Cement News tagged: Corporate
Oman Cement’s new mill on target for 4Q15
The installation of a new cement mill at the Rusayl complex of Oman Cement Company will be completed by the fourth quarter of this year, chairman of the board, Dr Abdullah Abbas Ahmed, told the Oman Daily Observer. The plant will increase production by an additional 150tph following the completion of the new expansion, he stated. The infrastructure supporting the cement silos and bulk dispatc...
Holcim sees continued growth in the USA
Holcim's first quarter turnover declined by 2.8 per cent to CHF3972m (€3699m), but on a like-for-like basis, there was a 1.6 per cent reduction while measured in euros the turnover was ahead by 10.7 per cent. Operating EBITDA declined by 3.9 per cent to CHF593m (€552m). The trading profit was down by 11.5 per cent to CHF261m (€243m), while the net attributable profit jumped by 289.3 per cent ...
Eurocement backs Holcim-Lafarge merger
Eurocement Holding AG, Holcim Ltd's second-largest shareholder, said it supports the Swiss cement maker's planned merger with Lafarge SA . "Having analysed all advantages and disadvantages of a possible creation of the biggest global construction materials player we think that the prospective of the development of the combined company is very positive, so we will support the merger," Euroceme...
Semen 1Q profit hit by lower prices
Indonesia's biggest cement producer, PT Semen Indonesia Tbk, posted a 8.5 per cent drop in first-quarter net profit from a year earlier on the back of lower selling prices and weaker domestic demand. The state-owned company reported net profit of IDR1.19trn (US$91.82m) for the three months ended March, down from IDR1.30trn for the corresponding period a year earlier. “The company’s perf...
Shree net profit down on weaker sales, India
Shree Cements on Wednesday reported a 46.39 per cent dip in standalone net profit at to INR1.198bn (US$18.8m) for the third quarter that ended on 31 March 2015 due to a decline in sales. The company had registered a net profit of INR2.225bn for the corresponding period a year ago, it said in a filing to the Bombay Stock Exchange. Total turnover of the company dropped 5.31 per cent to INR15.7...
Fauji Cement first-quarter profit up 32%
Pakistan-based cement producer Fauji Cement Company Ltd (FCCL) has announced a net profit of PKR981.951m (US$9.65m) for the quarter ended 31 March 2015, a rise of 32 per cent from PKR744m a year earlier. Revenue for the quarter under review stood at PKR4.426bn compared to sales of PKR4.3bn in the same period of last year, a company spokesperson said. For the nine-month period ended 31 March...
Conch's 1Q15 earnings fall 31%
Anhui Conch reported 1Q15 net profit of CNY1.7bn (US$274m), down 31 per cent YoY. Sales declined 11 per cent YoY driven by almost a 20 per cent decline in average selling prices. Due to the weak seasonal recovery in cement price, Jefferies expect 2Q15 earnings could decline 30 per cent year-on-year as well. "Seasonal recovery in cement price has been happening slower than expected due to w...
Libya Holdings Group to buy out Asamer interest in LCC
Benghazi-based Libya Holdings Group is to acquire Austrian majority owner Asamer in the Libyan Cement Company (LCC), according to reports in the Libyan Herald. Asamer bought into LCC when it was privatised in 2008 paying LYD200m for a 50.6 per cent share. The remaining equity was held by the Economic and Social Development Fund. Ten percent of the ESDF’s shares were supposed to be distributed...
Asia Cement issues profit warning, China
Asia Cement (China) said it expects to record a substantially lower – over 95 per cent – net profit for the first quarter of 2015 compared with the same period of last year. The expected decline is being primarily attributed to the decrease in average selling price of the company's products compared versus that of last year. Its quarterly results announcement will be issued by the end o...
Peru: Unacem sees slight rise in 1Q15 sales
Unacem saw its domestic cement sales increase by 0.3 per cent in the first three months of 2015, compared to the same period in 2014. The company recorded cement sales of PEN449.4m (EUR132.69m US$144.20m) in 1Q15. Sales costs also dropped 2.6 per cent compared to the first quarter of 2014, when leftover stocks of imported clinker were used which were more expensive. Clinker production dslipp...
Shree completes acquisition of Jaiprakash grinding unit, India
Shree Cement has completed the acquisition of a cement grinding unit of Jaiprakash Associates in Haryana state, India. “The acquisition of a 1.5Mta cement grinding unit of Jaiprakash Associates Ltd, situated at Panipat, has been consummated on April 27, 2015 for an aggregate consideration of INR358.22 crore,” Shree Cement said in a filing to the Bombay Stock Exchange yesterday. Completion of...
China Resources Cement 1Q15 attributable profit drops 14% YoY
China Resources Cement said its profit attributable to owners for the three months ended 31 March 2015 dropped 14 per cent YoY to HK$660m (US$85m). Basic earnings per share were HK$0.101. Turnover was HK$6202m, a decline of 8.7 per cent from a year earlier. The consolidated gross margin for the reporting period was 25.9 per cent, representing a decrease of 5.9 percentage points from 31.8 per ...
Holcim and Lafarge receive EC approval for CRH as buyer of divestment assets
The European Commission has cleared under the EU Merger Regulation the proposed acquisition of several assets of Holcim and Lafarge by Irish building materials manufacturer CRH. The Commission concluded that the transaction would raise no competition concerns, in particular because the merged entity will continue to face sufficiently strong competition after the merger and customers will have ...
UltraTech full-year net profit down 6% YoY
India’s largest cement manufacturer UltraTech Cement reported a six per cent drop in its net profit for the year ended 31 March 2015 to INR20.15bn versus INR21.44bn in the previous year. Net sales were 13 per cent at INR22,656 crore against INR20,078 crore in the previous year. The Aditya Birla group firm noted that although there was some relief from softening coal prices, the cost of lim...
New Caribbean Cement GM appointed
Cemex executive Alejandro Vares has been appointed general manager of Caribbean Cement Company Ltd (CCCL), replacing incumbent head Anthony Haynes, effective 4 May 2015. Vares will leave his position as Interim Country Manager of Cemex Costa Rica to join the Rockfort, Kingston-based cement producer, Caribbean Cement said in a press release. The appointment was approved by the Board of...
CRH Group Finance Director to assume Global Group Transformation role effective January 2016
CRH plc announces that Maeve Carton, Group Finance Director, will lead a new strategic group function within CRH, commencing on 1 January 2016. As Group Transformation Director, Maeve will identify and implement the optimum financial and business model for the Group in the years ahead. In this new role, Maeve will drive improved shareholder returns by identifying further synergies, efficien...