Cement News tagged: Corporate
China: Asia Cement reports 1H16 loss
Asia Cement (China) has released trading figures for the half of 2016, which reveal that the company made a loss of CNY64.6m (US$9.7m) for the period, ET Net reports. In the same six months in 2015, the company had made a profit of CNY9.85m (US$1.5m). The loss comes on the back of revenues that were down seven per cent YoY to CNY2.8bn (US$420m). The fall in profitability was attributed t...
Saudi Arabia: cement firms come under pressure
Saudi Arabia’s cement activities continue to come under pressure as falling sales volume and profitability remain subdued. Companies’ operational performance was impacted due to lower than estimated average realised price on the back of stiff competition, especially in the central region in 2Q16, coupled with the impact of lower fuel subsidy, reports Al Rajhi Capital. Saudi Cement and Southe...
LafargeHolcim India head joins Executive Committee
LafargeHolcim made the decision to induct Head of LafargeHolcim India, Martin Kreigner, into the Executive Committee of the group, giving him additional responsibilities in southeast Asia. Mr Kreigner will be based out of Mumbai. These recent changes to the executive committee reflect the group and its portfolio’s evolution following divestments and integration, LafargeHolcim said in in a s...
India: Mangalam Cement returns to profit with 1QFY16-17 results
Mangalam Cement, part of India’s Birla Group, has published its business results for the first quarter of FY16-17. These see the company return to profit after reporting a loss of INR205m (US$3m) in FY15-16. In the three months to June 2016, Mangalam Cement made a profit of INR226m (US$3.4m) as compared to an INR205m (US$2.8m) loss in the same period last year. Total revenues were up by ...
India: JK Cement quarterly results
Compared to its performance in the corresponding quarter last year, JK Cement Ltd reported significant growth in both net profit and net sales. The company reported a standalone net profit of INR608.5m (US$9.1m)for the quarter ended 30 June 2016, in comparison to just INR10.5m (US$157,275) last year according to a BSE filing made by JK Cement. The company’s net sales increased to INR8.87bn ...
CRH changes its segmental reporting structure
Following the significant acquisition activity undertaken during 2015, CRH has made some adjustments to its segmental reporting structure. The LafargeHolcim assets acquired in 3Q15 have been fully integrated into the group and will be reported as part of Europe Heavyside, Americas Materials and a newly created Asia reporting segment in the company's 2016 Interim results announcement on Thursd...
LafargeHolcim 2Q16 results
LafargeHolcim released its second quarterly results today, which reported net sales of CHF7.28bn (US$7.47bn). Adjusted operating EBITDA (excluding merger, restructuring and other one-offs) increased six per cent like-for-like in the quarter to CHF1.7bn (US$1.75bn). Net income increased CHF318m (US$326.5m) to CHF452m (US$464m) for the first half of the year and the group's annual divestment tar...
Siam Cement acquires 65% share in Lafarge Holcim Vietnam
LafargeHolcim Ltd has signed an agreement with Siam City Cement Public Company Ltd f or the divestment of its 65 pe rcent shareholding in LafargeHolcim Vietnam, it said on Thursday. The enterprise value of the deal was CHF867m (US$890.7m), on a 100 per cent basis, the Swiss-French group said in a statement. It said the transaction was subject to customary regulatory and shareholder appro...
LafargeHolcim changes to Executive Committee
LafargeHolcim has announced changes made to the Executive Committee, which reflect the evolution of the group’s portfolio following recent divestments and the transition into its next phase as its closes the integration phase. New appointments are as follows: Paul Casanova will take responsibility for North America, including Mexico (currently responsible for operations in Latin America)...
Canada: McInnis Cement CEO quits after new plant cost overruns
The chief executive officer of McInnis Cement, Christian Gagnon, has stepped down after it emerged that the cost of constructing the company’s new 2.2Mta Port-Daniel integrated plant had gone over budget by CAD450m (US$346m). McInnis’s investment was partly financed by government bodies, including Quebecois provincial authorities and also included a CAD360m (US$277m) loan from the National ...
UK: Breedon looks to the future with Hope
The 200-strong team at the Hope Cement works in Derbyshire celebrated becoming part of Breedon Groupl Plc with a visit from group chairman Peter Tom CBE and group chief executive Pat Ward. They were accompanied by Hope Cement managing director Ashley Bryan, who took them on a plant tour to meet members of staff. Hope cement works is a key asset in the Breedon Group network which has now grow...
Zimbabwe: Future of proposed Charumbira plant remains uncertain
Plans to build a US$50m cement plant in Charumbira have been called into question after it was admitted that the Chinese investor behind the project had yet to submit a feasibility report. The plant is to be built by the Sino Zimbabwe Cement Company, which saw a 15 per cent fall in sales in the first quarter of 2016. According to reports in News Day, provincial administrator Felix Chikov...
Titan to take on Brazilian challenge
Titan Cement Group made an unexpected move this week, buying into Cimento Apodi in Brazil. The Greek-based multinational will form a joint venture t o operate the business with the Dias Branco Group and Titan/Sarkis, Sarkis being a vehicle company 94 per cent owned by Titan. Cimento Apodi, situated in Ceará, northeast Brazil, operates the 1800tpd Quixeré cement plant as well as a 0.36Mt gri...
Siam City Cement targets regional expansion
In the last few weeks, Thailand's second-largest cement producer, Siam City Cement (SCCC), has made a significant series of acquisitions to expand its overseas cement portfolio, including its capture of Cemex Bangladesh , Holcim Lanka and a 65 per cent share of LafargeHolcim Vietnam . A stimulus for the increased acquisition plans came when Holcim sold its shares in the Thai cement prod...
Titan Cement takes US$100m stake in Brazil's Cimento Apodi
Greece's Titan Cement Group has announced that it is to take a 50 per cent equity stake in Companhia Industrial de Cimento Apodi of Brazil. The deal will see Titan invest an estimated US$100m to become joint owner of the company alongside Brazilian conglomerate the Dias Branco Group. Both organisations will acquire a 50 per cent interest in the cement producer. Cimento Apodi is based in ...
LafargeHolcim announce further Chinese sales
LafargeHolcim has, for the second time in a week, announced that it is to sell some of its Chinese assets. Reuters reports that the company is to sell 13 integrated plants and four grinding stations for CHF208m (US$215m). The assets – currently operated by Lafarge China Cement – are to be purchased by Huaxin Cement, in which LafargeHolcim itself has a 41.8 per cent shareholding. Commenti...