Cement News tagged under: Australia
Adelaide Brighton full year earnings on track, Australia04 October 2012, Published under Cement NewsAdelaide Brighton has confirmed it is on track to meet its 2011-12 earnings guidance, underpinned by its exposure to the resource and infrastructure sectors. Speaking to the Australian Financial Review, Adelaide Brighton managing director Mark Chellew said the group’s 2012 financial year net profit guidance was between A145m-155m. Although the group has been hit by a slowdown in the residential sector, it has reviewed its resources-based cement exposure and was not expecting any fall in ce... |
Boral announces new CEO, Australia18 September 2012, Published under Cement NewsMike Kane has been appointed Chief Executive Officer and Managing Director of Boral Limited, effective 1 October 2012. Mike Kane will replace Ross Batstone who became Boral’s Chief Executive Officer in May 2012 when Mark Selway stood down from the role. At that time the Board commenced a comprehensive international search for a new Chief Executive Officer. Mr Kane joined Boral in February 2010 in the role of President Boral USA. He has spent the past two and half years significantly realig... |
FLSmidth strengthens customer services footprint in Australia05 September 2012, Published under Cement NewsFLSmidth signed an agreement to acquire the two Australian service companies MIE Enterprises Pty Ltd. and Mayer Bulk Pty Ltd. The parties have agreed not to disclose the value of the transactions. The two acquisitions will complement FLSmidth's regional Customer Services set-up with a highly skilled workforce and full-service capabilities. The key markets of the two companies are currently the Australian and South East Asian mining industries. MIE Enterprises Pty Ltd. and Mayer Bulk Pty ... |
Mining company looks to restart Kandos operations, Australia04 September 2012, Published under Cement NewsMining company Kingsgate Consolidated has signed a Memorandum of Understanding with the owners of the former Kandos cement works in an attempt to revive production. About 100 people lost their jobs when the cement works owned by Cement Australia (part of the Holcim group) stopped production last September. The New Projects Manager Simon McDonald says it is one of a few sites that will be considered. "As you know Kandos was shut down last year with the loss of quite a few jobs and s... |
Australia: market uncertainties ahead03 September 2012, Published under Cement NewsChallenging market conditions persist for Australia's cement sector due to weak residential and commercial activity combined with the potential impact of a new carbon tax which became effective last month. Last year saw a decline in housing starts as rising interest rates coincided with the end of stimulus packages. In November 2011, the Reserve Bank cut interest rates by 25bp to spur the market into recovery although it was unable to stop further declines in financing approvals. Latest da... |
Australia's Boral 2H profit slumps22 August 2012, Published under Cement NewsHit by weak housing construction in Australia and delays in big resource and road projects, top Australian building products maker Boral Ltd reported a 59 per cent fall in second-half profit, in line with market forecasts. Boral declined to give a forecast for the year ahead, in light of uncertain market conditions, but said it would update investors at its annual meeting in November. Net profit for the six months to June fell to AUD34.2m (US$35.6m) from AUD83m a year earlier, as calculat... |
Australia: construction downturn has cement maker reduce profit expectations20 August 2012, Published under Cement NewsAdBri reduced its market expectations at its full-year results presentation on Thursday, after worse than expected construction activity in the residential and non-residential sectors. Poor building conditions are driving a steady stream of companies in the construction sector to the wall. The trend is alarming industry groups and causing major companies such as cement maker Adelaide Brighton (AdBri) to lower their profit expectations. AdBri managing director Mark Chellew said building ... |
Adelaide Brighton sees improved outlook, Australia17 August 2012, Published under Cement NewsAustralian building materials producer Adelaide Brighton has lifted its first-half net profit by nearly 10 per cent and indicated a modest rise in annual earnings. Net profit rose in the six months to 30 June to A$67.5m (US$70.5m) from A$61.4m in the previous corresponding period. Revenue rose 8.3 per cent to A$550.3m from A$507.9m. Mark Chellew, managing director, said the company’s annual net profit could rise by as much as 4.4 per cent depending on the timing of cement sales and if ... |
Boral lowers expectations, Australia27 June 2012, Published under Cement NewsBoral has announced that it expects net profits for the year ending June 2012, to be in the region of AUD100m-110m, assuming that two property disposals are still completed this month, as anticipated. This compares with a previous guidance of AUD128m to AUD153m, made in April. While the performance in Asia and in the USA have been largely in line with expectations, the Australian performance in the final quarter is proving to be well short of expectations. The reasons cited by the co... |
Boral’s chief executive steps down, Australia24 May 2012, Published under Cement NewsThe Board of Boral Limited today announced that the Chief Executive, Mr Mark Selway, will step down from his role effective immediately. He will remain in employment with the Company until 31 July 2012 to assist with transition arrangements. Ross Batstone, currently Divisional Managing? Director Boral Building Products, has been appointed Acting Chief Executive Officer while a global search for a successor to Mr Selway is undertaken. Dr Bob Every, Boral’s Chairman, said: “Over the last... |