Cement News tagged: Corporate
ACC quarterly profit down 45% on subdued demand, India
Indian cement major ACC Ltd reported a 45.1 per cent drop in consolidated net profit for the second quarter of the calendar year to INR133.5 crore on the back of challenging market conditions and subdued demand. Consolidated total income of the company fell by 2.1 per cent to INR3,037.1 crore in April-June 2015 quarter from INR3103.2 crore in the same quarter of 2014 fiscal, it added. The co...
Monthly construction output up by 0.3% in euro area
In May 2015, seasonally-adjusted production in the construction sector rose by 0.3 per cent in the euro area (EA19) and fell by 0.3 per cent in the EU 28, according to the first estimates from Eurostat, the statistical office of the European Union. In April 2015, production in construction dropped by 0.2 per cent and 0.6 per cent, respectively. In May 2015 compared with May 2014, production ...
Three firms reportedly submit bids for LH eastern India assets
Three contenders have submitted binding bids to acquire LafargeHolcim's (LH) Indian cement assets in Jharkhand and Chhattisgarh, according to local press reports. CRH Plc., HeidelbergCement India Ltd and Baring Pvt Equity Asia have submitted the final bids for the assets with a combined capacity of 5Mta, two persons familiar with the development told Live Mint (India). "The bids have come i...
QNCC net profit edges ahead, Qatar
Qatar National Cement Co's (QNCC) net profit rose by 1.97 per cent to QAR242.6m (US$66.6m) for the first half of this year compared to QAR237.9m in the comparative period of 2014. The company reported earnings per Share (EPS) of QAR 4.49 in 1H15 compared to QAR 4.40 a year earlier. Established in 1965, QNCC is the dominant producer in Qatar with a 55 per cent market share. The firm produces ...
LafargeHolcim buys out 50% interest in Lafarge Tarmac as part of divestment process
As part of the preliminary steps to implement the disposals required by the European Commission for its approval of the merger to create LafargeHolcim and as previously announced, the group today completed the acquisition of the 50 per cent share in Lafarge Tarmac held by Anglo American for GBP992m (including changes in working capital). This step is required to allow for the full divestment ...
Holcim France to be renamed Orsima under CRH
As of 1 August 2015, the former French subsidiary of Holcim, now owned by CRH, will be renamed Orsima. With the acquisition of Holcim France, resulting from the merger between Holcim and Lafarge, CRH will have a market share of around 15 per cent in the country. The Ireland-based company now owns the three integrated cement works of Lumbers, Heming and Rochefort-sur-Nenon, the four grindi...
Elementia raises MXN3.93bn with IPO, Mexico
Mexican construction holding Elementia raised MXN3.93bn (US$250.15m) with its initial public offering (IPO) on 9 July 2015. The company set an initial price of MXN17 per share and obtained resources 15 per cent below the estimated target of MXN 5.20bn. The maximum share price reached MXN18.50 which resulted in a net sum of MXN 3.77bn obtained, which will be invested in Fortaleza, the com...
Kuwait Portland Cement Co earnings down 10% YoY
Kuwait Portland Cement Company earned KWD5.2m in the first half of this year (US$17.2m), or 55.1 fils per share, compared to KWD5.8m (61.12 fils per share) in the comparative period of 2014. The company said in a statement, posted on the Kuwait Stock Exchange website, that its total assets reached KWD82.34m, liabilities KWD17.48m in the 1H15, compared to KWD15.15m in 1H14.
Lafarge China launches tender offer for Shuangma Cement
Sichuan Shuangma Cement said its controlling shareholder Lafarge China plans to launch a tender offer for its shares from other shareholders except Lafarge Shui On (Sichuan) Investment for CNY5.64 each, or CNY1.07bn in total. The tender offer is triggered by the merger between Lafarge and Holcim and is pending relevant approval.
Saudi producers' 2Q net profit drops
Saudi Cement reportedly dropped an 11.8 per cent in net profit for 2Q15 to SAR254m, from SAR288m in 2Q14. It attributed the fall in net profit to lower local sales without elaborating. Another Saudi producer, Najran Cement made net earnings of SAR77.8m in the second quarter ended 30 June, falling 7.77 per cent from SAR84.3m in the year-earlier period. The profit decline was mainly attributa...
TPIPL to issue debentures to refinance debt
TPI Polene Plc (TPIP), Thailand's third-largest cement-maker, says it will issue five tranches of THB17bn (US$497m) worth of unsubordinated debentures to retail and institutional investors next month, with coupon rates ranging between 4.1-5.2 per cent, the Bankok Post reports. Chief executive Prachai Leophairatana said the first lot would be a three-year debenture carrying a coupon rate of 4....
Tank Connection: President and CEO transition
Tank Connection (TC) announced their President & CEO, Bill Neighbors will be stepping down in September. The company has just crossed the 500 employee mark and announced earlier this year their transition as an ESOP, employee owned company. Mr Neighbors states: “This has been my personal plan for some time, but I also wanted to make sure that the right pieces were in place for Tank Connect...
LafargeHolcim officially launched around the world
LafargeHolcim today officially launches the new Group around the world and announces key elements of its ambitions for the future. Following the successful completion of the merger between Lafarge and Holcim and the listing of the new LafargeHolcim shares in Zurich and Paris, the new Group will now work towards creating the highest performing company in the building materials industry, the ...
Raysut Cement reports 30% drop in 1H profit
Raysut Cement reported a net profit of OMR10.97m (US$28.5m) for the first six months ended 30 June when it was OMR15.59m in the same period last year, a decline of 29.7 per cent, the company said. On a quarterly basis, net profit fell by 18 per cent to 4.94 in the 2Q15 from OMR6.03m in the first quarter. Revenue stood at OMR46.83m, dropping by 5.4 per cent from OMR49.5m. On a sequential b...
Carthage Cement sees 2014 rise in sales but 1Q15 slips
Carthage Cement experienced a positive start to 2014 although faced a more challenging market environment in the second half of the year, according to the company’s 2014 annual report. In 2014, Carthage Cement produced 1.346Mt of clinker and 1.022Mt of cement. While in the first five months, Tunisia’s cement market experienced growth, from June onwards, this decelerated and stalled. As a res...
LafargeHolcim starts trading on SIX in Zurich and Euronext in Paris
Following the successful completion of the merger between Holcim and Lafarge, LafargeHolcim today starts trading on the SIX Swiss Exchange in Zurich with the ticker symbol LHN and on Euronext in Paris, joining the Swiss Market Index (SMI) and the CAC 40 index (replacing Lafarge S.A.) respectively. The combined entity has a total market capitalisation of around CHF41bn (EUR39bn) per 13 July 201...