Cement News tagged: Corporate
Lafarge Malaysia first-quarter pretax profit rises, construction outlook 'positive'
Lafarge Malaysia Bhd's pretax profit for the first quarter to the end of March 2015 rose to MYR99.36m (US$27.6m) from MYR97.19m in the same quarter of last year. Revenue advanced by three per cent to MYR696.09m versus RM676.63m in the same period of last year due to higher cement and concrete sales in the domestic market on the back of market growth, it said in a filing to Bursa Malaysia tod...
Jaiprakash reportedly in talks to sell Bhilai unit to UltraTech
Jaypee Group company Jaiprakash Associates is in talks with UltraTech Cement to sell its 2.2Mta cement plant in Bhilai, Chhattisgarh state, Business Standard report suggests. The Bhilai plant is a joint venture between Jaypee Group (74 per cent stake) and public sector Steel Authority of India (26 per cent). Sources say Ultratech will pay around INR2000 crore in a deal that would lift the co...
Holcim Indonesia seeks IDR2.5trn loans for refinancing
Holcim Indonesia is looking for IDR2.5trn (US$189.59m) in loans to refinance its maturing debts and wants to replace foreign-denominated debt to ease the currency burden, according to reports in the Jakara Post. Kent Carson, Holcim Indonesia CFO, aid that the company, expected to have a new loan facility in place in June, either in the form of syndication or a bilateral facility from a mix ...
Cementos Portland names non-executive president, Spain
Spanish cement maker Cementos Portland has appointed Alicia Alcocer Koplowitz as a non-executive president, the company said in a filing with stock market regulator CNMV. Alicia Alcocer Koplowitz is the daughter of Esther Koplowitz, the owner of Cementos Portland, and has been a vice president of the board of directors of the group so far. Her appointment was unanimously approved by the boar...
CMS Bhd 1Q pretax profit up 44%, Malaysia
Sarawak-based Cahya Mata Sarawak Bhd (CMSB) reported a 44 per cent rise in pretax profit for the first quarter of 2015 to MYR95.01m, driven by its Construction & Materials Trading, Cement and Construction & Road Maintenance divisions. The Cement division reported a pretax profit of MYR29.37m for 1Q15, exceeding the previous year (MYR20.44m) by 44 per cent. The Construction Materials & Tradi...
Lafarge and Holcim reorganise group functions
Lafarge and Holcim are each preparing the reorganisation of group functions in the context of their proposed merger. Holcim’s proposed new organisation would result in a net reduction of approximately 120 jobs in Holcim Group functions in Switzerland. The social consultation process to reduce the impact on roles that are affected by reductions will now be launched with the employee represent...
Weaker Brazil markets depress Cimpor's profits
Cimpor has reported a first quarter turnover 7.4 per cent higher at EUR636.6m but the EBITDA declined by 7.2 per cent to EUR123.4m. The trading profit (EBIT) was 17.6 per cent lower at EUR74m. The net financial charge declined by 18.9 per cent to EUR75.3m to give a pre-tax loss of EUR1.3m, compared with EUR3.1m a year earlier. At the net attributable level there was a loss of EUR17.2m, com...
PPC's first-half revenue lifted by higher Zimbabwe, Botswana and Rwanda volumes
PPC’s group cement sales volumes rose by five per cent above last year's figure, with strong demand growth in its African businesses offsetting lower demand in the core South African business. PPC’s revenue increased by nine per cent to ZAR4541m (2014: ZAR4157m) for the half year ended March 2015, on the back of increased volumes in Zimbabwe, Botswana and Rwanda, as well as the consolidat...
Kaspar EA Wenger is designated chairman of the Board of Holcim (Schweiz) AG
In the framework of the progressing merger between Holcim and Lafarge, Kaspar EA Wenger will become designated chairman of the Board of Holcim (Schweiz) AG, effective 30 June 2015, and hand over his responsibilities as Area Manager for Central Europe (Switzerland, South Germany, Italy). Mr Wenger has been part of the Holcim Group for more than 20 years, including over 10 years of operating ...
Jaiprakash gets shareholder go-ahead to sell to units to UltraTech
Jaiprakash Associates Ltd has received shareholder approval to sell two cement units in Madhya Pradesh to UltraTech Cement Ltd, the company said in a notice to the stock exchanges. In December, Jaiprakash Associates signed a deal with UltraTech Cement to sell its cement units in the central Indian state for INR54bn. The board of directors of UltraTech Cement and the Competition Commission...
Dangote revenues boosted by new capacities
Dangote Cement reported a double-digit rise in first-quarter revenue, boosted by contributions from its new factories in Africa. Group cement sales volumes rose by 3.4 per cent compared to the same quarter of 2014, with volumes from Senegal and Sephaku Cement offsetting a decrease in volumes in Nigeria. Group revenues rose by 10.8 per cent to NGN114bn, mainly due to higher revenues in South ...
Algeria: Lafarge-Souakri plant operational in August
Lafarge Algeria and Souakri’s joint venture, the 2.7Mta Biskra cement works, is expected to deliver its first bag of cement in August 2015, according to Eric Meuriot, head of Lafarge Algeria. Full production is scheduled for 2016. Biskra is the fourth plant operated by Lafarge Algeria, which also owns plants at M’sila (5Mta) and Mascara (3Mta). In addition, the France-based cement producer ...
TCL restructures debt, names new CEO
Trinidad Cement Ltd (TCL) has repaid all its previous lenders, company chairman, Wilfred Espinet, announced alongside Nigel Edwards and new chief executive, Jose Luis Seijo. Espinet said shareholders were updated at a February meeting on some of the board's plans to reorganise the capital structure of TCL and were, at that time, advised that the board had agreed to a set of restructuring...
Cemex to double capacity at Luzon cement plant, Philippines
Cemex announced yesterday that it is undertaking a new US$300m investment in the Philippines involving the construction of a new 1.5Mta line at is Solid Plant in Luzon. The investment will double the capacity of the Solid plant and will represent a 25 per cent increase in Cemex's capacity in the Philippines. With the recent visit of Fernando A. Gonzalez, Chief Executive Officer of Cemex and ...
Eagle Materials helped by addition of oil & gas
Including its share of the jointly-owned Texas Lehigh Cement, the turnover of Eagle Materials for the financial year to the end of March advanced by 18.1 per cent to US$1192.6m. Of this total turnover, cement represented 40.2 per cent, plasterboard accounted for 36.7 per cent, aggregates & concrete for 9.0 per cent, plasterboard liner for 7.3 per cent and oil & gas for 6.8 per cent. The trad...
KHD's first-quarter revenue down, order intake increases
KHD Humboldt Wedag reported a 15.4 per cent decline in revenue for 1Q15 to EUR50.7m compared to the first quarter of the previous year, while the order intake increased but was "still not entirely satisfactory," according to the German equipment supplier. Order intake was EUR58.3m for the January-March 2015 period, higher than the level reached in the first quarter of the previous year (EUR25...