Corporate

09 February 2016

LafargeHolcim nominates new chairman of the Board of Directors

LafargeHolcim announced yesterday that Wolfgang Reitzle, chairman of the Board of Directors, has informed the Board that he will not stand for re-election at the company’s May 2016 AGM. "The Board regrets this decision while acknowledging Mr Reitzle’s wish to pursue other business act...

09 February 2016

LafargeHolcim receives revised divestment order from India

LafargeHolcim has received a revised order from the Competition Commission of India (CCI) to divest its interest in Lafarge India, including three cement plants and two grinding stations with total capacity of 11Mta....

11 February 2016

FLSmidth receives large cement order in Algeria

FLSmidth has signed an EPC (Engineering, Procurement and Construction) contract with a value of more than EUR200m with SARL Amouda Ingineering for the supply of a greenfield cement plant in Algeria. The plant will be...

11 February 2016

Domestic sales drive Pakistan dispatch growth

Pakistan cement dispatches increased by 6.38 per cent to 21.3Mt in the first seven months of the current fiscal compared to 20Mt in the corresponding period of FY14-15, according to the All Pakistan Cement Manufactur...

08 February 2016

Russia's Sberbank sells 6.12% stake in LafargeHolcim

Russia's Sberbank confirmed on Friday it had sold a 6.12 per cent stake in LafargeHolcim to a group of foreign investors. Sberbank acquired a 6.12 per cent stake in LafargeHolcim in January from Eurocement Holding ...

08 February 2016

Cemex outlines 2016 investment spend

Cemex plans to invest US$700m in various maintenance and expansion projects in 2016, according to Fernando González, CEO of Cemex. Of the total sum US$450m will be allocated to plant maintenance while the balance w...

05 February 2016

Cemex reports positive net income for the first time in six years

Cemex announced yesterday that, on a like-to-like basis for the ongoing operations and adjusting for currency fluctuations, consolidated net sales increased by two per cent during 4Q15 to US$3.4bn, and increased five...

05 February 2016

Cemex Latin American Holdings profits drop 65%

Cemex Latin American Holdings saw turnover decline by 17.3 per cent to US$1427.1m and EBITDA dropped by 22 per cent to US$449.8m with the margin declining from 33.5 to 31.5 per cent. The trading profit fell by 41....

08 February 2016

Vicat underlying turnover eases by 4.4%

Vicat's turnover improved by 1.5 per cent in 2015 to EUR2458m, which translates into an underlying decline of 4.4 per cent on a like-for-like basis. Turnover in cement advanced by 0.8 per cent to EUR1495m, or EUR1...

05 February 2016

Reliance Infrastructure to sell cement arm to Birla Corp

Reliance Infrastructure (RInfra) has signed a share purchase agreement with Birla Corp to sell 100 per cent in Reliance Cement Company (RCCPL). The deal values cement business of RInfra at INR48bn. Under the transa...

04 February 2016

LafargeHolcim considering revised divestment plan in India

LafargeHolcim confirmed today that it is considering a divestment of its interest in Lafarge India with a cement capacity of around 11Mta. The divestment would require the approval of the Competition Commission of In...

04 February 2016

CRH and Dalmia expected to bid for Jaiprakash assets

CRH and India's Dalmia Cement are likely to submit separate bids next month for the cement business of Indian infrastructure builder Jaiprakash Associates, two sources with direct knowledge told Reuters. The deal is...

04 February 2016

Russia’s Sberbank reportedly selling LafargeHolcim stake

Sberbank, Russia’s largest lender, is selling a stake in Swiss cement business LafargeHolcim Ltd valued at about CHF1.5bn (about US$1.5bn), Bloomberg reported late Wednesday, citing a termsheet. UBS Group AG is sole...

05 February 2016

Votorantim to invest in Spanish plant

Votorantim Cimentos will invest EUR1.7m in the Toral de los Vados cement plant of its Spanish subsidiary Cementos Cosmos. The investment will fund environmental improvements as well as health and safety initiatives. ...

04 February 2016

Eeva Sipilä to step down as Cargotec CFO

Eeva Sipilä, Cargotec's Chief Financial Officer (CFO) will leave Cargotec to take up the position of CFO at Metso Corporation.   Eeva Sipilä will continue in her current position and as a member of Cargotec's Executi...

03 February 2016

Lafarge not to proceed with US$765.8m Indian deal, Birla says

Lafarge's Indian unit has scrapped an agreement to sell two of its cement units to Birla Corp, the latter  said in an exchange filing. On Tuesday Birla Corp said in a notice to the Bombay Stock Exchange that it ha...