Cement News tagged: Corporate
Southern Province Cement Line 2 due for end-June completion
Work on Southern Province Cement's second production line at its Bishah plant in Saudi Arabia has been delayed, according to a company statement to the Saudi bourse. The company added that 83 per cent of the project has been completed so far and is scheduled for commissioning at the end of June 2016. The delay does not have any financial impact, the cement producer said.
Cuba: Mártires de Artemisa to produce 142,000t in 2016
Empresa de Cemento Mártires de Artemisa in Mariel, Cuba, is expected to produce 142,000t or some 30 per cent of total domestic cement output this year. Mártires de Artemisa produces P-225 cement and also has started delivering P-350.
Cementir boosted by Scandinavia and Italy
Cementir reported yesterday in its 2015 preliminary figures that improved performances in Scandinavian countries and Italy, plus a stable contribution from the Far East group area offset lower earnings in Turkey and Egypt. Revenue from sales and services amounted to EUR969m, up 2.2 per cent YoY thanks to the sound performance of operations in Scandinavian countries, Malaysia, Italy and Egypt...
Boral reports increase in underlying net profit after tax
Boral reported a 23 per cent increase in net profit after tax before significant items to AUD137m (US$97m) for the six months ended 31 December 2015, reflecting improvements in margins, stronger housing activity in the US and continued strength in its home market of Australia. Boral’s reported net profit after tax of AUD137m was 31 per cent higher than the previous corresponding period, wit...
Attock Cement first-half profits up by 12.5% YoY
Pakistan-based Attock Cement earned a 12.5 per cent rise in profit after tax of PKR1152m (US$11m) in the first half of 2016 compared to PKR1024m reported in the comparative period of the previous year. Net sales were virtually flat at PKR6396m against PKR6368m a year earlier. Distribution costs fell to PKR2241m from PKR4371m. In the 2Q16 alone, Attock reported earnings of PKR671m as com...
Algeria: Aïn Kebira receives stock exchange go-ahead
Aïn Kebira, a subsidiary of Groupe Industries de Cimenterie d’Algerie (GICA), has received the approval of the Algerian Commission of Stock Exchange Organisation and Surveillance (COSOB) to list its shares on the Algiers Stock Exchange. The introduction is scheduled to take place between 1 and 30 April 2016 by means of a capital increase. A total of 11.864m new shares will be offered at a p...
Martin Engineering names new COO
Robert Nogaj has been named Chief Operating Officer (COO) of Martin Engineering. Mr Nogaj will be responsible for all facets of the company’s business, including R&D, manufacturing, sales, marketing and finance. With 22 years of experience in bulk materials handling, he has previously served Martin Engineering as Vice President of Operations from 2001-15.
Change in LafargeHolcim leadership in India
LafargeHolcim announced yesterday that Martin Kriegner, currently Area Manager Central Europe, will be appointed Head of India, effective 1 March 2016. He will report to Eric Olsen, Group CEO, and succeed Bernard Terver who has decided to retire. Martin Kriegner joined LafargeHolcim in 1990 and has previously held several senior leadership positions in the group, including CFO and CEO of gro...
Fitch affirms Siam Cement at 'A(tha)', Outlook Stable
Fitch Ratings (Thailand) Ltd has affirmed The Siam Cement Public Co Ltd's (SCC) National Long-Term Rating at 'A(tha)', National Short-Term Rating at 'F1(tha)' and its senior unsecured debentures at 'A(tha)' with a 'Stable' outlook. Fitch notes that SCC's strong operating cash flow led to an improvement in credit metrics in 2015. EBITDA increased to above THB70bn (US$1.98bn) which saw FFO (Fun...
Martin Marietta Materials reports record full-year net sales and profitability
Martin Marietta Materials Inc reported its results for the 12 months to the end of December 2015 with record full-year net sales and profitability. Consolidated net sales in 2015 reached US$3.3bn from US$2.7bn a year earlier. Gross profit climbed to US$721.8m from US$522.4m in 2014. Ward Nye, chairman, president and CEO of Martin Marietta, stated: "For the full-year 2015, we achieved reco...
New Holcim Romania CEO appointed
Sofiane Benmaghnia has been appointed the new CEO of Holcim Romania, effective 1 April 2016. He replaces François Petry who took over as CEO of Aggregates Industries, the UK subsidiary of the recently-formed LafargeHolcim group. Algerian-Canadian Mr Benmaghnia joined LafargeHolcim in 1999 as a financial analyst. Since then, he has built his career within the group, working in several markets ...
Mexico: Holcim launches new cement
Holcim México has launched a new cement, Holcim Fuerte, on the local market. The product is targeted at the self-construction and housing sector. The new product offers a 30 per cent improvement in terms of mixing and placing, a 10 per cent higher performance and 50 per cent less cracking, according to the company. Holcim has invested around MXN133m in developing the latest addition its...
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 activities that will require his fullest attention, in particular the chairmanship of the Linde Supervisory Boa...
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. " The proposed transaction is an alternate remedy for the merger of the group's legacy companies and now forms part of the company's CHF3.5bn (US$3.54bn) divestment target in 201...
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 located in El Beida (Laghouat), approximately 400km from the capital Algiers. The order includes engineering, equipment supplies, construction, commissioning and training. On...
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 Manufacturers Association. The increase is attributed to robust growth in domestic dispatches, which rose by 15 per cent YoY to 17.9Mt. Exports, on the other hand, declined by almost a qua...