Cement News tagged: Corporate
Hail Cement 2Q15 net earnings down 28%
Saudi-based Hail Cement reported net earnings of SAR28.6m during the second quarter of 2015, down 38 per cent compared with SAR46m in the comparative period of last year. Net earnings for the first half of 2015 also slipped 18.44 per cent YoY from SAR81m to SAR66m. The profit decline was attributed by the company to an increase in direct costs due to a decrease in production volume and an in...
Holcim and Lafarge complete global merger
Holcim Ltd and Lafarge SA on Friday completed their global merger and have launched LafargeHolcim, a world leader in the building materials industry. All conditions for the completion of the merger have been fulfilled following the successful completion of the public exchange offer and the issuance of new Holcim shares to Lafarge shareholders. Holcim’s shareholders had previously approved t...
OCC first-half net profit down
Oman Cement Co (OCC) net profit declined by just over 40 per cent in the first half of this year to OMR5.44m (US$14.1m) from OMR9.09m in 1H14, the company said in its filing of initial numbers with the Muscat Securities Market. Revenue declined marginally to OMR25.53m in the first half of this year compared with OMR25.68mn in the corresponding period of 2014. Investment and other income fell...
Holcim Philippines to make offer for local assets of Lafarge
Holcim Philippines will make an offer to acquire the assets of Lafarge Group in the Philippines as part of the merger process between the two cement majors. In a disclosure to the Philippine Stock Exchange (PSE), the local unit of Swiss firm Holcim Ltd. said it has been given the green light by its board of directors to make an offer for the France-based assets of the Lafarge Group. Spec...
LH merger: final results of public exchange offer
France's Financial Market Authority published the final results of the public exchange offer initiated by Holcim Ltd for the shares of Lafarge SA. Following the settlement-delivery of the offer expected to occur on 10 July 2015, Holcim Ltd will hold 252,230,673 Lafarge SA shares representing 87.46 per cent of the share capital and at least 83.94 per cent of the voting rights of Lafarge SA bas...
Holcim: Fontana steps down, changes in Executive Committee
Holcim confirmed today that in connection with the successful public exchange offer and the expected closing of the merger with Lafarge, Bernard Fontana will step down from his position as CEO of Holcim Ltd with the completion of the merger. He will also resign from all mandates in all Holcim Group entities. Mr Fontana said: "It has been a pleasure and honour to work with remarkable and pass...
Paraguay: INC’s kiln returns to normal service
Industria Nacional del Cemento (INC) announced that its kiln at the Vallemi works is back up and running since Tuesday after a six-day stop due to technical issues. At present the company is carrying out a fuel switch that will see the plant operate with petcoke, forest waste and coal among others. The change in fuel will allow INC to save over US$22m. The cement producer said around 40 per ...
SAMSON Materials Handling appoints new MD
SAMSON Materials Handling, part of the AUMUND Group, has appointed Malcolm Youll as its new managing director. Mr Youll will be based at the SAMSON office in Cambridgeshire, UK. Mr Youll brings vast international experience of the capital equipment industry and complex engineered solutions having worked for CNH, CAT and Cargotec, SAMSON said in a statement. His wide range of experience in the...
Torre Reforma: a concrete giant in Mexico City
Even before its official inauguration in late 2015, Torre Reforma, designed by the Mexican architect Benjamín Romano from LBR&A Arquitectos, is already an architectural icon in Mexico. At 807ft and 57 levels, this emblematic corporate building is the tallest in Mexico City. Characterised by both its slimness and strength, the walls that serve as the backbone of the tower were built with Ceme...
Holcim's public exchange offer for shares of Lafarge completed successfully
The public exchange offer made by Holcim Ltd for Lafarge SA has been successful, bringing the merger of the world's two largest cement majors close to completion. The French market watchdog, Autorité des marchés financiers (AMF), said as of 7 July 2015, a total of 252,230,673 shares representing 87.46 per cent of Lafarge's share capital, and at least 81.47 per cent of voting rights of Lafarge...
Conch reduces shareholding in two producers
Anhui Conch Cement has sold its shares in Xinjiang Qingsong Building Materials and Chemicals Group and Tangshan Jidong Cement Co in the April-June 2015 period, according to Reuters. The disposals amounted to a net profit of US$217m, the report added.
CG signs global supply agreement for electrical motors with Lafarge
Avantha Group company CG has signed a global supply agreement with cement major Lafarge for electrical motors. "We are extremely pleased to have entered into this agreement and have CG as a preferred partner for Large Motors. CG’s ability to provide flexible designs, high quality and cost effective solutions were key factors that Lafarge considered while making this decision," said Michel Ed...
Cementos Argos begins to pay 2014 dividends
Colombian cement company Cementos Argos has started paying shareholder dividends corresponding to its 2014 to profits. Common stock shareholders will receive COP44.5/share. Those with preferential shares will receive COP57.75/share. Before 2015 ends, the firm will release dividend payments of COP253.30bn (US$96.06m), from a profit of of COP291.8bn achieved in 2014. Last year's profits wer...
S&P downgrades PPC on increasing debt
Standard & Poor's Ratings Services (S&P) has lowered its long-term South Africa national scale rating on heavy building materials producer PPC Ltd to 'zaA' from 'zaA+'. At the same time, it affirmed the 'zaA-2' short-term South Africa national scale rating on PPC. S&P said it expects PPC’s net financial debt to increase materially over the near-term due to its increased capital expenditure on...
Graymont finalises Holcim NZ lime acquisitions
Graymont has finalised the previously-announced acquisition of two New Zealand-based producers, McDonald’s Lime and Taylor’s Lime from Holcim. “Completion of this acquisition represents a milestone in terms of extending Graymont’s reach beyond North America to serve new customers in select global markets,” stated Graymont President and Chief Executive Officer, Stéphane Godin. “We have g...
Cementos Molins appoints new CEO
Cements Molins has appointed a new CEO, Julio Rodríguez. Mr Rodríguez worked formerly at Schneider Electric and is since 1 July the first CEO outside the Molins family. He is expected to continue the overseas expansion of Cementos Molins. "If there is something we should do, it is to continue the growth plan. With new ideas, new investments, we'll see where, but with the growth plan." Despite...