Cement News tagged: Corporate
CRH changes its segmental reporting structure
Following the significant acquisition activity undertaken during 2015, CRH has made some adjustments to its segmental reporting structure. The LafargeHolcim assets acquired in 3Q15 have been fully integrated into the group and will be reported as part of Europe Heavyside, Americas Materials and a newly created Asia reporting segment in the company's 2016 Interim results announcement on Thursd...
LafargeHolcim 2Q16 results
LafargeHolcim released its second quarterly results today, which reported net sales of CHF7.28bn (US$7.47bn). Adjusted operating EBITDA (excluding merger, restructuring and other one-offs) increased six per cent like-for-like in the quarter to CHF1.7bn (US$1.75bn). Net income increased CHF318m (US$326.5m) to CHF452m (US$464m) for the first half of the year and the group's annual divestment tar...
Siam Cement acquires 65% share in Lafarge Holcim Vietnam
LafargeHolcim Ltd has signed an agreement with Siam City Cement Public Company Ltd f or the divestment of its 65 pe rcent shareholding in LafargeHolcim Vietnam, it said on Thursday. The enterprise value of the deal was CHF867m (US$890.7m), on a 100 per cent basis, the Swiss-French group said in a statement. It said the transaction was subject to customary regulatory and shareholder appro...
LafargeHolcim changes to Executive Committee
LafargeHolcim has announced changes made to the Executive Committee, which reflect the evolution of the group’s portfolio following recent divestments and the transition into its next phase as its closes the integration phase. New appointments are as follows: Paul Casanova will take responsibility for North America, including Mexico (currently responsible for operations in Latin America)...
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 ...