Corporate

31 July 2014

Italcementi suffers from a jump in financing costs

Italcementi's first-half turnover declined by six per cent to EUR2048.4m, but the running EBITDA did improve by 2.2 per cent to EUR304.8m. Helped by a 6.2 per cent reduction in the amortisation and depreciation charge, the trading profit improved by 27.7 per cent to EUR99.8m.  A 66.5...

31 July 2014

Buzzi Unicem completes agreement with Wietersdorfer

Buzzi Unicem has completed a strategic agreement with Wietersdorfer initially announced in February this year. Under the terms of the deal, Buzzi Unicem is receiving EUR22m from W&P Cementi for its 0.3Mta cement wor...

31 July 2014

Vietnam July cement production rises 6.5%

Vietnam produced 4.9Mt of cement in July, up 6.5 per cent from both June 2014 and from the year-ago period, the government’s General Statistics Office (GSO) said. In the first seven months, domestic output is likel...

31 July 2014

HeidelbergCement plans to start sale of building materials business in September

HeidelbergCement plans to start the process to divest in its building materials unit in September and expects a quick conclusion of the sale, Reuters reported CEO, Bernd Scheifele, as saying. The exact assets that H...

31 July 2014

SGC second-quarter declines on weaker Thai demand

Siam Cement Group (SCG) reported a 14 per cent decline in second-quarter net profit due in part to weaker domestic cement demand as months of political unrest have delayed spending on infrastructure projects. Profi...

31 July 2014

EC extends deadline for decision on Cemex’s Spanish acquisitions

The European Commission has extended the deadline for its decision on whether to clear or block the deal from 5 September to 12 September 2014. A source told Reuters earlier this month that the Commission ha...

30 July 2014

Holcim anticipates full-year cement volume growth across all group regions

Holcim reported a decline in first-half net profit mainly due to a prior-year gain while negative currency effects take their toll on sales. Cement volumes were up with considerable rises in North America, Africa Mid...

30 July 2014

HeidelbergCement revenue increases despite exchange rate effects

In the first half of the year, HeidelbergCement saw volume growth in all business lines and revenue edged ahead despite a significant negative currency impact. Group revenue rose despite negative exchange rate effe...

30 July 2014

Cementir's growth impeded by the strong euro

Cementir's turnover emerged just 0.1 per cent ahead at EUR472.8m in first half of the year, as the improvement in Denmark and Norway was offset by currency weakness and the continuing decline in Italy. EBITDA, howeve...

30 July 2014

Cementos Molins reports 117% YoY rise in 1H14 profit

Cementos Molins recorded a profit of EUR17.9m in the first half of 2014, effectively more than doubling its 1H13 figure, on the back of its international business, said the company. The cement company increased its...

30 July 2014

Martin Marietta's net profit trebles

Martin Marietta Materials, the fourth-largest US aggregates producer, has announced a first-half turnover 161.9 per cent ahead at US$1097.8m and the EBITDA improved by 23.8 per cent to US$163.8m. The trading profi...

29 July 2014

Holcim Philippines 1H14 net profit up on strong sales

Holcim Philippines booked a net profit of PHP3.32bn (US76.5m) in the first half of 2014, up 8.7 per cent compared to the same period of last year. The country’s largest cement producer registered record sales as co...

29 July 2014

Israel: antitrust authority moves to increase competition

Israel’s antitrust authority is taking steps to introduce competition in the domestic cement market by calling on the country’s dominant producer to make a plant disposal or adjust discounts to its largest customers....

29 July 2014

Chettinad increases holding in Anjani Portland Cement, India

Chettinad Cement Corp has increased its holding in Anjani Portland Cement to 66.08 per cent by acquiring a 17.08 per cent share through an open offer. In March, the company had entered into a share purchase agreem...

28 July 2014

UCC first-half net profit surges, UAE

Union Cement Company (UCC) net profit surged 181 per cent to AED59.4m (US$988,165) in the first half of 2014 compared to AED21.15m in 1H13. In its statement to the Abu Dhabi Securities Exchange UCC said its second q...

28 July 2014

Tvornica Cementa Kakanj first-half net profit increases

Bosnia-based Tvornica Cementa Kakanj (TCK) net profit rose by 6.25 per cent to BAM8.5m (EUR4.3m) in the first half of 2014 compared to BAM8m a year earlier, the company said on Friday. The HeidelbergCement group co...