Cement News tagged: Corporate
Spain: Cementos Molins 9M net profit rises 38%
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
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
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...
HeidelbergCement 3Q15 revenue rises 3% YoY
HeidelbergCement reported a three per cent rise in group revenue to EUR3.6bn in the first three months of the ‘despite partly adverse market conditions,’ the company said in a statement today. The German cement major said that excluding consolidation and exchange rate effects, revenue decreased by 1.9 per cent. While the effects from changes in the consolidation scope to the amount of EUR23m ...
Kumar Mangalam Birla appointed as Vice Chairman of Century Textiles
Kumar Mangalam Birla, chairman of the US$40bn Aditya Birla Group, has been appointed as Vice Chairman of Century Textiles and Industries. KM Birla is grandson of 94-year-old BK Birla, chairman of Century Textiles. In a filing to Bombay Stock Exchange, Century Textiles said that the decision had been taken at a meeting of the company’s board of directors. For the quarter that ended on 30 Se...
Reliance Infrastructure to sell its cement business, India
Reliance Infrastructure on Wednesday said it has decided to sell its cement manufacturing and road development businesses to focus on defence. "The 5.8Mta cement business and related assets will be disposed off through a formal process. The company has short-listed seven potential buyers from a total of 15 parties that submitted preliminary expressions of interest," according to the company. ...
Karen Moses to join the Board of Boral Ltd
Dr Brian Clark, chairman elect of Boral, yesterday announced that Karen Moses has been appointed as a non-executive Director of Boral Limited, effective 1 March 2016. Ms Moses, who is currently Executive Director, Finance & Strategy, at Origin Energy, is expecting to retire from Origin after February 2016. She joined the Board of Origin Energy as an executive Director in 2009 and did not se...
CHI: impact of industry M&A activity on recruitment process and candidate market
Chad Harrison International (CHI), the global permanent solution specialist and executive search consultancy provider for the building materials, cement, aggregate, and industrial minerals sectors, has launched the first of its Quarterly Market Insight reports, outlining the impact of recent industry merger and acquistion activity on the recruitment process and the candidate market. The...
Vicat advances well in the USA but France, Italy and Africa weaken
Vicat's turnover for the first nine months of the year improved by 1.9 per cent to EUR1883m, which represents an underlying decline of 5.3 per cent. The gearing level was reduced from 46.8 per cent at the end of September last year to 43.7 per cent this time. Turnover in cement was 2.5 per cent higher at EUR1,157m, which represented 53.9 per cent of the group total. Cement deliveries declin...
US: Summit Materials reports 3Q rise in volume and prices across all lines of business
Summit Materials net revenue increased 22.4 per cent to US$426.3m in the third quarter of 2015, compared to US$348.1m in the same period a year earlier. The increase in net revenue was primarily attributable to an increase in volumes and price across all lines of business, led by the West and Central regions. Net revenue grew organically by US$4.7m, or 1.3 per cent, compared to the prior ye...
JK Cements reports 58% fall in 2Q net profit
India-based JK Cements reported a 58 per cent fall in consolidated second-quarter net profit to US$2.09m. However, its total standalone income rose by five per cent to US$133m for the three months ending 30 September 2015. The company's total expenses grew to US$122m from US$11.7m. The company has an installed grey cement capacity of 10.5Mta.
Moody's: West China Cement's ratings unaffected by Yaowangshan acquisition
Moody's Investors Service says that West China Cement Ltd's (WCC) acquisition of Tongchuan Yaowangshan Ecological Cement Co Ltd (unrated) will not affect WCC's Ba3 corporate family or senior unsecured ratings. Ratings outlook stable On 1 November 2015, Yaobai Special Cement Co., Ltd. (unrated) – WCC's indirectly owned subsidiary – entered into an agreement with China Jiantou Trust Co, Ltd (...
Martin Marietta Materials expects aggregates prices to improve by some 8%
Martin Marietta Materials, with a full year’s contribution from Texas Industries (TXI) increased turnover by 28.2 per cent to US$2695m in the first nine months of the calendar year while EBITDA advanced by 54.7 per cent to US$542m. The trading profit rose by 74.3 per cent to US$342.1m and the net interest charge rose by 27.6 per cent to US$57.4m. The pre-tax profit advanced by 94.2 per cen...
Cemex completes Austrian & Hungarian disposals
Cemex announced yesterday that it has closed the sale of operations in Austria and Hungary to the Rohrdorfer Group for approximately EUR160.1m. The transaction was originally announced on 12 August 2015. The Austrian operations consist of 24 aggregate quarries (approximately 6.47Mt of aggregates sold in 2014) and 34 ready-mix plants (approximately 1.6Mm3 of ready-mix sold in 2014). Cemex's op...
Egypt: SCG reports 18% drop in 3Q revenue
Suez Cement Group of Companies (SCGC) reported an 18 per cent decrease in revenues for the third quarter of the year versus the same period in 2014 and 12 per cent for the first nine months. The company said that during this period the market demand experienced a limited growth (2.1 per cent for the quarter, 1.6 per cent for the nine months). Combined with a steep reduction in exports, a...
Pakistan: Fauji Cement first-quarter earnings rise
Fauji Cement Co Ltd (FCCL) announced corporate earnings for the quarter ended 30 September where the company posted profits of PKR1.102bn (US$10.5m) against PKR601.96m a year ago, a company statement said on Thursday. "The result outperformed the market forecast for the quarter on the back of lower-than-anticipated cost of goods sold and financial charges," Faizan Ahmed at JS Global Capital s...