Cement News tagged: Corporate
New appointments at McInnis Cement, Canada
McInnis Cement has announced two new members of its management team for the Port-Daniel-Gascons cement plant currently under construction in the Gaspesie region of Canada. Alexandre Rail has been named plant manger plant manager of the new works, with the position effective immediately. "We are pleased with our recruitment of an experienced manager in the heavy industry who shares our value...
Ash Grove Cement names new VP and CFO
David Meyer joins Ash Grove Cement Co as vice president and chief financial officer Ash Grove Cement Company announced David G Meyer is joining the company as its vice president and chief financial officer in the company’s headquarters in Overland Park, Kansas, USA. In his new role, Mr Meyer will direct accounting, treasury, internal audit, tax and information technology functi...
India Cements posts third-quarter net loss
India Cements Ltd posted a net loss for third quarter, compared with a profit a year ago, dragged down by muted cement sales in the south. The Chennai-based firm posted a net loss of INR116.8m, compared with a net profit of INR4.2m a year ago. The company registered flat revenue growth at INR10.359bn crore for the three months to December as against INR10.365bn crore a year ago. CSK ...
Tajikistan ratifies agreement on new plants
Tajikistan's lower chamber of parliament on Wednesday ratified an investment agreement signed between Tajikistan and Chinese cement producer Huaxin for the construction of two greenfield plants. With a combined production capacity of 2.2Mta, the two plants will be built in Bobojon Ghafurov district and Danghara Free Economic Zone, said Lochin Fayzulloev, first deputy chairman of the State C...
Buzzi Unicem sees improvements in the USA and Czech Republic
Buzzi Unicem's turnover eased by 0.1 per cent last year to €2506m, but ignoring the exchange rate effect there would have been a 3.4 per cent improvement. Net debt at the end of December was 3.1 per cent below the level seen a year earlier at €1063m. Group cement deliveries in 2014 increased by 1.8 per cent to 25.1Mt and ready-mixed concrete deliveries improved by 1.4 per cent to 12Mm³. ...
HeidelbergCement update on Managing Board structure
The Supervisory Board of HeidelbergCement AG has decided to amend the structure of the Managing Board with the position of a deputy chairman. Effective 1 February 2015, Dr Dominik von Achten, member of the Managing Board in charge of the North America Group area, Group Purchasing and the Competence Center Materials, has been appointed deputy chairman of the Managing Board. Also on 1 Februa...
HeidelbergCement volumes boosted by North America, UK and new capacities
Preliminary full-year results from HeidelbergCement show improvements in sales volumes, revenue and operating income despite negative exchange rate effects, leading the company to describe 2014 as the most ‘successful year since the financial crisis.’ Despite significant exchange rate effects, the group’s revenue increased by four per cent to EUR12.6bn (+8 per cent on a like-for-like basis) ...
Cementos Argos in expansion mode
Cementos Argos will be expanding its business in 2015 with investments of over US$400m, according to Jorge Mario Velásquez, president of Argos. He added that 2015 will be crucial for the company as it initiates a very important decade in the economy of US: “In the next 10 years in the US will see significant growth of the economy, it will be a dynamic decade, especially in the cement market...
Holcim (Switzerland) to extend Gabenchopf quarry
Holcim plans to expand the Gabenchopf quarry in Villigen, Switzerland, to the west to yield around 12Mt of rock. The step is designed to maintain operations for the next 10 years at the company’s Siggenthal works. The cement works has drawn upon Gabenchopf for its supply of limestone and marl since 1955. The raw materials are transported to the plant via a 3.7km-long conveyor belt. The curr...
Lafarge opens new building materials distribution centre, Algeria
Lafarge opened a new building materials distribution centre at M’Sila on 3 February 2015. "This new distribution centre is part of Lafarge Algeria’s business strategy to get closer to the end user and make a full range of high-quality products available at stable prices," said the company in a press statement. Lafarge operates two cement plants in Algeria - one in M’Sila and a further one ...
Cemex’ US EBITDA rises by 65% and trading loss almost eliminated
Cemex' turnover improved by 3.2 per cent in 2014 to US$15,708.5m and the EBITDA advanced by 3.7 per cent to US$2740.5m, while the trading profit rose by 12.3 per cent to US$1275.6m. The net interest charge rose yet again and was up by 4.3 per cent to US$1608.4m, while the pre-tax loss was reduced by 53.2 per cent to US$124m and the net attributable loss emerged 39.8 per cent lower at US$507...
Titan subsidiary acquires EBRD stake in ANTEA Cement
Titan Group subsidiary Αlvacim Ltd has acquired the 20 per cent stake held by the European Bank for Reconstruction and Development (ΕBRD) in ANTEA Cement, a Titan Group subsidiary in Albania. As a result of this purchase, Titan Group holds 80 per cent of ANTEA’s share capital, whereas the remaining 20 per cent is held by the International Finance Corporation (IFC).
Cementir increases profit and reduces debt
Cementir Holding's turnover in 2014 declined by 4.1 per cent to EUR948m, but at constant currencies there would have been a 5.3 per cent increase. The EBITDA, however, improved by 13.4 per cent to EUR192.4m, in spite of negative exchange rate movements though it was boosted by non-recurring credits of around EUR12m. As a result, the margin improved from 17.2 per cent to 20.3 per cent, or to ...
Vulcan’s EBITDA grows by 28 per cent
Vulcan Materials' turnover increased by 8.1 per cent in 2014 to US$2994.2m and the EBITDA rose by 28.1 per cent to US$99.7m. After a net interest charge 20.2 per cent higher at US$242.7m, there was pre-tax profit of US$298.8m compared with a US$3.7m loss in 2013 and at the net level there was a jump from a US$24.3m profit to US$204.9m. Capital expenditure, which had jumped from US$93.4m to ...
CRH: climbing the building materials ladder
News that CRH has beaten off competition to acquire a package of assets from Lafarge and Holcim ahead of their planned merger has been welcomed by the market, but not everyone is convinced by the rationale and apparent shift in strategy. CRH confirmed on Monday that it had “entered into a binding agreement to acquire certain assets currently owned by either Lafarge and Holcim that the...
Cemex LatAm 2014 turnover declines, consolidated sales rise
Cemex Latin American Holdings saw turnover decline by 1.4 per cent to US$1725m during 2014 and EBITDA decline by 8.84 per cent to US$577m with the margin declining from 36.2 to 33.5 per cent. The trading profit came down by 7.9 per cent to US$478.4m and after a 20.5 per cent drop in financial expenses to US$90.4m and other items, the pre-tax profit did improve by 4.1 per cent to US$419.1m. ...