Cement News tagged under: Ciments du Maroc
Ciments du Maroc to acquire Atlantic Cement and Cimsud29 July 2019, Published under Cement NewsCiments du Maroc has announced it has signed an agreement with Anouar Invest for the acquisition of two cement companies, Atlantic Ciment and Cimsud. Atlantic Cement is currently building an integrated cement plant in Settat province. Cimsud has a 0.5Mta grinding unit at Laâyoune. The acquisition is expected to be completed in the second half of this year and is subject to meeting several conditions. |
HeidelbergCement reduces its stake in Ciments du Maroc22 February 2019, Published under Cement NewsAs part of its action plan to optimise its portfolio and improve cash generation, HeidelbergCement is its reducing stake in Ciments du Maroc. HeidelbergCement announces the sale of around 1.1m shares, representing 7.8 per cent of Ciments du Maroc's share capital, for an aggregate amount of approximately EUR140m. The shares were sold to Moroccan institutional investors through an off-market block trade. Following this transaction, HeidelbergCement retains a controlling stake of 54.6 per ce... |
Ciments du Maroc Board appoints new MD01 February 2019, Published under Cement NewsThe Board of Ciments du Maroc, owned by HeidelbergCement via the Italcementi group, has appointed Matteo Rozzanigo as new managing director, effective 1 February 2019. He replaces Hakan Gurdal who remains as Board Director East Africa and Mediterranean Basin. A graduate of the Polytechnic University of Milan, Italy, he has held several posts in Italcementi since 2007, including MD of FYM, the Spanish subsidiary. From 2016 he has worked as Development Director Southwest Europe for Heidelber... |
Ciments du Maroc reports 1H turnover down 4%24 September 2018, Published under Cement NewsCiments du Maroc posted a 1H18 turnover of MAD1.94bn, a 4.2 per cent decrease when compared with the same period in 2016. The sales volume of the company and its subsidiary Indusaha fell 2.6 per cent with domestic demand 2.9 per cent over the period. The gross operating surplus was MAD1bn, up 9.3 per cent as operating performance improved. Operating income rose faster than EBITDA (+12.5 per cent) to MAD739m. Net profit was down 5.1 per cent to MAD573m. |
Government institution sells 35,500 shares in Ciments du Maroc05 March 2018, Published under Cement NewsThe Moroccan Capital Markets Authority (AMMC) has announced that the Abu Dhabi Fund For Development (ADFD) has sold 35,517 Ciments du Maroc shares to the central market at a unit price of MAD1660 (US$180.5), decreasing the ownership threshold to five per cent, reported Morocco World News. As a result of this transaction, which took place 21 February 2018, ADFD now holds 691,160 Ciments du Maroc shares, or 4.79 per cent of the capital, according to a statement from Casablanca’s stock excha... |
Ciments du Maroc posts 20% rise in net profit22 September 2017, Published under Cement NewsCiments du Maroc reported consolidated sales of MAD2.029bn in 1H17, up 1.1 per cent YoY. Consolidated EBITDA remained stable at MAD929m. Net profit advanced by 19.8 per cent from MAD503m in 1H16 to MAD603m one year later, mainly due to a reduction in taxes. The company said sales reflected the annual slide in sales volumes during Ramadan which saw deliveries fall 6.9 per cent when compared with 1H16. Nationally, cement volumes decreased 9.2 per cent. However, a significant rise in exp... |
Ciments du Maroc posts net loss of MAD-155m08 March 2017, Published under Cement NewsCiments du Maroc announced a MAD1.2bn (US$118.7m) improvement in its net loss to MAD-155m in 2016. Operating income reached MAD1.292bn in 2016, a 9.8 per cent increase when compared with the previous year. The fall in losses is due to the increase in the weighted average cost of equity and to an impairment provision of the company’s stake in Suez Ciments of MAD1.253bn. In addition, the company's domestic sales edged up by 0.7 per cent, bucking the overall market trend which slipped 0.... |
Nabil Francis new Managing Director of Ciments du Maroc02 September 2016, Published under Cement NewsThe Board of Directors of Ciments du Maroc has appointed Nabil Frances as new Managing Director, replacing Mario Bracci as of 1 September. Mr Francis was first employed by Italcementi Group in 1998 and has filled several positions of responsibility in France, Sri Lanka, Egypt and Bulgaria. Since 2013 he headed up the Zuari Cement Ltd subsidiary in India. |
Morocco: Ciments du Maroc cancels Safi wind farm project07 June 2016, Published under Cement NewsCiments du Maroc, an Italcementi subsidiary, has abandoned plans to construct a wind farm at its Safi site on Morocco’s Atlantic coast, SeeNews Renewables reports. The company will instead explore the possibilities of buying in energy from local suppliers. Co mmenting on the decision, CEO, Mario Bracci, said: "Today, different opportunities exist and a number of supply contracts are being offered to us." Mr Bracci added that Ciments du Maroc was considering a deal with Nareva, an ener... |
Ciments du Maroc sees rise in 2015 net profit04 March 2016, Published under Cement NewsCiments du Maroc, part of the Italcementi group, posted an 8.5 per cent rise in turnover to MAD3.73bn (US$376m) in 2015. Cement sales advanced 1.2 per cent while ready-mix concrete and aggregate sales increased by 38 and 30 per cent, respectively. The company’s operating result improved by 14.8 per cent to MAD1.17bn and net profit was up 34.5 per cent to MAD1.02bn. |