Cement News tagged under: Holcim
Holcim: June '1206 July 2012, Published under Cement NewsHolcim's two main Indian subsidiaries, Ambuja Cements and ACC Limited, have been fined at total of approximately EUR325m, or INR2301 crores, by the Honourable Competition Commission of India. This represents some 36 per cent of the total INR6304 crores (EUR891m) levied on eleven leading Indian cement producers. The fines have been based on the profits generated in 2009/10 and in 2010/11 and the biggest fines were imposed Holcim and UltraTech, while Lafarge and a further six domestically con... |
Holcim Indian cement interests see modest YoY gains03 July 2012, Published under Cement NewsHolcim’s Indian cement companies, ACC and Ambuja Cements have reported modest rises in June shipments and production in June. ACC said shipments in June reached 1.96Mt, up 2.6 per cent from the 1.91Mt a year ago but lower than the 2.05Mt recorded in May. Cement production during June rose 4.23 per cent to 1.97Mt from 1.89Mt a year ago but fell from 2.02Mt in May. During Jan-June, ACC dispatched 12.79Mt of cement compared to 12.18Mt in the corresponding period a year ago. Production dur... |
Defending profitability key for European companies03 July 2012, Published under Cement NewsFitch Ratings says that the ability to defend profitability in emerging countries is the most critical issue for the rating of the European cement companies rated by the agency, Holcim Ltd. ('BBB'/Stable), Lafarge SA ('BB+'/Stable) and HeidelbergCement AG ('BB+'/Stable). In its special report, Fitch compared the current financials of the major European cement companies to the pre-crisis situation to assess if and how geographical diversification helped companies to recover revenue and prese... |
Moody's says CCI ruling to hurt Holcim & Lafarge26 June 2012, Published under Cement NewsMoody's has said the Competition Commission of India's (CCI) decision to impose a penalty on 11 cement producers is 'credit negative' for global cement majors Holcim and Lafarge both of which have Indian interests that have been fined. The agency said that the indirect consequences of the CCI decision is more harmful than the cash-outflow due to the penalty. "We believe that indirect credit consequences from the decision will outweigh the cash effect of the fines on Holcim and Lafarge,"... |
Holcim investor sells CHF320m stake, Switzerland25 June 2012, Published under Cement NewsHolcim's third largest investor, The Capital Group Companies, sold a CHF320m (US$333m) stake in the Swiss maker of cement on 20 June. The asset manager now owns 2.96 per cent, Holcim said in a press release, down from 4.9 per cent as of 13 September, data compiled by Bloomberg show. The Capital Group Companies share sale was completed on June 20, according to a statement from the Swiss SIX stock exchange. |
Holcim to contest Indian price fixing fine22 June 2012, Published under Cement NewsHolcim has said will defend the position of its two Indian units on the penalties imposed by the Competition Commission of India (CCI) for price fixing. Yesterday, the CCI announced that it would fine 11 Indian producers a total of US$1.1bn, stating that they had created an artificial cement shortage “so as to reduce supplies and raise prices in times of higher demand," it said in its judgment. The ruling applies to Holcim group companies ACC and Ambuja Cements (ACL), which have been fi... |
Indian producers issued with record fine on price fixing21 June 2012, Published under Cement NewsEleven Indian cement producers have been issued a total fine of INR60bn (US$1.1bn) for price fixing, the highest ever fine issued by the country’s antitrust authority in its three-year existence. The Competition Commission of India (CCI) said in its ruling that the companies colluded to underuse their plants and create an artificial cement shortage. "The commission has found that the cement companies have not utilised the available capacity so as to reduce supplies and raise prices in tim... |
Fontana sees more swaps in cement reshuffle15 June 2012, Published under Cement NewsHolcim Chief Executive Officer Bernard Fontana said swapping cement production facilities is more likely than outright purchases or sale of individual units, according to Bloomberg reports. Swapping parts of a portfolio with another company would not be more difficult to implement than buying or selling individual units, Fontana told journalists at a meeting in Zurich. Holcim’s CEO has said he is open to “selective divestments,” though he declined to comment specifically on Holcim’s mergers... |
Holcim on track to achieve sustainable targets12 June 2012, Published under Cement NewsHolcim said on Tuesday said it is on track to achieve its sustainability targets. I n the 2011 Holcim Corporate Sustainable Development Report, which features the company's progress against existing targets, Holcim said its self-imposed targets for reducing dust and NOx emissions have been met, and that the company leads in the industry with the lowest CO2 emissions per tonne of cement produced. Holcim also reported that it has improved the Lost-Time Injury Frequency Rate by 79 per cent ... |
Holcim06 June 2012, Published under Cement NewsHolcim's first-quarter turnover improved by 2.2% to CHF4760m (€3922m), which represents an increase of 7.1% on a comparable basis and measured in euros, the turnover advanced by 8.1%. The operating EBITDA eased by 1.1% to CHF745m (€614m), which represents a 4.6% advance in euro terms. The trading profit edged up by 0.5% to CHF349m (€287m), while at the net attributable level there was small profit of CHF10m (€8m), reflecting an improvement of 1.1%, or of 7.0% in euro terms. Net debt at the e... |