Cement News tagged under: Cost-cutting
European cement majors: first half trends06 August 2012, Published under Cement NewsThe last week has seen three leading European cement majors release first-half 2012 results: Lafarge, HeidelbergCement and Italcementi. The latest figures appear to confirm the upturn in North America, which, together with the emerging markets, have been the main drivers of demand as parts of Europe remain a drag on performance. While a slower volume growth environment persists, improved pricing and cost reduction measures continue to be central themes. In terms of market performance, wes... |
HeidelbergCement revenues rise driven by North America and Asia31 July 2012, Published under Cement NewsHeidelbergCement has reported a rise in revenue and profit for the second quarter of 2012 driven by increased sales in North America and Asia as well as successful price increases. The group has confirmed its targets for the year and expects sustained growth in Asia-Pacific and Africa-Mediterranean Basin as well as continuing recovery in North America but weaking demand in parts of Europe. The company's revenue for the April-June period rose 11 per cent to EUR3.8bn. Positive exchange rat... |
Cemex signs 10-year outsourcing deal with IBM31 July 2012, Published under Cement NewsCemex announced it has signed a 10-year services deal with International Business Machines Corp (IBM) that will help it save close to US$1bn during the lifetime of the contract.??IBM will provide Cemex with business process and information technology services. The deal includes: finance and accounting, and human resource back-office services, as well as IT infrastructure, application development and maintenance services. "This agreement with IBM will enable Cemex to focus on its core bu... |
Cemex bolstered by improving US sales30 July 2012, Published under Cement NewsCemex has reported an improved profit line for the first-half of 2012, as sales from its US division move into long-awaited positive territory signalling that the debt-laden producer could be heading in the right direction despite declines in its two biggest markets of Mexico and Europe. The company's first half turnover declined by 2.1 per cent to US$7373.1m but EBITDA improved 9.4 per cent to US$1273.2m and the trading profit rose 40.7 per cent to US$611.9m. Meanwhile, in the second-qua... |
Cementos Lima and Cementos Andino to merge, Peru26 July 2012, Published under Cement NewsPeruvian cement producers Cementos Lima and Cemento Andino are to merge into a single company, the company’s said in a joint statement. Shareholders from both producers on Tuesday approved plans for the merger which will create a new company under the name of Union Andina de Cementos SAA on 1 October, the statement to Peru’s securities regulator said. The companies said the merger will reduce costs while also improving liquidity, profits and financial strength. "The main objective of t... |
Cementos Portland to cut 250 jobs, Spain26 July 2012, Published under Cement NewsSpanish cement producer Cementos Portland Valderrivas is to cut 250 jobs throughout its Spanish operations after the summer and will temporarily halt production of plants in the Catalonia region. Spanish press have reported that an agreement on these measures has been made between management and trade union members. Some 160 jobs will be cut through retirement plans for people aged 58 and above. Another 60 employees will occupy new positions while 30 can opt to move to relocate to othe... |
Caribbean Cement sees more positive outlook11 July 2012, Published under Cement NewsCaribbean Cement Company expects a more positive outlook from next year as the company finalises a debt ‘reprofiling’ plan with some of its 30 biggest creditors. The agreement has given the company some time to pay off its JMD1.95bn (US$22m) debt over five years, starting from March 2013 to December 2018. The company has posted losses for three years but expects a turnaround by January 2013. "We are not out of the woods (but) definitely our outlook is more positive," General Manager A... |
Valderivvas presents restructuring plans to unions, Spain11 July 2012, Published under Cement NewsSpanish cement producer Cementos Portland Valderrivas has presented its restructuring plan to trade unions which involves the part-closure of one plant. The company announced that it plans to close its plant in Vallcarca for 10 months annually, reduce the number of employees and managers and halt kiln lines. Cementos Portland said that the estimated operating cost reductions with this plan equal the same savings that would be generated via the closure of three of its eight plants. The co... |
Lafarge to cut a further 97 jobs in France27 June 2012, Published under Cement NewsLafarge expects to cut a further 97 jobs in its domestic market of France as part of a plant to merge its three French divisions into one, to be headquartered in the Paris region. Lafarge, which employs a total of 68,000 people including 5300 in France, said in February it would cut 460 jobs worldwide, including 90 in France as part of a its corporate restructuring announced in November 2011. Earlier this month the group unveiled plans to cut costs by EUR1.3bn and increase profits over... |
Lafarge to accelerate cost cuts, lower debt12 June 2012, Published under Cement NewsFollowing the implementation of its new organisation, Lafarge has announced its 2012 to 2015 plan to cut costs by EUR1.3bn over the next four years and bring its net debt below EUR10bn as early as possible next year. The group is targeting a return on capital of more than eight per cent in 2015. Bruno Lafont, Chairman and Chief Executive Officer of Lafarge, said in a statement: "The plan we are presenting today will quickly drive higher returns for our shareholders, significantly strengthe... |