Cement News tagged: Corporate
Cemex UK wins Gold Status for fleet system
From over 1900 companies, Cemex UK is one of 10 companies to achieve Gold Status in the Fleet Operators Recognition Scheme (FORS) run by Transport for London (TFL). Cemex has been a member of the scheme since 2008 and has cement tankers, aggregate tippers and readymix concrete trucks delivering vital building materials to construction projects in London. FORS, a voluntary certification s...
Conch Group to issue short-term bills, China
The Anhui Conch Group said it plans to issue CNY1.5bn (US$241m) in unsecured bills with a maturity of 365 days on the inter-bank market next week. The company said in a statement that this batch of bills will be issued on the 10 April 2013 at face value and the coupon rate determined during the the process of bookbuilding, China Knowledge Press reports. Agricultural Bank of China has bee...
Seacem sells entire stake in Lafarge Republic, Philippines
Southeast Asia Cement Holdings Inc (Seacem) has sold its entire stake in listed affiliate Lafarge Republic Inc worth PHP11.32bn (US$227.9m). The stake has been sold as part of the company's bid to raise cash and improve the firm's financial position amid the likely entry of a new investor, Seacem said in a disclosure.
Dongwu Cement's net profit slumps, China
Dongwu Cement International Ltd saw its net profit slump 98.81 per cent YoY to CNY1.04m (US$ 167,722) . Operating revenue, meanwhile, dropped 30.8 per cent YoY to CNY321m in 2012, the company said in a statement. Dongwu Cement International Ltd is a cement and clinker producer in Wujiang City, Suzhou Prefecture, which is situated in south Jiangsu Province. It employs NSP technology in the pr...
Lafarge North America sells Wichita, Kansas, assets to Summit Materials
Lafarge North America is selling its Wichita aggregates, concrete and asphalt/paving operations to Summit Materials. The Lafarge-Summit agreement involves Lafarge’s three aggregate quarries, five ready-mix concrete sites and three asphalt operations in the Wichita area, according to Lafarge. The transaction is expected to close in early April. Layoffs are expected although how many employee...
Buzzi Unicem net profit down on declines in Central Europe, Italy
Buzzi Unicem said on Thursday it posted an attributable net loss of EUR28.5m in 2012 compared with a profit of EUR27m in 2011, due to declines in Central Europe and a major slowdown of building activity in its domestic market of Italy. Improvements were, however, seen in the United States, Russia and Mexico. On a turnover that edged ahead by 0.9 per cent to EUR2813.4m, Buzzi Unicem's EBITDA...
Fitch Ratings affirms Cimentos Tupi's rating, Brazil
Fitch Ratings has affirmed Brazilian cement producer's Cimentos Tupi's 'B' ratings but has warned that a ratings downgrade could result from delays in the inauguration of the its new kiln. Tupi is expected to receive government licenses to start operation of its Pedra do Sino kiln during May. "Receiving the approval in a timely manner will be crucial to avoiding a future downgrade, as the ...
Eurocement Ukraine appoints director general
Eurocement Ukraine's supervisory board has appointed Oleh Lopatin as director general for a period of one year, the company said in as statement. He will replace Vitalii Horholiuk who has been acting direct general since 9 April 2012. Since 2010, Lopatin has headed the Voronezh affiliate of Moscow-based Eurocement Group (Russia).
Siam Cement to consolidate cement and building materials businesses
Siam Cement Group (SCG) is consolidating its cement and building materials businesses to strengthen its competitiveness for further regional expansion. "There is strong synergy among the cement, building materials and distribution businesses, which are related to the construction industry," said Kan Trakulhoon, SCG president and, said in a filing to the Stock Exchange of Thailand. The ...
DG Khan to buy stake in GS Cimento, Mozambique
Pakistan-based cement producer DG Khan Cement Company (DGKC) has signed a Memorandum of Understanding (MoU) to acquire a majority stake in an upcoming Mozambique cement producer. DG Khan has informed the Pakistan Stock Exchange that it has entered into a MoU with Sumaria Cement Holdings Ltd of Mauritius to acquire a 57.5 per cent shareholding In GS Cimento which is plans to construct a 0.55...
Texas Industries third-quarter loss narrows, USA
Texas Industries, Inc reported a net loss of US$5.8m for the third quarter ending 28 February 2013 compared to a net loss of US$24.3m in the same period a year before. “Construction activity in Texas and California continued to improve this quarter,” stated Mel Brekhus, Chief Executive Officer. “Gross profit increased US$14.2m on increased sales of US$19.5m. This increase in profitability p...
Lafarge Nigeria pretax profits more than doubles
Lafarge's Nigerian unit, WAPCO, said its full-year pretax profit more than doubled to NGN21.26bn (US$134.26m), compared with NGN10.34bn a year ago. Turnover also rose to NGN87.96bn during the period, from NGN62.50bn a year ago, it said. Lafarge WAPCO, a listed company in which Lafarge has a 60 per cent share, operates three adjacent plants in Ewekoro in Ogun State in southwest Nigeria wit...
Kuwait Cement Company net profit edges higher
Kuwait Cement Company recorded a net profit of KWD14.78m (US$51.9m) in 2012, up 3.6 per cent from KWD14.27m a year earlier, the company said in a bourse filing. The cement producer reported earnings per share (EPS) of 23.94 fils for 2012, compared to 23.08 fils a year ago. The total assets rose to KWD286.2m at end-December 2012 from KWD258.9m a year ago. Kuwait Cement is the largest cement p...
Eurocement Ukraine swings to profit
Eurocement Ukraine has reported a rise in net profit for 2012 of UAH37.433m (EUR4.6m) compared to a loss of UAH46.048m in 2011. The company is a subsidiary of a subsidiary of the Russia-based Eurocement group and has two cement works in Ukraine. Khrakov region in northeastern Ukraine has five kilns, the largest of which was re-commissioned in 2007 after a decade-and-a-half of idleness. The ...
Deutsche Bank: Conch to gain greater pricing power, China
In light of slowing demand growth and severe overcapacity in East China, the operating landscape has changed in favour of Conch partly through superior production costs and greater pricing power, Deutsche Bank says in a recent note. The bank believes that smaller players are losing market share as they can no longer compete with Conch's superior production costs (10-20 per cent below its pe...
Huaxin Cement sees net profit down 48.32% in 2012
Huaxin Cement Co Ltd, part of the Holcim Group, said net profit last year fell 48.32 per cent to CNY556m (US$91m). It attributed the reduction to severe price competition and its profit contribution to Holcim declined. Huaxin Cement, which is based in the Hubei province, saw operating revenue for 2012 slid 0.93 per cent YoY to CNY12.52bn (US$2bn).