Cement News tagged under: Holcim
Holcim suspends Joliette investment27 March 2014, Published under Cement NewsHolcim said it would suspend its CAD250m (US$225m) investment to expand capacity at its Joliette works in Canada given the potential economic uncertainty caused by the new Port-Daniel-Gascons cement works in Gaspésie, Québec, local press have reported. The Québec government recently awarded a CAD250m grant and tax benefits for 10 years to the greenfield project by McInnis Ciment. "We put the project on hold until we know really what impact the arrival of the new plant. We do not want to p... |
Fitch Affirms Holcim rating, outlook stable13 March 2014, Published under Cement NewsFitch Ratings has affirmed the Long-term Issuer Default Ratings (IDR) of Swiss cement major of Holcim as at BBB. The outlook is stable. The ratings agency said the affirmation reflects Holcim's leading market positions as one of the world's largest cement producers and its improving financial profile. The group reduced leverage to 3.5x in 2013 from 4.2x in 2011 (on a fully consolidated basis), supported by in excess of CHF1bn in non-core net asset disposals over the past two years. Earning... |
Jaypee reportedly in talks to sell Panipat grinding unit11 March 2014, Published under Cement NewsHolcim, via its ACC arm, is in preliminary acquire the Jaypee Group’s grinding unit in Panipat, Haryana state, two sources familiar with the situation told the Economic Times of India. The move would expand Holcim’s presence in the north of the country. ACC has a cement plant in nearby Himachal Pradesh, and if JP’s grinding unit is absorbed it would be “beneficial logistically and even in terms of costs,” the ET quoted one source as saying. A domestic player based in the north of the count... |
Mixed full-year performance for Holcim28 February 2014, Published under Cement NewsHolcim reported a mixed performance in 2013 as attributable profit doubled while turnover declined. Overall volumes were down due to weaknesses in key emerging markets, but European shipments were finally on the up. For the full year Holcim’s turnover declined by 6.8 per cent to CHF19,719m (US$22,349m). Operating EBITDA edged ahead by 0.2 per cent to CHF3896m, though ignoring last year’s restructuring there was a 5.6 per cent reduction. Trading profit rose by 34.8 per cent to CHF2357m but w... |
Holcim's full-year volumes down, net income rises on Leadership Journey initiatives26 February 2014, Published under Cement NewsHolcim reported saw volumes decline in its cement, aggregates and ready-mix concrete segments in 2013, but operating EBITDA margin and net income increased due to the implementation of the Holcim Leadership Journey. Full-year net sales were down 6.8 per cent to CHF19.72bn, but increased on a like-for-like basis by 0.2 per cent. The group reported that it was significantly harder to implement price increases in various markets than in the previous year. The Swiss franc exchange rate rose in... |
Holcim to propose Wolfgang Reitzle to take over as chairman26 February 2014, Published under Cement NewsHolcim's board of directors will propose to the annual general meeting on 29 April 2014 the election of Wolfgang Reitzle as the company's new chairman, to succeed Rolf Soiron. Mr Soiron has been the chairman for the past 11 years and a member of the board of directors for 20 years. The board of directors of Holcim Ltd will also nominate Jürg Oleas for election as a new board member at the April AGM. Jürg Oleas (56) is the CEO of GEA Group AG, a Dusseldorf-based mechanical engineering comp... |
JP Morgan Cazenove upgrades Holcim30 January 2014, Published under Cement NewsJP Morgan Cazenove has upgraded Holcim to 'neutral' from 'underweight' and raised its price target to CHF71 from CHF58 as the outlook for cement makers is turning positive. "Construction materials is one of the few emerging markets exposed sectors that offer attractive risk-reward at present," say analysts. "It's time to reverse our relative negative stance, especially for cement stocks, and we see scope for 2014 to be a year of earnings growth," they add. |
Huaxin expects strong rise in full-year net profit, China22 January 2014, Published under Cement NewsHuaxin Cement expects net profit to increase by between 105-125 per cent YoY in 2013 compared to a profit of CNY556m in 2012 when it suffered from severe pricing competition. The Hubei Province-based producer, part of the Holcim Group, attributes the profit growth to increasing sales and reduced production costs. |
EC rejects request by Germany to review deal07 January 2014, Published under Cement NewsThe European Commission (EC) has rejected a request from Germany to refer the planned acquisition of Cemex West by Holcim to the German competition authority for assessment under national competition law. The EC concluded that the geographic scope of the affected cement markets is wider than national and that therefore the Commission cannot refer the assessment of the transaction to Germany. The commission has until 31 March 2014 to take a final decision. In the proposed transaction Holc... |
Holcim (New Zealand) selects locations for two cement import terminals17 December 2013, Published under Cement NewsHolcim (New Zealand) has selected Timaru and Auckland as the location for two new 30,000t bulk cement import terminals. The company said that having reviewed proposals from ports throughout New Zealand, it had identified Waitemata in Auckland and Timaru as its preferred locations for the two terminals. "An import terminal at the Port of Auckland enables Holcim to supply cement direct into one of its major markets", Holcim (New Zealand) Ltd capital projects manager Ken Cowie said. "And c... |