Cement News tagged: Corporate
Holcim to propose Wolfgang Reitzle to take over as chairman
Holcim's board of directors will propose to the annual general meeting on 29 April 2014 the election of Wolfgang Reitzle as the company's new chairman, to succeed Rolf Soiron. Mr Soiron has been the chairman for the past 11 years and a member of the board of directors for 20 years. The board of directors of Holcim Ltd will also nominate Jürg Oleas for election as a new board member at the A...
India Cements approves scheme of amalgamation
India Cement has informed the Bombay Stock Exchange that its board of directors has approved a scheme of amalgamation of its subsidiaries Trinetra Cement (TCL) and Trishul Concrete Products Ltd (TCPL), effective 1 January 2014, subject to approval from the relevant authorities.
CRH expects 2014 profit growth
Irish building materials major CRH said 2013 represented a trough in its profits and expects growth in 2014 encouraged by improving trends in the USA and signs of stabilisation in Europe. Full-year turnover eased by an underlying 0.3 per cent in 2013 to EUR18,031m while the EBITDA declined by 5.6 per cent to EUR1,475m. The trading profit before charging EUR650m of impairments was down by 1...
Argos: positive developments across the board
Argos, closed 2013 with a strong rise in EBITDA on the back of positive contributions from all its regional divisions. Other highlights for the year were the inclusion of Argos on the Dow Jones Sustainability Index, successful issuance of preferred shares in Colombia and abroad, and new acquisitions to close a successful year for Argos. “2013 was a year that completely transformed this compa...
Maple Leaf Cement first-half revenues rise
Maple Leaf Cement announced profit after tax of PKR1.48bn (US$14m) in the first half of FY14, representing a 10 per cent YoY rise on the same period of the previous year. Revenues increased by eight per cent YoY to PKR8.84bn due to an increase in cement prices which rose by 11 per cent during the period. Cost of sales were also eight per cent higher and, consequently, the company’s gross mar...
Semen Indonesia net income rises 11% YoY
Net income at Semen Indonesia rose 11 per cent in 2013 to IDR5.37trn (US$462m) from a year earlier as the company boosts sales through expansion and strengthens its market position. A 24.5 per cent increase in sales to IDR24.5trn was recorded by Indonesia's largest cement producer last year. Domestic shipments rose 3.2 per cent to 25.4Mt. The surge in sales helped boost market share to 44 p...
Marketfield Asset Management raises Buzzi stake
Marketfield Asset Management LLC has raised its stake in Buzzi Unicem to seven per cent from 5.3 per cent, as discretionary asset management, Italy's stock market regulator Consob said. The transaction was carried out on 10 February 2014. A total 6.64 per cent of the stake is held on behalf of Mainstay Marketfield Fund. Abstracted from an original article in Il Sole 24 Or.
Fujairah Cement profit hit by weaker prices
UAE-based producer Fujairah Cement recorded a AED12m (US$3.3m) loss last year as a weaker pricing environment affected revenue despite higher sales. In a filing posted on the Abu Dhabi Securities Exchange yesterday, the company said revenues were AED588m last year, compared to revenues of AED569m and a gross profit of AED35m the year before. “The market has not increased in our favour,” s...
Semen Baturaja full-year net profit rises 5% YoY
Indonesia state-owned cement producer PT Semen Baturaja recorded a net profit of IDR312bn (US$26.5m) in 2013, up five per cent YoY, Bisnis Indonesia reported. The company will start construction on its new IDR2.9trn factory this year, which is expected to be completed in the fourth quarter of this year. Once completed, capacity is expected to almost double to 3.85Mta from the current 1.85Mta....
Record profits for Holcim Philippines
Holcim Philippines registered record earnings and sales last year amid strong market conditions and effective cost management. Meanwhile, the company has said it will delay the construction of a new cement plant in Bulacan as its Swiss parent reorganises regional operations. “Our company benefited from the good business environment, which has allowed the construction boom to persist and ceme...
India: UltraTech in talks to acquire further Jaypee assets – report
UltraTech Cement is in preliminary talks to acquire the Jaypee Group’s cement assets in Solan, Himachal Pradesh state, according to local media citing two sources familiar with the situation. The assets include an integrated cement plant and a grinding and blending unit. Two European companies were also reported to be in the race to but talks have have failed, one of the two people, a senio...
CRH appoints non-executive director, Ireland
The board of CRH plc announced the co-option to the board of Henk Rottinghuis as a non-executive director. Mr Rottinghuis (58), a Dutch citizen, has a background in distribution, wholesale and logistics. He was until 2010 CEO at Pon Holdings BV, a large, privately held international company which is focused on the supply and distribution of passenger cars and trucks, and equipment for the co...
Pakistan: Fauji Cement boosts 1HFY14 earnings
Pakistan-based producer Fauji Cement Co posted earnings of PKR1.25bn (US$11.92m) in the first half of FY14, up 36 per cent YoY compared to the PKR922m in the comparative period of the previous fiscal. The improved earnings came on the back of better gross profit and reduced finance cots. Revenues rose nine per cent to PKR8.23bn despite a seven per cent decline in volumes to 1.16Mt. Marg...
China expected to announce relief measures to stimulate consolidation
China's State Council is expected to release specific measures to stimulate cement industry consolidation to address three key areas. A report published by China Perspective, states that HSBC anticipates that the government may strengthen financing support for the shakeup, including bank loans and equity placement or bond issuance from secondary market. Secondly, inefficient approval proce...
Lafarge sees improved operational trends in fourth quarter
Lafarge saw a continued improvement in fourth quarter volumes, supported by ongoing growth in most emerging markets, the recovery in the US and stabilising conditions in Europe. Adverse exchange rates continued to weigh on sales which were down two per cent in the final three months of 2013 to EUR3714m, but up five per cent on a like-for-like basis. 4Q EBITDA was down six per cent to EUR...
Buzzi in strategic agreement with W&P Cementi
Buzzi Unicem is paying some EUR22m for a 25 per cent stake in Salonit Anhovo, the leading cement producer in Slovenia with an capacity approaching 1.4Mta and for a 25 per cent interest in Wietersdorfer & Peggauer's Italian subsidiary W&P Cementi. As part of the same deal, Buzzi Unicem is receiving EUR22m from W&P Cementi for the Italian cement major’s 0.3Mta cement works at Cadola (Italy) ...