Cement News tagged: Corporate
PCA announces management changes, USA
Portland Cement Association (PCA) announced management changes designed to shift leadership to Washington, DC, in support of a renewed emphasis on national advocacy efforts in our nation’s capitol. “Over the past 10 years, we have debated the merits of our national association becoming more ‘DC-centric,” said PCA Chairman of the Board Aris Papadopoulos in an announcement of the changes.“The...
Mangalam Cement appoints CFO, India
Mangalam Cement has informed the board of directors at a meeting held on 3 September 2012, that Anil Kumar Mandot, joint president (Commercial), has been appointed as the chief financial officer (CFO) of the company. The information is a part of company's filings submitted to the Bombay Stock Exchange.
West China Cement chairman shares buy positive - DB
Deutsche Bank (DB) says according to Hong Kong Stock Exchange filings West China Cement’s chairman, Zhang Jimin, has been buying back shares for the last few weeks since Aug. 16 (7.2 million shares at a weighted average price of HK$1.20/share). It adds, Zhang's shareholding has increased by 15 bps to 38.53% of the total issued share capital. "We believe the chairman will continue buying shar...
Deutsche upgrades India Cements to buy
Deutsche Bank has upgraded India Cements to "buy" from "hold", while cutting its target price to INR106 from INR120, citing favourable risk-reward on attractive valuations and improving returns on equity profile.
Odra cement works orders new VRM, Poland
Gebr Pfeiffer has been awarded the contract to supply a MPS 3070 BC vertical roller for grinding 46tph of blast-furnace slag for the Odra works situated in Opole, Poland. The slag, ground to 3800cm²/g Blaine, is intended to be used as an additive to the cement. The ordered vertical mill features a main drive with an output of 1350kW for the production rate of 46tph. Exhaust gases produced by...
Huaxin sees 82.3 per cent slide in 1H12 net profit, China
Huaxin Cement said net profit for the first half of 2012 fell 82.3 per cent YoY to CNY95.92m (US$15m). Operating revenue slid 1.53 per cent YoY to CNY5.49bn with basic earnings per share of CNY0.1. Huaxin Cement is 41.6 per cent controlled by Holcim. Last year, the Chinese producer continued its acquisition policy and purchased three works in the Hubei province with a combined capacity of 5...
Yu Shiliang announced as new Sinoma chairman, Chairman
Following the sudden death of Sinoma chairman Tan Zhongming on Sunday, the company has announced that vice chairman Yu Shiliang will succeed him as chair. Tan, who was in his late 50s, reportedly died of a heart attack while in France for a company roadshow. However, a statement by Sinoma said that he passed away “due to illness.” The state-owned company is one of China's five biggest ce...
Lafarge Pakistan Cement swings to profit
Lafarge Pakistan Cement reported profit after tax of PKR498.916m (US$5.3m) in the first half of calandar year 2012 compared to losses of PKR17.539m in same period last year, boosted by a rise in domestic sales and cost optimisation. Net sales for the period stood at PKR4.784bn against PKR3.684bn in 2011. Its administrative and financial cost increased to PKR278.6m and PKR604.662m from PKR22...
Cementos Blancos leases Azuara plant to Cemex, Spain
Spanish cement producer Cementos Blancos de Aragon (CBA) has signed an agreement to lease its plant in Azuara to Cemex, according to local press reports. Through the move, CBA aims to repay EUR30m syndicated loan to a pool of banks including La Caixa Banco Popular and Banco Sabadell. Cemex, meanwhile, intends to relocate the plant’s equipment to its other production facilities in Spain, ...
Seacem trims stake in Lafarge Republic, Philippines
Southeast Asia Cement Holdings (Seacem) on Tuesday sold a 2.3 per cent stake in Lafarge Republic Inc (LRI) to local institutional investors for PHP1.14bn (US$27m). Seacem sold 136 million of its LRI shares at PHP8.40/share, according to disclosures by both companies to the Philippine Stock Exchange (PSE). Aside from raising fresh funds, Seacem’s move to reduce its stake in LRI is part of...
UK August construction output shrinks
The UK construction industry shrank in August as new orders dropped at the fastest pace since April 2009, according to Markit Economics. An index based on a survey of purchasing managers fell to 49 from 50.9 in July, Markit and the Chartered Institute of Purchasing and Supply said in a statement on Markit’s website today. The median estimate in a Bloomberg News survey of 12 economists was f...
Irish Cement in restructuring efforts, to cut 55 jobs
CRH subsidiary Irish Cement has announced 55 redundancies at its plant in Limerick as part of restructuring measures due to a considerable downturn in the domestic construction sector. The company said that the restructuring follows five years of decline in Irish construction activity which is now 80 per cent less than 2007 peak levels. “Unprecedented deterioration in market conditions,...
FLSmidth to acquire German TEUTRINE GmbH
FLSmidth has acquired the privately-owned company TEUTRINE GmbH Industrie-Technik (TEUTRINE), a German company specialised in mobile solutions for repairs, refurbishments and installation services. The parties have agreed not to disclose the value of the transaction. TEUTRINE has 40 years of experience of worldwide site management services, assembly and repair tasks within the cement and mi...
Seacem to sell Lafarge Republic shares, Philippines
Southeast Asia Cement Holdings (Seacem) plans to reduce its stake in Lafarge Republic Inc, either through a property dividend, share swap or other available – to allow the latter to meet its public float requirements. The two companies announced in separate disclosures to the Philippine Stock Exchange (PSE) on Friday, that Seacem plans to sell some of its shares in the majority-owned Lafarg...
PT Holcim Indonesia 1H net profit increases 15 per cent
PT Holcim Indonesia recorded a 15 per cent rise in net profit driven by increased sales. Net income rose to IDR514.4bn (US$54m) in the first six months of this year from IDR447.7m in the same period of last year. Revenue increased 18 per cent to IDR4.19trn, according to reports in the Jakarta Globe. Holcim Indonesia is currently working on construction of a new plant in Tuban, on the main ...
Sichuan Shuangma Cement 1H net profit slumps, China
Shenzhen-listed producer, Sichuan Shuangma Cement Co, reported a 112.95 per cent loss in net profit for the first half of 2012 to CNY11.64m (US$1.8m) China Business Newswire reports. In the six months to June, the company’s operating revenue was down 6.21 per cent to CNY885m. Basic losses per share stood at CNY0.02.