Cement News tagged: Corporate
Canada: McInnis Cement CEO quits after new plant cost overruns
The chief executive officer of McInnis Cement, Christian Gagnon, has stepped down after it emerged that the cost of constructing the company’s new 2.2Mta Port-Daniel integrated plant had gone over budget by CAD450m (US$346m). McInnis’s investment was partly financed by government bodies, including Quebecois provincial authorities and also included a CAD360m (US$277m) loan from the National ...
UK: Breedon looks to the future with Hope
The 200-strong team at the Hope Cement works in Derbyshire celebrated becoming part of Breedon Groupl Plc with a visit from group chairman Peter Tom CBE and group chief executive Pat Ward. They were accompanied by Hope Cement managing director Ashley Bryan, who took them on a plant tour to meet members of staff. Hope cement works is a key asset in the Breedon Group network which has now grow...
Zimbabwe: Future of proposed Charumbira plant remains uncertain
Plans to build a US$50m cement plant in Charumbira have been called into question after it was admitted that the Chinese investor behind the project had yet to submit a feasibility report. The plant is to be built by the Sino Zimbabwe Cement Company, which saw a 15 per cent fall in sales in the first quarter of 2016. According to reports in News Day, provincial administrator Felix Chikov...
Titan to take on Brazilian challenge
Titan Cement Group made an unexpected move this week, buying into Cimento Apodi in Brazil. The Greek-based multinational will form a joint venture t o operate the business with the Dias Branco Group and Titan/Sarkis, Sarkis being a vehicle company 94 per cent owned by Titan. Cimento Apodi, situated in Ceará, northeast Brazil, operates the 1800tpd Quixeré cement plant as well as a 0.36Mt gri...
Siam City Cement targets regional expansion
In the last few weeks, Thailand's second-largest cement producer, Siam City Cement (SCCC), has made a significant series of acquisitions to expand its overseas cement portfolio, including its capture of Cemex Bangladesh , Holcim Lanka and a 65 per cent share of LafargeHolcim Vietnam . A stimulus for the increased acquisition plans came when Holcim sold its shares in the Thai cement prod...
Titan Cement takes US$100m stake in Brazil's Cimento Apodi
Greece's Titan Cement Group has announced that it is to take a 50 per cent equity stake in Companhia Industrial de Cimento Apodi of Brazil. The deal will see Titan invest an estimated US$100m to become joint owner of the company alongside Brazilian conglomerate the Dias Branco Group. Both organisations will acquire a 50 per cent interest in the cement producer. Cimento Apodi is based in ...
LafargeHolcim announce further Chinese sales
LafargeHolcim has, for the second time in a week, announced that it is to sell some of its Chinese assets. Reuters reports that the company is to sell 13 integrated plants and four grinding stations for CHF208m (US$215m). The assets – currently operated by Lafarge China Cement – are to be purchased by Huaxin Cement, in which LafargeHolcim itself has a 41.8 per cent shareholding. Commenti...
Vicat's 1H16 results in the USA continue to improve
Vicat's first half turnover eased by 0.4 per cent to EUR1237m, which amounts to a 4.3 per cent increase on a comparative basis. The EBITDA improved by 2.3 per cent to EUR208m and the margin improved from 16.3 per cent to 16.8 per cent. The trading profit moved ahead by 11.2 per cent to EUR103m, with the underlying margin improving by 16.5 per cent. The net attributable profit improved by 45.7...
Buzzi Unicem increases revenues by 1.9%
Buzzi Unicem announced that its net revenues for the first six months were up 1.9 per cent to EUR1261.3m from EUR1238.2m in 2015, while EBITDA grew by 33.5 per cent, from EUR166.6m to EUR222.5m. After amortisation and depreciation of EUR93.5m (EUR96.5m in the previous year), EBIT was €129m (+€58.9mover 2015) and the six months period closed with a net profit of EUR91.5m, compared to EUR36.4m...
Tunisia: Ciments de Bizerte increases sales by 24.5% in 2Q16
Tunisia's domestic cement sales were up 4.37 per cent in 1Q16, but slumped 5.12 per cent by 30 June 2016. However, Ciments de Bizerte saw its domestic sales increase 65 per cent at the end of 1Q16 and by a further 24.5 per cent at the end of the second quarter. By 30 June 2016, the company's cement sales reached TND33.3m (US$15.1m) an increase of 28.03 per cent over 2015, or by over 65,000...
LafargeHolcim zero fatality rate
Safety Coaching, a safety consultancy firm, has helped LafargeHolcim create safer sites and improve incident reporting. The company established a programme for improving construction safety for projects employing up to 5000 workers. Rob Shore, of Safety Coaching, says, “We’re very pleased with our successful delivery of a variety of training and coaching courses to LafargeHolcim, helping th...
USA: Martin Marietta 2Q16 gross profits up 23%
Martin Marietta Materials, one of the top five US aggregates producers, has announced a first half turnover 11.3 per cent ahead at US$1649.8m and EBITDA rose by 40.6 per cent to US$419.1m. The trading profit jumped by 67 per cent to US$271.5m and after a net interest charge that was 5.4 per cent higher at US$40.3m and other items, the pretax profit jumped by 90.3 per cent to US$240.3m and the ...
Pakistan: Fecto Cement prosecuted over violating national park
Pakistan’s Capital Development Authority (CDA) has announced that it has stripped the Fecto Cement Company of its lease of plant and issued a fine of PKR420m (US$4m), the Express Tribune reports. The move comes after the company was accused of illegally dumping explosives in the Margalla Hills National Park, but also concerns a dispute within the state government itself. In June 2012, Fe...
China: LafargeHolcim to sell stake in Shuangma Cement
LafargeHolcim has announced that it has signed a deal with Tianjin Circle Enterprise Management Centre that would see the Franco-Swiss multinational sell a 55.93 per cent stake in Sichuan Shuangma Cement for CHF507m (US$525m). Subject to shareholder approval, the acquisition is expected to be completed by 4Q16. Following the sale, Lafarge will retain a stake of around 20 per cent in Shuangm...
Italcementi hit by restructuring and impairment charges
Italcementi's first-half turnover declined by 2.1 per cent to EUR2122.6m and running EBITDA was 7.6 per cent lower at EUR300m. Hit by restructuring and impairment charges, the trading profit of EUR113m was turned into a EUR2090.6m trading loss. Net financing costs increased by 3.6 per cent to EUR68.4m, giving a pretax loss of EUR291.1m, compared with EUR57.3m profit a year earlier. At the n...
Qatar Cement signs US$100m deal with Saudi investors
The Qatar National Cement Company has agreed a US$100m financing deal with Samba Financial Group of Saudi Arabia, the Peninsula newspaper reports. The investment deal will be used to part-fund Qatar Cement’s fifth integrated plant, construction of which is already underway at a total cost of QAR950m (US$260m). The new plant will have a clinker capacity of 17,000tpd and grinding capacity of ...