Cement News tagged: Corporate

Cemex recognised for environmental disclosure

13 November 2015, Published under Cement News

Cemex announced that it was ranked second in the Latin American Climate Disclosure Leadership Index, a ranking compiled by CDP that recognises leading companies in the disclosure of data related to environmental and CO2 emissions performance. Cemex earned this honour for its sound sustainability practices and its comprehensive disclosure, which earned a score of 99 out of 100 for the transpa...

Buzzi boosted by strong US performance

13 November 2015, Published under Cement News

Buzzi Unicem's turnover for the first nine months improved by 5.2 per cent to EUR1998.1m while EBITDA rose by 16.4 per cent to EUR352.1m. The trading profit was ahead by 52 per cent to EUR206.9m and net financial charges rose by 65.2 per cent to EUR83.8m. T he contribution from associates increased by 38.0 per cent to EUR50m and the pre-tax profit was ahead by 46.9 per cent to EUR178.9m. Th...

Bestway Cement 1QFY16 turnover jumps 38%

12 November 2015, Published under Cement News

Pakistan's largest cement producer, Bestway Cement Ltd, announced financial results for first quarter from July to September 2015. Turnover on a consolidated basis jumped by 38 per cent from PKR6.8bn to PKR9.4bn (US$89m). This was largely attributed to the acquisition of Pakcem Ltd, an increase in domestic demand and stable retention prices during the quarter. Gross margin of PKR3.7bn gre...

Cementir: good Nordic & Malaysia results

13 November 2015, Published under Cement News

Cementir's turnover for the first nine months of 2015 edged ahead by 0.7 per cent to EUR719.7m as good Nordic and Malaysian performances offset the weakness experienced in Turkey, Egypt and China, while Italy was broadly stable. EBITDA, however, did decline by 1.9 per cent to EUR125.3m and the trading profit came down by 5.7 per cent to EUR63m. After a net financial income of EUR0.6m compare...

 XXIV Cemex Building Award winners announced

XXIV Cemex Building Award winners announced

11 November 2015, Published under Cement News

Cemex announced the winners of the XXIV Edition of the Cemex Building Award at an awards ceremony held in the Colegio Vizcainas, a nonprofit educational institution in Mexico City. This year’s Cemex Building Award received 637 entries in the Domestic Edition and 36 entries in the International Edition. The participants’ buildings were constructed in Colombia, Costa Rica, Croatia, the Dominic...

Jorge Mario Velásquez appointed new Grupo Argos CEO

12 November 2015, Published under Cement News

Grupo Argos’ Board of Directors unanimously appointed Jorge Mario Velásquez as its new CEO, effective March 2016 following the retirement of incumbent chief, José Alberto Vélez.   The selection process was headed by the Committee of Appointments and Retributions of the Board of Directors, mainly formed by independent members, and was supported by a firm specialised in selection of directive s...

Italcementi’s North American and Bulgarian cement volumes ahead, but softer elsewhere

Italcementi’s North American and Bulgarian cement volumes ahead, but softer elsewhere

13 November 2015, Published under Cement News

Italcementi's turnover improved by 3.2 per cent to EUR3217m in the first nine months the year and the running EBITDA was 1.7 per cent ahead to EUR482.9m, while the trading profit eased by 0.4 per cent to EUR165.6m. The net interest charge declined by 14.9 per cent to EUR85.0m and, after other items, the pre-tax profit rose by 31.8 per cent to EUR60.9m in the absence of impairment charges. A...

Cemex says strong dollar may delay higher debt rating

10 November 2015, Published under Cement News

Mexican cement major Cemex said on Thursday that the strength of the US dollar could postpone the ability of the company to win back an investment grade debt rating, according to a report by Reuters. Cemex, burdened with a heavy debt load from its 2007 acquisition of Australia's Rinker, has been focusing on reducing debt in a bid to regain an investment-grade rating by 2018. "The question no...

India: Udaipur Cement Works sees 12.6 per cent YoY gain in Jul-Sep revenues

09 November 2015, Published under Cement News

Udaipur Cement Works reported total revenues of INR214.9m (US$3.24m) , down 4.3 per cent QoQ, but up 12.6 per cent YoY. The company also recorded a net profit of INR15.6m for the quarter ended September 2015, a significant improvement when compared with the previous quarter when a INR14.6m loss was posted as well as with the previous year’s Jul-Sep quarter, which saw a INR15m loss

Egypt: Alexandria Portland Cement Co sees EGP116m loss in 9M15

09 November 2015, Published under Cement News

Egypt’s Alexandria Portland Cement Company reported a EGP116m (US$14.4m) loss in the first nine months of 2015, in an official statement to the Egyptian Stock Exchange (EGX). This compares with a 9M14 profit of EGP71m. The latest results continue the trend noted in 1H15, where the  company recorded losses worth EGP 67.7m, unlike in the first six months of 2014 when its profits stood at EGP...

Plans to convert Binani Cement debt into equity

09 November 2015, Published under Cement News

Lenders to India’s Binani Cement are planning to convert a total debt of INR30bn in the company to equity. The debt-to-equity conversion is being contemplated under the strategic debt restructuring (SDR) guidelines of the Reserve Bank of India (RBI). The consortium of 18 banks led by the Central Bank of India are looking at converting the debt to equity, giving lenders a majority stake. "Th...

Titan performs strongly in the USA

06 November 2015, Published under Cement News

Titan's turnover improved by 18.9 per cent to EUR1029.5m in the first nine months of 2015 and EBITDA was up by 12.6 per cent to EUR165.2m, though in the third quarter EBITDA was ahead by just 3.8 per cent, reflecting the weakness in Greece. The trading profit for the nine months was 17.9 per cent higher at EUR80.5m and, after a 14.6 per cent increase in net financial charges and a positive ...

Moody's upgrades Boral's long-term rating to Baa2; outlook stable

06 November 2015, Published under Cement News

Moody's Investors Service has upgraded Boral Limited's issuer rating and senior unsecured rating to Baa2 from Baa3. The outlook on this rating changed to stable from positive. At the same time, Moody's has upgraded the commercial paper of Boral Limited, Boral Industries, Inc., Boral International Holdings, Inc. to P-2 from P-3 and upgraded the other short term rating of Boral Ltd to P-2 from...

Spain: Cementos Molins 9M net profit rises 38%

06 November 2015, Published under Cement News

Spain's Cementos Molins registered a net profit of EUR41.9m in the first nine months of the year, up 37.6 per cent YoY, according to the company. Total sales reached EUR473m, an increase of nearly 22 per cent YoY while operating profit reached EUR19.07m, advancing 1.9 per cent when compared with a year ago. The “negative result” for Spain was more than offset by its operations abroad, w...

US House of Representatives passes multi-year highway bill

06 November 2015, Published under Cement News

The Portland Cement Association (PCA) has applauded the US House of Representatives for today’s passage of the Surface Transportation Reauthorization & Reform Act (STRRA), a multi-year federal highway bill. With passage of this bill Congress moves one step closer to completing work on vital infrastructure legislation that will help spur economic growth across the country.  The bipartisan meas...

TCL quarterly revenue boosted by higher volumes, clinker exports

06 November 2015, Published under Cement News

Trinidad Cement Ltd's (TCL) revenue rose by seven per cent in 3Q15 to TTD550.1m (US$86.3m) compared to TTD513.7m a year earlier, mainly to increased cement sales volume of 13 per cent in its domestic markets and higher clinker exports. During the second quarter the group was able to successfully refinance the restructured debt with a bridge loan and in so doing, benefitted from prepayment...