Cement News tagged: Corporate
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...
PCA announces organisational changes in DC office, USA
The Portland Cement Association (PCA) has announced the addition of Rachel Derby to its Washington, DC staff. Derby will serve as vice president of government affairs, focussing on legislative relationships and advocacy. PCA also announced that effective November 1, A Todd Johnston has been promoted to executive vice-president of government affairs and that Collin Long has been promoted to se...
Lucky Cement plans Punjab plant
Lucky Cement posted a net profit of PKR2.968bn (US$28.2m) during the first quarter ended 30 September 2015, 11.2 per cent higher than the same period of last year. Revenue declined by 1.2 per cent to PKR10.34bn versus PKR 10.47bn a year earlier. The reduction was attributed to a 2.7 per cent in sales volumes which was partially offset by 1.5 per cent increase in net retention due to improve...
West China Cement to acquire Shaanxi-based producer
West China Cement said it agreed to acquire the entire equity interest of Tongchuan Yaowangshan Ecological Cement Co Ltd as well as shareholder's loan at CNY767m (US$121m). Yaowangshan Cement is located in the Yaowangshan region of Tongchuan District, Shaanxi Province. The Yaowangshan cement plant that it operates is primarily engaged in the production and sale of cement, with a 2.2Mta ...
ASEC to sell ASEC Minya Cement, ASEC Ready Mix
Qalaa Holdings announced yesterday that its business unit ASEC Cement has signed a sale and purchase agreement for the sale of its holdings in subsidiaries ASEC Minya Cement and ASEC Ready Mix Co – representing 46.5 and 55 per cent, respectively – to Qena Cement for total consideration of c.EGP1bn (US$124.5m). The financial close is expected to take place on or before 20 November 2015. Qalaa...
Medcem Cameroon starts production
Medcem Cameroon, part of Turkey-based Eren Holdings, has commissioned its new plant in Yaoundé, Cameroon, after delays that saw the unit postpone the start of operations from March to June and October. The company’s output is sold in 50kg bags, which retail at CFA4750 (US$7.97), according to local press reports.
Holcim Philippines reports double-digit rise in net profit
Holcim Philippines’ profits for the nine months of 2015 grew by 12.67 per cent to PHP4.55bn (US$97.2m) from PHP4.04bn last year. Sales reached PHP27.99bn, up 9.44 per cent from a year earlier. Cement demand was healthy nationwide and strongest in the Visayas and Mindanao, driven by both private and public sector demand. Holcim Philippines Country CEO Eduardo A. Sahagun said the company’...
Cementos Pacasmayo EBITDA up 14.4 %
Peru-based Cementos Pacasmayo's consolidated EBITDA in the 3Q15 increased 14.4 per cent to PEN99.6m (US$30.3m) in 3Q15 from PEN87.1m in 3Q14, giving an EBITDA margin of 31.8 per cent versus 27.5 per cent in 3Q14. Revenues fell one per cent from 3Q14. Net income increased 36.5 per cent to PEN55.3m in 3Q15 from PEN40.5m in 3Q14. During the third quarter, the company's Piura cement plant began ...