Cement News tagged: Corporate
West China Cement becomes the 6th Chinese company to join the CSI
West China Cement Ltd (WCC) has become the sixth Chinese company to join the Cement Sustainability Initiative (CSI). WCC is the leading cement producer in Shaanxi Province, China, with its headquarters in Xi'an, a key gateway to the western region of China. In recent years, WCC has acted as a consolidator of cement assets in Shaanxi province and has also expanded production into both Xinjia...
China: Anhui Conch Cement chairman retires
Anhui Conch Cement Co said Friday chairman Guo Wensan is resigning as he has reached the retirement age. The Hong Kong-listed company said Vice Chairman Wang Jianchao will assume the chairman's duties until a new chairman is elected by the board.
François Pétry takes helm of Aggregate Industries, UK
Aggregate Industries, part of the LafargeHolcim group, has appointed François Pétry as its chief executive officer, effective 1 December 2015. Pétry joins from his current role as CEO of LafargeHolcim Romania. He has a strong background in quarrying having held the role of General Manager for Aggregates in Holcim France since 2008 and prior to that, held senior roles in infrastructure, const...
China Shanshui begins legal proceedings against two former directors
China Shanshui Cement Group said after trading hours Thursday that it has begun legal proceedings against former directors Zhang Caikui and Zhang Bin for alleged unlawful conduct and breach of fiduciary duties. Both Zhangs have been removed as directors of Shandong Shanshui, a unit of the Hong Kong-listed cement company, and the company has terminated their roles in the company for "their mis...
Reliance may get final bids for cement unit by year-end, India
Reliance Infrastructure is expected to get final bids from the shortlisted bidders for the sale of its cement business by 24 December 2015, according to sources close to the sale process. Last month the company announced it would be divesting of its cement and roads segments to focus on its defence business. In March 2015, Reliance announced it would be acquiring Pipavav Defence & Offshore...
Egypt: Arabian Cement Co reports rise in 9M15 volumes but lower prices
Arabian Cement Co (ACC) of Egypt reported a four per cent decline in revenues to EGP1711m (US$219m) for the first nine months of 2015, due to a 12 per cent decline in prices which was partially offset by a nine per cent increase in volumes. Cost per tonne stood at EGP329/t less than the EGP352/t recorded in 9M14. The cost reduction is due to less imported clinker and enhanced energy efficie...
Cementos Argos names new CEO
The Board of Directors of Cementos Argos has unanimously appointed Juan Esteban Calle as the new CEO of the company, effective 1 April 2016, replacing Jorge Mario Velasquez, who was recently elected as the new CEO of Grupo Argos. Juan Esteban Calle, new CEO of Cementos Argos, effective April 2016 The designation of Juan Esteban Calle was made by the Board of Directors of Cement...
LafargeHolcim CMD: confident message from management
LafargeHolcim hosted a Capital Markets Day (CMD) in London yesterday where management confirmed the group’s CHF8bn 2018 EBITDA target, its capital allocation strategy and FCF focus. During the event, management – led by new CEO Eric Olsen – presented its strategic objectives and approach for unleashing potential to extract maximum value from its portfolio. Top priority for the group is g...
Cemex: senior level organisational changes
Cemex announced today changes to its senior level organisation, effective 1 January 2016. All of the executives named below are current executive committee members: Juan Romero Torres has been ratified as President of Cemex Mexico. Ignacio Madridejos Fernández has been appointed President of Cemex USA. Jaime Gerardo Elizondo Chapa has been appointed President of Cemex Europe. Thi...
Standard & Poor's Ratings puts West China Cement on CreditWatch positive
Standard & Poor's Ratings Services said that it had placed its 'B+' long-term corporate credit rating and 'cnBB' long-term Greater China regional scale rating on West China Cement Ltd (WCC) on CreditWatch with positive implications. At the same time, it placed our 'B+' issue rating and 'cnBB' long-term Greater China regional scale rating on the company's outstanding senior unsecured notes on C...
CEMBUREAU position on COP21
As world leaders convene in Paris to discuss a new binding international climate change agreement aiming at limiting global warming below 2˚C, CEMBUREAU, the European Cement association, said it is closely monitoring the COP 21 negotiations as climate policy is relevant both for the cement manufacturing process as for the use of the downstream product, concrete. With the actions it sets forth ...
Anhui Conch to double West China Cement stake
Anhui Conch Cement Co has agreed to more than double its stake in West China Cement Ltd for HK$4.59bn (US$592m). Conch International Holdings (HK), a wholly owned unit of Anhui Conch, plans to increase its holding in Shaanxi-based West China from 21.17 per cent to to 51.57 per cent, the companies said in a filing to the Hong Kong exchange Friday. If the transaction goes through, Anhui Conch w...
LH says its Australian and New Zealand operations are not up for sale
LafargeHolcim said its Australian and New Zealand operations are not currently on the sale block, according to Bloomberg reports following press speculation at the end of last week. Media reports on Friday suggested that the world's largest cement producer was considering exiting the region with the disposal of its operations in Australia and New Zealand for a potential amount of AUD3bn (CH...
LafargeHolcim reportedly considering Australia, New Zealand exit
LafargeHolcim is believed to be considering an exit from Australia and New Zealand, as part of its strategic portfolio review of non-core assets. Australian investment bankers are said to be trying to secure an advisory role to the company ahead of a potential sale that could be worth up to AUD3bn, according to The Australian Business Review. Talk of the potential Australasian sale emerged w...
Vietnam northern province to divest state stakes in Lang Son Cement
The People’s Committee of Vietnam’s northern province of Lang Son plans to sell state stakes in Lang Son Cement JSC (LCC) at a put-through price is set at VND1380 ($0.06) each plus a margin of 15 per cent, the Dau Tu newspaper reported. LCC has a registered capital of VND58.39bn, of which the committee holds a 43.55 per cent stake, according to CaFef.vn newswire reported.
CPA revises construction outlook
The Construction Products Association (CPA) expects further growth for the UK construction industry, although the latest forecast reflects a downward revision since the summer owing to a slowdown in third-quarter housing and commercial activity. In a statement released earlier this week, the association said construction output is expected to increase 3.6 and 3.8 per cent in 2015 and 2016, re...