014.

Concrete

Shree Cement reports 2025 financial year results

Published

5 days ago

June 17, 2025

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Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

5 days ago

June 17, 2025

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Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

5 days ago

June 17, 2025

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According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/