Cement News tagged under: Cost-cutting
Fitch Ratings: mixed picture for EMEA companies27 November 2012, Published under Cement NewsFitch Ratings says 3Q12 results reported by Fitch-rated Europe Middle East and Africa (EMEA) cement companies, Holcim Ltd ('BBB'/Stable), HeidelbergCement AG ('BB+'/Stable) and Lafarge SA ('BB+'/Stable) showed a number of positives, but confirmed that general market conditions are still challenging and the outlook remains uncertain. Europe disappoints The European markets represented a negative surprise, mainly due to a weakening in volume sales. This not only reflects some peripheral ... |
Cemex Espana adjusts downsizing plan27 November 2012, Published under Cement NewsCemex Espana is to adjust its downsizing plan for its domestic operations from the initial 370 planned job buts to 280. The 25 per cent reduction came as a result of an agreement reached between the company's management and trade unions. The employees to be affected by the staff-reduction measure account for 16 per cent of all 1740 in Spain at present. The laid-off employees will receive severance pays of 30 days per every year of work but not more than 22 monthly salaries. The staff ad... |
CRH cuts costs and eyes emerging markets21 November 2012, Published under Cement NewsCRH showcased a credible, bottom-up cost savings plan during its recent analyst day in London, UK. Cost savings are expected to offset more than 75% of the impact of lower volumes as the group presented an additional E450m of cost savings during 2012-15. “Targets appear achievable and weighted towards the heavy-side Materials businesses in Europe and the Americas, where logistics, procurement, back office efficiency and energy appear to be the key levers,” said JP Morgan in its latest res... |
Lafarge 9M12 sales increase, reduces Western Europe outlook09 November 2012, Published under Cement NewsLafarge reported a sales rise for the third quarter and year-to-date, driven by successful price increases across product lines and by growth in many emerging markets. The company has maintained its outlook for full-year market growth but lowered its outlook for Western Europe. In the third quarter alone, consolidated sales were up four per cent to €4393m while EBITDA rose six per cent to €1071m. Current operating income up 9 per cent to € 815m. Over the first nine months of 2012, consolid... |
HeidelbergCement increases revenue and operating income08 November 2012, Published under Cement NewsGerman cement major HeidelbergCement has reported increases revenue and operating income in for the third quarter 2012 driven by cost savings and price increases and announced significant reduction in net debt. Group revenue in the 3Q12 rose by 8.9 per cent to €3944m, driven by increasing prices, and a favourable development of exchange rates. Positive exchange rate effects supported the development of revenue particularly in North America, Asia-Pacific, as well as Western and Northern Eu... |
Emerging markets, North America drive Holcim performance07 November 2012, Published under Cement NewsHolcim reported a rise in cement deliveries for the first nine months of 2012 supported by pricing improvements. Emerging markets continue to support growth together with stronger demand for building materials in North America, but the Europe and Middle East and Africa divisions register declines. Commenting on its results, the company said in a statement: “Holcim continues to have the advantage of a strong presence in emerging markets, where construction activity remains high. This uniqu... |
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, ... |
Cemex Spain lay off 370 workers as cement consumption plummets29 October 2012, Published under Cement NewsCemex Spain has lodged an employment regulation (ERE) for 370 workers, 21.2% of the 1740 employees that the Mexican multinational has in the country. The company justifies this measure of 'Horizon Plan' by the collapse in demand for cement in Spain, which "is putting at serious risk the future of this industry." Other measures include reducing eight factories to three to produce cement. So, it keeps its integrated production at the plants of Morata de Jalon (Zaragoza), Lloseta (Baleare... |
Cementos Moctezuma posts positive 3Q12 results25 October 2012, Published under Cement NewsMexico’s Cementos Moctezuma 3Q12 net sales reached MXN2.297bn (US$177.7m), representing a rise of 12.7 per cent when compared to last year’s equivalent period. Operating profit climbed MXN757m, up from 3Q11’s figure of MXN573m. Pretax profits improved from MXN591m to MXN758m over the three-month period, according to information sent to the Mexican stock exchange. For the first nine months of the year, Cementos Moctezuma registered net sales of MXN6.820, increasing from MXN5.988bn, noted... |
Cemex Spain mulling job cuts24 October 2012, Published under Cement NewsCemex’s Spanish subsidiary is considering cutting 350 and 400 jobs, a trade union official told Reuters on Tuesday. The official, who had informal talks with Cemex on the issue, said around one-fifth of the jobs could be cut out of a total of 1740 in the country. "We can anticipate that the steps will be pretty strong. There will be contracts being ended and about one-third of cement workers will be laid off," said José Luis López from the Comisiones Obreras (CCOO) trade union. |