Cement News tagged under: Greece

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The US recovery is the one bright spot for Titan

30 August 2012, Published under Cement News

Titan’s first half turnover declined by 1.6 per cent to €547.9m and the EBITDA fell by 21.3 per cent to €112.1m, as the cement producer is caught amid a continued downturn it its domestic market of Greece and US operations prove to be its only bright spot. Titan’s trading profit fell 39.5 per cent to €50.5m, but the net financial charge dropped by 54.9 per cent to €20.5m, reducing the fall in the pre-tax profit to 21.8 per cent to €29.5m. The net attributable profit emerged 65.3 per cent l...

Texas Industries asks Commerce to probe Greece, Republic of Korea imports

28 August 2012, Published under Cement News

Texas Industries, through its subsidiary TXI Operations, submitted a letter on 24 August 2012 to the Department of Commerce and the Interagency Trade Enforcement Center, asking that Commerce self-initiate anti-dumping and countervailing duty investigations of "unfairly priced" Portland cement from Greece and the Republic of Korea into the Texas region, USA. TXI believes that imports from Greece and Korea are being sold at less than fair value (ie, dumped) and benefit from government subsid...

Lafarge: July '12

03 August 2012, Published under Cement News

Lafarge's 1H turnover increased by an underlying 4.9 per cent to €7614m and the EBITDA rose by 7.8 per cent to €1523m, while the trading profit increased by 14.7 per cent to €1022m. A lower €46m gain was taken on the sale of emission permits in the period. The net attributable profit, after charging restructuring costs and writing €200m off the assets in Greece, tumbled 95 per cent to €13m. Net debt at the end of June was 12 per cent lower at €12,550m and the gearing increased slightly from...

Heracles General Cement appoints Non Executive Director

28 June 2012, Published under Cement News

Heracles General Cement Company of Greece has appointed Manolis Chris Kyprianides as a Non Executive Director. The effective date is 22 June 2012.

IFC invests in Titan's operations in Western Balkans

27 June 2012, Published under Cement News

Titan Cement announced the completion of a EUR50m equity investment by the International Finance Corporation (IFC) in Titan’s subsidiaries in the Western Balkans region including Macedonia, Serbia and Kosovo. The transaction results in IFC holding, through Titan Cement Cyprus, a minority stake of approximately 11.5 per cent in Titan’s operations in the aforementioned countries. The Greece-based cement producer said in a statement: “The collaboration in the region with an institution su...

Heracles Group sales down 37.6% in 1Q12, Greece

30 May 2012, Published under Cement News

Heracles Group of Companies announced sales of EUR43.89m for the first quarter of 2012, a reduction of 37.60% compared with the EUR70.35m in the same period of 2011 as the Greek constructions sector stalls with now sign of a turnaround. At the EBITDA level the group reported a loss of EUR16.59m against EUR9.38m in first quarter last year. Heracles said in a statement,: “The decrease in the group and the company sales in the first quarter of 2012 reflects the intensifying recession in t...

Heracles Cement industry appointments, Greece

29 May 2012, Published under Cement News

Greece-based Heracles Cement announced the following industry appointments: Stratis Zacharis is appointed as Sales General Manager for cement reporting to the Managing Director, Pierre Deleplanque. George Benos, Sales & Marketing General Manager, is appointed as Marketing General Manager for cement, aggregates and concrete, also reporting to the Managing Director Pierre Deleplanque.

Titan Cement 1Q12 loss widens as construction slows

04 May 2012, Published under Cement News

Titan Cement Co SA, Greece’s biggest producer of the building materials, posted a wider 1Q12 loss as the country’s construction industry slowed and bad weather conditions hit the Balkans, Turkey and Greece. The net loss was €19.4m (US$25.5m) in the three months through 31March compared with a €4.3m loss in the same period a year earlier, according to a statement from the Athens-based company today. “The severe and extended winter period this year across the Balkans, Turkey and Greece ...

Standard & Poor's revises Titan's outlook

27 April 2012, Published under Cement News

Standard & Poor's (S&P) Ratings Services revised its outlook on Titan Cement Co to stable from negative. At the same time, we affirmed our 'BB-' long-term and 'B' short-term corporate credit ratings on the group. S&P said the outlook revision reflects its view that "Titan will be able to sustain solid cash flows and an 'adequate' liquidity profile over the next 24 months. ??Titan was able to maintain solid cash flows despite disruption in its key markets in the year ended 31 December 2011. ...