Corporate

24 October 2014

3Q14 results: Cemex’ gearing stands at 157%

During the first nine months of the year, Cemex’ turnover increased by 4.6 per cent to US$11,870.9m while the EBITDA was 1.8 per cent higher at US$2037.1m. The trading profit advanced by 24.2 per cent to US$1150.2m and the net interest charge rose by 11.2 per cent to US$1266.6m. The pr...

24 October 2014

Cementos Portland reports EUR45.3m net loss in 9M14

Spain's Cementos Portland has reported a EUR45.3m net loss in 9M14, a 92.1 per cent increase when compared with the loss noted in 9M13. Turnover fell by 1.6 per cent YoY to EUR406.6m as non-profitable plants were ...

24 October 2014

Saudi Cement 3Q14 profits better than expected

Saudi Cement posted better than expected 3Q14 financial results, beating consensus estimates, according to Al-Rajhi Capital. The cement producer’s net profit grew marginally to SAR232m (US$61.8m) by +1.3 per cent YoY...

24 October 2014

PPC Zimbabwe to invest US$86m in extra capacity

PPC Zimbabwe announced a US$86m investment package in Zimbabwe over the next three years as it expects rising cement demand due to infrastructure projects despite a generally stagnating building sector. The funds are...

24 October 2014

Semen Indonesia starts Tuban WHR plant construction

Semen Indonesia has commenced the construction of a 30.6MW power plant at its Tuban cement works to reduce the company’s electricity costs. Using heat from the cement production process, the waste heat recovery pla...

24 October 2014

Egypt: Arabian Cement’s profit decline 32% in 9M14

Egypt's Arabian Cement made a EGP209.57m (US$29.3m) post-tax net profit for the nine months to 30 September, according to the unaudited standalone financial results. The firm posted EGP309.3m for the same period a y...

24 October 2014

Cemex says no bid on Lafarge-Holcim assets

Mexico-based Cemex has announced it will not make an offer for Holcim and Lafarge assets that are available due to the proposed merger of the two cement giants, said Cemex CEO, Fernando Gonzalez, in a conference call...

24 October 2014

Claassen to replace Tomes as PPC MD

Johann Claassen, former head of domestic operations, is to become MD of South Africa’s PPC. He will replace Richard Tomes who resigned effective Thursday to “pursue other opportunities”. "Johann is a professional e...

24 October 2014

Holcim (Lanka) wins Silver SLIM brand award

Surpassing several high-profile brands from several different sectors and further cementing its place as one of the leading brands in Sri Lanka, Holcim (Lanka) won the prestigious Silver Award as the Turnaround Brand...

23 October 2014

Cemex: Colombia and Panama boost 3Q14 results

Cemex Latam Holdings SA (CLH) reported consolidated net sales of US$1.324bn during 9M14, reflecting a three per cent YoY rise. Net sales experienced a three per rise drop in 3Q14 when compared to 3Q13 as revenues fro...

23 October 2014

Jamaica: Caribbean Cement to start 240,000t Venezuelan shipment

Caribbean Cement Company Ltd (CCCL) has commenced supply of a new 240,000t clinker order to Venezuela. The US$20.5m contract will run over an 18-month period and help boost export revenue from the Rockfort plant. T...

23 October 2014

Siam Cement announces tech investment plan

Siam Cement Group (SCG) has announced it plans to spend THB200–250bn (US$6.1-7.7bn) for a new five-year investment budget for the 2015-2019 period although president and CEO, Kan Trakulhoon said the final sum was exp...

22 October 2014

China: Anhui Conch boosts profits and Gansu Shangfeng Cement invests

Anhui Conch Cement reports that its net profit attributable to equity shareholders for the first nine months of 2014 rose 51.8 per cent YoY to CNY8173m (US$1.3bn). The company’s basic and diluted earnings per share w...

24 October 2014

Aditya Birla Group bids for Lafarge, Holcim units

India's Aditya Birla Group submitted bids on Monday to buy Holcim and Lafarge assets. UltraTech Cement and other Aditya Birla Group companies have put in bids for Lafarge and Holcim plants in Brazil and the Philippin...

23 October 2014

Peru: Cementos Pacasmayo to rebound in 4Q14

Peru’s Cementos Pacasmayo is expected to see a two per cent YoY drop in output volumes in 3Q14, according to investment bank JP Morgan. However, the cement producer is forecast to rebound in the 4Q14 by two per cent ...

22 October 2014

Saudi Cement posts stable 3Q profit

Saudi Cement reported a modest rise in 3Q net profit from SAR229m (US$61m) to SAR232m in the year-ago period, according to a bourse filing. The company attributed the rise to improved efficiencies although quarter...