Cement News tagged: Corporate
SCCC 4Q14 profit declines
Siam City Cement Co (SCCC) reported a decline 4Q14 profit after as its margin was further squeezed by higher power costs and a maintenance shutdown and weak domestic demand. Thailand’s second-largest cement procure posted a 4Q14 normalized profit of only THB642m (US$19.7m), down 26.5 per cent YoY and 39.6 per cent QoQ. The results are attributed to 1) lower domestic demand, but volumes were ...
Vicat increases cement shipments by 13.7%
Vicat's turnover improved by six per cent in 2014 to €2423m, which translates into an underlying increase of eight per cent on a like-for-like basis. Turnover in cement advanced by 13.7 per cent to €1261m, or €1483m before deducting inter-group transfers. Aggregates and concrete sales declined by 1.8 per cent to €860m, while other activities saw turnover edging ahead by 0.3 per cent to €...
Eagle Materials net profit rises by 37.8%
Including its share of the jointly-owned Texas Lehigh Cement, the turnover of Eagle Materials for the first nine months to 31 December, rose by 19.1 per cent to US$941.2m. The trading profit before corporate overheads increased by 33.7 per cent to US$246.9m, of which cement contributed 39.1 per cent. The trading profit improved by 32.5 per cent to US$220.3m. After a net interest charge 15.3...
CRH strikes deal to acquire €6.5bn Holcim and Lafarge assets
CRH has reached a deal to acquire €6.5bn in the assets of Lafarge and Holcim who are restructuring to win regulatory approval for their planned merger. The deal will significantly expand CRH’s globally footprint in the cement industry by acquiring new facilities in the Philippines, Canada, Brazil and several countries in Europe. Commenting on the acquisitions, CRH chief executive Albert Manif...
MP visits Lafarge Tarmac Dolyhir and Gore quarries, UK
Lafarge Tarmac welcomed Roger Williams CBE Member of Parliament for Brecon and Radnorshire, to Dolyhir and Gore Quarries to understand more about the economic and community benefits to his local constituency. As joint chairman of the All Party Parliamentary Group for Minerals, Mr Williams is well versed on the importance of minerals to the national economy and the local teams were delighted...
FLSmidth concludes Cembrit sale
FLSmidth has now successfully closed the divestment of Cembrit to Solix Group AB, to sell all shares in Cembrit Holding A/S at a price of DKK1.1bn (enterprise value on a debt-free basis). Cembrit is one of the leading distributors and manufacturers of fibre-cement products in Europe. The deal was initially announced in mid-January 2015 and concludes FLSmidth's divestment of building mate...
CRH withdraws from aerated concrete in Poland
The Polish CRH subsidiary Grupa Ozarow has now received Polish competition authority approval to sell its aerated concrete subsidiary Grupa Prefabet SA to the Danish aerated concrete producer H+H International. The deal values Grupa Prefabet at just over €14m and the move is aimed at reducing the fragmentation in the highly competitive Polish aerated concrete market.
India Ratings reaffirms Long-Term Issuer Rating to HeidelbergCement India
Credit rating agency India Ratings and Research has reaffirmed Long-Term Issuer Rating of 'AA-' with stable outlook to the HeidelbergCement India. The rating indicates the high degree of safety regarding timely servicing of financial obligations and very low credit risk. HeidelbergCement Inida has production facilities at Damoh (Madhya Pradesh state), Jhansi (Uttar Pradesh), Ammasandra ( Ka...
Johnston named PCA Government Affairs Vice President
PCA named A Todd Johnston as vice president for government affairs, effective 19 January 2015. Based in the association's Washington office, he will represent PCA and its members with the federal government. Johnston comes to PCA with a strong record of experience and accomplishments in state government, industry, and in Congress, the association highlights. Most recently, he served as staff...
PPC cautions on half-year earnings
South Africa's biggest cement maker, PPC, advised yesterday that its earnings in the six months to the end of March 2015 may fall by as much as 45 per cent partly due to rising finance costs. The company said in a trading statement released yesterday that it headline earnings per share for the six for the first half of the fiscal year is expected to be between 25 and 45 per cent lower than ...
Siam Cement 4Q profit projected to dip, positive 2015 outlook
Siam Cement is expected to report lower 4Q14 earnings as a result of an inventory loss in its petrochemical unit and the impact of the economic slowdown. Going forward, a promising outlook for petrochemicals and growth revival in cement demand are among factors to watch this year. Maybank Kim Eng Securities (Thailand) forecasts net income is projected to fall one per cent QoQ and six per cent...
UltraTech quarterly revenue rises 15% YoY
India's largest cement producer, UltraTech Cement, reported a 15 per cent YoY increase in net sales for the quarter ended 31 December 2014 to INR54.9bn. Earnings before interest depreciation and tax for the three months was up 14.5 per cent to reach INR9.9bn, but profit after tax (PAT) dipped 1.6 per cent to INR3.64bn, compared to the same period of last year. For the first nine months of t...
Ecuador: Peru’s Cementos Yura buys stake in Unión Cementera Nacional
Cementos Yura, part of Peru’s Grupo Gloria, has acquired a 63.5 per cent share in state-owned Unión Cementera Nacional of Ecuador, which will hold the balance of shares. The $230m investment will be disbursed to the Ecuadorian cement producers via a trust over the next 40 months, during which the construction will take place of a new 2400tpd clinker production line in Riobamba. "We will...
Dongwu Cement placement of new shares
China-based Dongwu Cement said it agreed to place up to 40 million new shares at HK$1.3 apiece, representing a premium of about 3.17 per cent to the closing price of H$1.26. The placing shares represent around 7.25 per cent of the enlarged issued share capital of Dongwu Cement. The estimated net proceeds of about HK$51.3m will be used for acquiring 100 per cent equity interest in Shanghai Bi...
Acting Semen Indonesia CEO named new head
PT Semen Indonesia Tbk on Friday appointed acting chief executive officer, Suparni, as its new head. His term will expire in 2019. Suparni, who goes by one name only, had been Acting President Director since the departure of former president director Dwi who was selected in November last year to lead state oil and gas giant Pertamina. Suparni joined Semen Indonesia in 1986. His previou...
Fitch upgrades GCC’s ratings, outlook to stable
Fitch has raised the credit rating of Mexican cement firm Grupo Cementos de Chihuahua (GCC) to BB-, in both local and foreign currency, with a stable outlook. Fitch said in a statement that ratings upgrade reflects GCC's strong operating performance over the past several quarters, its significantly improved credit profile following debt repayments during 2014 and the successful debt refinanci...