Cement News tagged: Corporate
Thailand: Siam Cement raises net profit
Siam Cement PCL, Thailand's largest industrial conglomerate, beat market expectations with a 63 per cent rise in quarterly net profit, boosted by better petrochemical margins and a pick-up in domestic cement demand. Domestic cement demand should grow by five to six per cent in the second half after a two per cent rise in the second quarter, as demand from government projects and commercial se...
China: Shanshui Cement turn down share disposal offer
Shanshui Cement's chairman and general manager, Zhang Bin, has told the press that in response to the possible acquisition of company shares from CNBM and Asia Cement China, company shareholders have decided to decline the proposed disposal of shares. China Tianrui became the substantial shareholder of Shanshui Cement in April and proposed a change in the number of members in the board of d...
HeidelbergCement to acquire Italcementi
Eleven days after the completion of the acquisition of Lafarge by Holcim to form LafargeHolcim, HeidelbergCement has agreed to acquire Italcementi, with a combined cash and share issue for the 45 per cent controlling stake held by Italmobiliare. A cash offer of EUR10.60 per share will be made by HeidelbergCement for the remaining shares in Italcementi. This represents a 70.6 per cent premium o...
LafargeHolcim 2H15 roadmap released
LafargeHolcim has announced its roadmap for the second half of 2015 as it releases half-year results for Lafarge SA as well as Holcim Ltd, the predecessor company of LafargeHolcim Ltd. Eric Olsen, CEO of LafargeHolcim, says: “We continue to operate in a demanding global market environment and this has affected our first-half performance. However, as a new company we have hit the ground runnin...
Lafarge EBITDA up EUR52m in 1H15
Lafarge's cement volumes for the second quarter of 2015 were down three per cent due to a fall in export sales as the two per cent volume rise in domestic markets could not entirely offset the decline overseas. Volumes were supported by continuing positive trends in many markets such as Romania, the Philippines, Egypt or Canada while adverse weather limited growth in the United States. There ...
Morocco: Cimar sees 10% net profit rise in 1H15
Ciments du Maroc (Cimar) reported a 7.6 per cent YoY rise in turnover to MAD1.93bn (US$197m) for the first half of 2015. The positive sales figures in Doukkala-Abda region, which advanced by 20.4 per cent, contributed significantly to keep sales stable for the Moroccan cement producer, despite a 1.3 per cent contraction in the domestic market. In addition, the company also benefitted from a...
USA: Essroc acquires slag cement grinding unit from Holcim
Essroc has signed an agreement to acquire the slag cement grinding facility located in Camden, New Jersey, US from Holcim (US). As part of the transaction, Essroc will also obtain Holcim’s cement terminal in Everett, Massachusetts, US. Upon completion of the transaction, Holcim’s staff in Camden and Everett will join Essroc. The acquisition is expected to be completed later 2015.
Ambuja cement 2Q15 profit declines 45%
Ambuja Cements Ltd reported a 45 per cent drop in net profit for the quarter ended June on account of a lower operating profit and a INR220m (US$3.4m) depreciation charge. The company posted a net profit of INR2.2635bn compared with INR4.087bn in the year-ago period. Net sales for the April-June quarter were reported at INR24.9276bn, eight per cent lower from INR27.0635bn reported a year bac...
Vietnam Yen Binh Cement posts VND278bn revenue in 1H15
Yen Binh Cement JSC reported revenues of VND278bn (US$12.74m) in the first half of this year, thanks to its expanding markets. In the period, the firm sold 308,000t of cement and exported 480,000t of clinker, fulfilling 40 per cent of the whole-year target. The firm also contributed VND16bn to state budget in the six-month period. The firm produced 400,000t of cement in the six-month perio...
Yugcement re-elects Supervisory Board chairman Zelano
In an extraordinary meeting on 16 July the shareholders of Yugcement (formerly Olshansky cement plant, Mykolaiv region – part of the Dyckerhoff Group) re-elected Paola Zelano to chair its supervisory board for three years, the company said in the press release. Zelano has occupied the post since February 2014. In addition, the shareholders replaced deputy board member Serhii Dzuzyanyi with ...
Indonesia: Holcim's Tuban II plant will raise exports
PT Holcim Indonesia Tbk is on course to open the new Tuban II plant at the end of 2015 with an investment of US$350m. The new plant will help the company to explore more markets overseas as the combined capacity of Tuban I and II rises to 12.5Mta. PT Holcim Indonesia has a strategy to go after new business in the region. The company will seek to increase market penetration in a number of area...
Trinidad Cement secures US$240m bridging facility
Trinidad Cement (TCL) has signed a US$240m bridging facility made up of two parts, according to Trade Finance. TCL said the loans are required to repay existing debts. The cement manufacturer sealed the loans last month with short tenures. Citi is the main underwriter and Credit Suisse is also participating. One loan is for US$20m with a six-month term, while the other is for US$220m with a n...
China: Asia Cement gives 1H net profits warning
Asia Cement said it expects to record a substantially lower net profit for the six months ended 30 June 2015 as compared with the same period in 2014. The decrease in net profit in first half of 2015 was primarily attributable to the decrease in average selling price of the company's products compared with that of the corresponding period of the previous year. It is expected the interim resu...
Peru: Cementos Pacasmayo expands consolidated EBITDA margin
Peruvian producer Cementos Pacasmayo's consolidated EBITDA increased 8.4 per cent to PEN178.5m (US$59m) in the first half of this year from PEN169.7m in 1H14, achieving a margin of 31.5 per cent compared with 27.3 per cent a year earlier. Net income increased 19.4 per cent to PEN96.5m. Gross margin increased to 43.1 per cent in 6M15 from 40.5 per cent in 6M14. Second-quarter results were...
Pioneer Cement to install WHR plant, Pakistan
Pioneer Cement Ltd plans to install a 12MW waste heat recovery plant at its factory located at Chenki Village, District Khushab in the Punjab province of Pakistan. During the period ended on 31 March 2015, the company produced 736,510t of clinker, a decline of 12.4 per cent (or 104,668t) compared to the 841,178t produced in the corresponding period of last year. Capacity utilisation declined...
UAE: Union Cement Co 1H profit declines 8%
Union Cement Co (UCC) reported an eight per cent decline in its profits for the first six months of 2015 to AED54.7m (US$14.89m), compared to AED59.4m (US$16.16m) in H1-14, the company said in its filing to the Abu Dhabi Securities Exchange (ADX) on Thursday. UCC achieved revenues of AED314.7m during the six-month period in 2015, a decline of 3.7 per cent from AED326.7m in the same period las...