Cement News tagged under: Australia
Boral's 3Q earnings hit by weak residential market, Australia06 May 2013, Published under Cement NewsAustralian building materials major, Boral Ltd, announced that continued weakness in the domestic housing sector and weaker-than-expected results from its Construction Materials and Building Products operations adversely impacted its third quarter earnings. In a recent trading statement, the company said it now expects its net profit before one-off items to 30 June 2013 to be in the range A$90m to A$105m, assuming a further US$10m from property sales yet to be finalised. That would compa... |
Boral consolidates Australian construction and cement divisions04 March 2013, Published under Cement NewsBuilding materials producer Boral Ltd has said it will consolidate its Australian construction materials and cement segments into one Australian division as part of ongoing restructuring initiatives. As a result of the merger, Joseph Goss has been appointed Divisional Managing Director, Boral Construction Materials and Cement, effective 1 April 2013. Mr Murray Read’s position of Divisional Managing Director, Boral Construction Materials will be made redundant and Mr Read will leave the or... |
Adelaide Brighton posts modest rise in net profit, Australia22 February 2013, Published under Cement NewsAustralian building materials producer Adelaide Brighton has posted a 3.8 per cent rise in net profit as mining and resources projects in certain regions offset weakness in residential and commercial construction. In the 12 months to 31 December, the company recorded a net profit of AUD154.1m from AUD148.4m the year before, driven by mining and resource projects in South and Western Australia and the Northern Territory. A weak residential market in Victoria hit cement sales while depr... |
Boral boosted by Asian acquisition from Lafarge13 February 2013, Published under Cement NewsBoral increased its turnover for the six months to the end of December by 14 per cent to AUD2774m (€2130m) and the EBITDA was ahead by eight per cent to AUD256m (€197m). Without acquisitions, the largest of which was Lafarge's share of the Asian plasterboard business, turnover would have been broadly stable. Trading profit was just three per cent higher at AUD112m (€86m) and after a net interest charge 47.1 per cent up at AUD50m (€38m), the pre-tax profit declined by some 16 per cent to A... |
Boral lifts 1HFY13 net profit guidance, Australia23 January 2013, Published under Cement NewsBoral Ltd today announced that following stronger-than-expected performance in the December 2012 quarter, it expects net profit after tax (before significant items) for the first half of FY13 to be approximately AUD52m, subject to finalisation of the audit review. At its 2012 Annual General Meeting on 1 November, the company had said that it expected Boral’s first half FY13 net profit after tax (before significant items) to be comparable with that achieved in the second half of FY2012, whic... |
Boral announces further job cuts in new restructuring plan17 January 2013, Published under Cement NewsBuilding materials major Boral has announced a further round of job cuts, predominantly across its Australian operations, following a 100-day review of the company by its chief executive Mike Kane . The company is to cut 700 functional, operational support and managerial positions jobs in Australia. Of those 700, some 200 have already occurred in late 2012, with the majority of redundancies expected to be completed by March 2013. New South Wales is to bear the brunt of the cuts, accou... |
Union meets workers over Boral job cuts, Austraila11 December 2012, Published under Cement NewsThe Australian Workers Union (AWU) is meeting today with workers who are expected to lose their jobs at Boral's Waurn Ponds cement plant in Victoria, Australia, according to reports by ABC News. Around 90 jobs are likely to be axed, after a restructure of the company's operations. Union spokesman Cesar Melhem says the workers are devastated, adding that the decision will have a flow-on affect to other trades, including subcontractors, in the area. Last week Boral announced that it would ha... |
Adelaide Brighton signs agreements with Japanese suppliers04 December 2012, Published under Cement NewsAdelaide Brighton has entered into two clinker import supply agreements with Japanese suppliers. These agreements secure a significant part of this requirement from the Japanese suppliers, with terms of seven and 10 years. The contracts represent the continuation of existing strong relationships and a diversified supply base, while at the same time reducing exposure to fluctuations in the exchange rate. Adelaide Brighton's imports of cementitious products, including grey and white clinker... |
Adelaide Brighton acquires 30% in Malaysian white cement producer03 December 2012, Published under Cement NewsAdelaide Brighton Limited has entered into an agreement to acquire 30 per cent of white cement producer Aalborg Portland Malaysia Sdn Bhd (APM). The acquisition price for the 30 per cent equity stake in APM is US$29.7m including US$2.3m for 30 per cent of the net cash on hand, plus transaction costs of about US$0.4m. Completion is expected on 5 December 2012. APM's facility is situated in Ipoh, on the west coast of the Malaysian Peninsula, approximately 180km north of Kuala Lumpur. It ... |
Holcim Australia to make cutbacks30 October 2012, Published under Cement NewsHolcim Australia is expected to lay off 150 staff and mothball up to 30 plants as it adjusts to challenging market conditions. According to reports by the Financial Review of Australia, the Swiss cement producer expects to mothball or close about 10 per cent of its sites in Australia when it completes an organizational review this week. Holcim Australia chief executive Mark Campbell said the review had taken softer market conditions, including a recent slowdown in the mining sector, ... |