Cement News tagged under: Italcementi

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Italcementi: European decline largely offset by Asian improvement

07 February 2013, Published under Cement News

Italcementi's group cement shipments in 2012 saw a decline of 6.6 per cent to 45.9Mt with cement volumes being down in Europe and in the Middle East, but improving elsewhere. Group turnover declined by 3.8 per cent last year to €4480.1m, or by 4.9 per cent on a comparable basis and the turnover from cement and clinker was off by three per cent to €2903.5m. In concrete and aggregates, turnover fell by 7.8 per cent to €1280.3m as shipments of aggregates fell by 10.8 per cent to 34Mt and re...

Italcementi announces restructuring plan, Italy

13 December 2012, Published under Cement News

Italy’s leading cement producer Italcementi has approved a 2013-14 reorganisation of its domestic operations to cut annual costs by EUR40m (US$52.2m). The plan, named “Project 2015” forsees a temporary redundancy scheme for up to 665 employees. At present the company employs 2500 staff of whom two-thirds are involved in its productions sites and the rest work at the company's headquarters in Bergamo.

Italcementi awards Rezzato cement upgrade to KHD

13 November 2012, Published under Cement News

The Italcementi Group recently awarded KHD a contract to upgrade and redevelop its Brescia Rezzato plant in Italy. The upgraded plant, situated the in environmentally sensitive Lake Garda region, will have to adhere to very strict emissions, noise and other environmental requirements, while simultaneously ensuring highest levels of availability and low investment costs. Scope of supply Italcementi has chosen KHD’s Clean Technology to meet this challenge, which includes: • KHD COMFLEX® ...

Italcementi 9M12 sales hit by Western Europe, competition in Africa

08 November 2012, Published under Cement News

Leading Italian cement producer Italcementi posted a significant drop in nine month net profit as sales were hit by its Western European markets and higher competition in Africa. Nine month net profit totalled EUR17.1m compared to EUR105m for the nine months to September 2011. After minorities, the company posted a loss of EUR39.7m. Revenues fell 4.4 per cent to EUR3.396bn. Recurring EBITDA in the first nine months was EUR500.5m (-11.4% from the year earlier period, but down 8.3% if the...

Italcementi to revamp Rezzato works, Italy

26 October 2012, Published under Cement News

Leading Italian cement producer Italcementi said it will invest EUR150m to revamp its Rezzato works. The project is scheduled to start in November and is expected to be operational by the end of 2014. The restructuring will lead to improvement in the environmental and economic sustainability of the plant, CEO Carlo Pesenti said. The project aims to cut production costs by 23 per cent and reduce specific consumption of raw materials by eight per cent. The company has been in the ...

Zuari agrees to pay lump sum in L&T dispute, India

28 August 2012, Published under Cement News

Zuari Cement, a subsidiary of Italian cement major Italcementi, has agreed to pay a lump sum to settle an acrimonious dispute with engineering and construction company Larsen & Toubro (L&T) over unpaid bills, the Economic Times of India reports citing sources familiar with the situation. The amount Zuari Cement is set to pay is undisclosed. Last month L&T filed for arbitration proceedings against Zuari Cement to claim INR188.5 crore in unpaid dues and payment delays. L&T alleged that Zuari ...

Essroc officially opens rail project, USA

15 August 2012, Published under Cement News

Essroc Cement’s plant in Martinsburg, West Virginia, has celebrated the completion of a US$10m railroad spur project that is expected to help a cement producer ship thousands of tons of product each year via raill. About 100 people attended the official opening ceremony for the 1.2-mile rail spur, which connects the Essroc cement plant to Winchester & Western Railroad just south of Martinsburg. “It’s a day where we finally put the last pieces of a puzzle together,” said Brian Costenbader, ...

Cochin port attracts import investments, India

13 August 2012, Published under Cement News

Cochin port is emerging as a major cement import hub with Malabar Cements expressing interest in setting up a 1Mta facility and Zuari Cements finalising a 30-year deal with the Cochin Port Trust (CPT) this week. Cochin Port is a major port on the Arabian Sea – Indian Ocean sea-route and is one of the largest ports in India. The port lies on two islands in the Lake of Kochi: Willingdon Island and Vallarpadam, towards the Fort Kochi river mouth opening onto the Arabian Sea. The Hindu newsp...

West China Cement denies fraud claim

09 August 2012, Published under Cement News

Shares in mainland cement maker West China Cement were suspended from trading at the company's request yesterday, following the release of an analyst's report alleging the company was guilty of "blatant fraud". The request followed the overnight release of a report by US firm Glaucus Research Group that investigates Chinese listed companies, accusing West China Cement of "fabricating" its financial statements. "We believe that West China Cement is a blatant fraud. We believe West China...

CRH closing in on Jaiprakash cement stake - report

06 August 2012, Published under Cement News

CRH is reported close to picking up 51 per cent stake in Jaiprakash Associates' cement operations in Gujarat at an enterprise value of about INR4200 crore, the Economic Times of India has cited two persons familiar with the development as saying. The enterprise value of Jaypee Cement Corp, which has two cement plants in Sewagram and Wanakbori-each having a capacity of 2.4Mt, includes debt of about INR1800 crore. The deal will help Jaiprakash Associates pare its debt by about INR1800 crore...