Cement News tagged: Corporate
Titan Cement moves to Brussels listing
Titan Cement International SA has submitted a voluntary tender offer for the exchange of all ordinary and preference shares issued by Titan Cement Co with new share of Titan Cement International SA to facilitate the listing of the Titan Group in the Euronext Brussels stock exchange, one of the largest EU stock exchanges, according to a company statement. However, the cement producer will maint...
Buzzi Unicem continues share buyback
Buzzi Unicem has announced that it acquired 1,116,000 ordinary treasury shares during the 15-19 October period. The company acquired the shares for a total consideration of EUR18,899,938 at an average price of EUR16.9. It now holds 3.085m ordinary shares and 29,290 saving shares as of 19 October, equivalent to 1.51 per cent of the issued share capital.
UltraTech reports 20% increase in net sales
India’s UltraTech Cement has reported an 11 per cent YoY decline in its consolidated net profit for the 2QFY18-19 ended 30 September, falling to INR3.76bn (US$51.29m) from INR4.24bn. However, net sales during the quarter rose 20 per cent to INR81.11bn from INR67.52bn on the back of strong cement volume growth, which increased 21 per cent to 15.1Mt. "Domestic sales volumes jumped 21 per cent ...
Tasek posts 3Q net loss
Malaysia’s Tasek Corp Bhd posted a net loss of MYR5.99m (US$1.44m) in 3Q18 on the back of intense pricing competition as domestic cement demand fell. In 3Q17 the company reported a net profit of MYR1.89m. Rising production costs in its cement and ready-mix concrete businesses and lower interest income further affected the group’s business results. Revenue in the third quarter edged up from MY...
CRH completes Phase 2 of share buy-back
CRH has completed the second phase of its share buy-back programme, returning a further EUR350m of cash to its shareholders. Between 29 August and 18 October, 12.5m ordinary shares were repurchased on the London Stock Exchange and Euronext Dublin at an average discount of 1.3 per cent to the volume weighted average price over the period. This brings total cash returned to shareholders unde...
Construction of Potosí works to hit half-way mark end Oct
Construction of the new ECEBOL cement works in Chiutara, Potosí, had progressed by some 43 per cent by 30 September and is expected to surpass the 50 per cent mark at the end of this month, according to Zubim Andrade, who heads the Sociedad Accidental Imasa Polysius. Civil works such as the building of the administrative facilities have already been concluded with the participation of local ...
Bamburi Cement appoints Grace Oluoch as new FCO
Kenya-based Bamburi Cement has appointed Grace Oluoch as the company’s new finance director. She succeeds Eric Kironde, who has been Bamburi’s FCO since 2011. “The company is pleased to announce the appointment of Grace Oluoch as finance director,” the Nairobi Securities Exchange-listed company said in a regulatory notice Friday. Ms Oluoch has had a long career with consumer goods giant Uni...
Eurocement begins construction of 3Mta facility
Eurocement Group has started the construction of its new 3Mta facility in Uzbekistan. The plant is expected to begin operations in mid-2020 and will represent an US$160m investment. “This production will become the flagship of the cement industry and a powerful support for the growth of the economy of Uzbekistan,” said Mikhail Skorokhod, president of Eurocement Group. Once complete it will...
Cemex to invest US$235m in Philippine expansion
Cemex Holdings Philippines plans to expand capacity at its subsidiary’s facility in Antipolo City, Rizal, at an estimated investment cost of US$235m. Solid Cement Corp has signed project agreements with China’s CBMI Construction Co Ltd for the procurement, construction and installation of the new line, according to a disclosure to the stock exchange. The project is expected to increase capac...
Titan Group tenders Euronext and Athens Exchange listing
Titan Cement company has announced that Titan Cement International has submitted a voluntary tender offer the exchange of all the ordinary shares and preference shares issued by Titan Cement Co SA with new shares of Titan Cement International SA. The purpose of this offer is to have a listing of Titan Group on Euronext Brussels, one of the European Union stock exchanges. The offer includes th...
Adelaide Brighton announces new CEO
Australia’s Adelaide Brighton has announced that Nick Miller will become the company’s new CEO after Martin Brydon leaves the company next year. Mr Miller is the CEO of Broadspectrum, an infrastructure and maintenance service group, and was the managing director of civil construction company Fulton Hogan between 2010-17. Mr Miller is expected to take up the position no later than 17 April ...
RHI Magnesita strengthens management team
RHI Magnesita has appointed Jacqueline Knox, currently Associate General Counsel M&A at VEON, an international telecommunications and technology business, as EVP General Legal Counsel & Company Secretary at RHI Magnesita, effective 1 December 2018. Jacqueline will be based in Vienna and be part of the EMT. "This organisational change within our top leadership team will ensure we are well pos...
ACC reports a 10% rise in net sales
India’s ACC has reported a 15 per cent YoY increase in consolidated profit-after-tax to INR2.4bn (US$32.6m) for the 3Q18 ended 30 September. Net sales rose 10 per cent to INR33.64bn, compared with INR30.54bn seen in the year-ago period. Operating EBITDA was up seven per cent YoY to INR4.44bn from INR4.16bn. Furthermore, the cement sector showed volume growth of 10 per cent. "Demand drivers in...
Sibirsky Cement's cement production falls in 9M18
Russia’s Sibirsky Cement has seen a minor fall in cement production from its three plants in the 9M18, slipping to 2.507Mt from 2.516Mt in the year-ago period. The company’s Topkinsky facility recorded a flat YoY result of around 1.7Mt, while Krasnoyarsky increased its production by three per cent to 268,100t. However, Timlyuysk noted an eight per cent drop to 268,100t. The decline is due to...
Lafarge Africa posts 5% net sales increase
Lafarge Africa has recorded a five per cent increase in net sales for the 3Q18 period, rising to NGN72bn (US$198.3m) from NGN68.8bn. In the 9M18, net sales again advanced five per cent to NGN234bn. The positive performance in the third quarter was mainly driven by strong volume growth in Nigeria and favourable pricing trends in South Africa, according to the company. EBITDA for the 3Q18 was ...
Dangote starts work on Niger plant
Dangote starts work on the construction of a XOF180bn (US$315.8m) cement plant in Keita, Niger, according to the country’s national TV organisation. The new works will also included a 100MW coal-fired power plant. Dangote Cement Niger was granted approval to carry out research on “coal and related substances” on four permits in the region of Agadez (north) and Tahoua. The new cement fac...