Cement News tagged: Corporate
CRH completes Phase 2 of share buy-back
CRH has completed the second phase of its share buy-back programme, returning a further EUR350m of cash to its shareholders. Between 29 August and 18 October, 12.5m ordinary shares were repurchased on the London Stock Exchange and Euronext Dublin at an average discount of 1.3 per cent to the volume weighted average price over the period. This brings total cash returned to shareholders unde...
Construction of Potosí works to hit half-way mark end Oct
Construction of the new ECEBOL cement works in Chiutara, Potosí, had progressed by some 43 per cent by 30 September and is expected to surpass the 50 per cent mark at the end of this month, according to Zubim Andrade, who heads the Sociedad Accidental Imasa Polysius. Civil works such as the building of the administrative facilities have already been concluded with the participation of local ...
Bamburi Cement appoints Grace Oluoch as new FCO
Kenya-based Bamburi Cement has appointed Grace Oluoch as the company’s new finance director. She succeeds Eric Kironde, who has been Bamburi’s FCO since 2011. “The company is pleased to announce the appointment of Grace Oluoch as finance director,” the Nairobi Securities Exchange-listed company said in a regulatory notice Friday. Ms Oluoch has had a long career with consumer goods giant Uni...
Eurocement begins construction of 3Mta facility
Eurocement Group has started the construction of its new 3Mta facility in Uzbekistan. The plant is expected to begin operations in mid-2020 and will represent an US$160m investment. “This production will become the flagship of the cement industry and a powerful support for the growth of the economy of Uzbekistan,” said Mikhail Skorokhod, president of Eurocement Group. Once complete it will...
Cemex to invest US$235m in Philippine expansion
Cemex Holdings Philippines plans to expand capacity at its subsidiary’s facility in Antipolo City, Rizal, at an estimated investment cost of US$235m. Solid Cement Corp has signed project agreements with China’s CBMI Construction Co Ltd for the procurement, construction and installation of the new line, according to a disclosure to the stock exchange. The project is expected to increase capac...
Titan Group tenders Euronext and Athens Exchange listing
Titan Cement company has announced that Titan Cement International has submitted a voluntary tender offer the exchange of all the ordinary shares and preference shares issued by Titan Cement Co SA with new shares of Titan Cement International SA. The purpose of this offer is to have a listing of Titan Group on Euronext Brussels, one of the European Union stock exchanges. The offer includes th...
Adelaide Brighton announces new CEO
Australia’s Adelaide Brighton has announced that Nick Miller will become the company’s new CEO after Martin Brydon leaves the company next year. Mr Miller is the CEO of Broadspectrum, an infrastructure and maintenance service group, and was the managing director of civil construction company Fulton Hogan between 2010-17. Mr Miller is expected to take up the position no later than 17 April ...
RHI Magnesita strengthens management team
RHI Magnesita has appointed Jacqueline Knox, currently Associate General Counsel M&A at VEON, an international telecommunications and technology business, as EVP General Legal Counsel & Company Secretary at RHI Magnesita, effective 1 December 2018. Jacqueline will be based in Vienna and be part of the EMT. "This organisational change within our top leadership team will ensure we are well pos...
ACC reports a 10% rise in net sales
India’s ACC has reported a 15 per cent YoY increase in consolidated profit-after-tax to INR2.4bn (US$32.6m) for the 3Q18 ended 30 September. Net sales rose 10 per cent to INR33.64bn, compared with INR30.54bn seen in the year-ago period. Operating EBITDA was up seven per cent YoY to INR4.44bn from INR4.16bn. Furthermore, the cement sector showed volume growth of 10 per cent. "Demand drivers in...
Sibirsky Cement's cement production falls in 9M18
Russia’s Sibirsky Cement has seen a minor fall in cement production from its three plants in the 9M18, slipping to 2.507Mt from 2.516Mt in the year-ago period. The company’s Topkinsky facility recorded a flat YoY result of around 1.7Mt, while Krasnoyarsky increased its production by three per cent to 268,100t. However, Timlyuysk noted an eight per cent drop to 268,100t. The decline is due to...
Lafarge Africa posts 5% net sales increase
Lafarge Africa has recorded a five per cent increase in net sales for the 3Q18 period, rising to NGN72bn (US$198.3m) from NGN68.8bn. In the 9M18, net sales again advanced five per cent to NGN234bn. The positive performance in the third quarter was mainly driven by strong volume growth in Nigeria and favourable pricing trends in South Africa, according to the company. EBITDA for the 3Q18 was ...
Dangote starts work on Niger plant
Dangote starts work on the construction of a XOF180bn (US$315.8m) cement plant in Keita, Niger, according to the country’s national TV organisation. The new works will also included a 100MW coal-fired power plant. Dangote Cement Niger was granted approval to carry out research on “coal and related substances” on four permits in the region of Agadez (north) and Tahoua. The new cement fac...
Thatta Cement appoints directors and appproves WHR project at AGM
At Thatta Cement Co Ltd's (TCCL) annual general meeting the company elected seven directors for a three-year term commencing from 16 October 2018. The appointments include Khawaja Mohammad Salman Younis, Muhammad Taha Hamdani, Agha Sher Shah, Shahid Aziz Siddiqui, Naheed Memon, Saleem Zamindar and Shahzad Sabir. The company has also approved the time period for providing a PKR300m (US$2.25...
Cherat Cement posts FY1Q profit fall
Cherat Cement Company Ltd (CCCL) has announced its financial results for the period ending 30 September 2018. The company reported a net profit of PKR431m (US$3.23m) in 1QFY 18-19, down by 28.87 per cent YoY. According to the company's notification to the Pakistan Stock Exchange (PSX), CCCL’s net revenue shrank to PKR3.34bn from PKR3.89bn during this period. Company sales during the quarter ...
Cemex Spain to close Gádor plant
Cemex Spain has announced the closure of its Gádor cement plant, which has been in operation since 1977. The closure of the cement works, announced via an employment regulation fire (ERE) to the works committees at the plant, will see the employment of 100 permanent and 200 temporary workers. The step follows the earlier statement that the company will also end operations at the Lloseta fa...
Yamama Cement posts 3Q18 loss
Yamama Cement Co reported a drop in revenues in the first nine months of the year to SAR107.7m (US$28.7m) from SAR164.2m in 3Q17. The fall in sales was attributed to the steep price decline in the Saudi market. The 3Q results also showed a SAR46.4m net loss after zakat and tax. In 3Q17 the company reported a SAR29.2m net profit, according to Reuters.