Cement News tagged under: LafargeHolcim

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Quarterly results disappoint as LafargeHolcim struggles to consolidate

13 May 2016, Published under Cement News

LafargeHolcim's results for the first quarter of 2016 have disappointed analysts as the company announced that EBITDA had fallen by 17 per cent on like-for-like terms compared to the same period in 2015. Despite volume sales of cement, aggregates and ready-mix all rising modestly, LafargeHolcim’s revenues were up just 0.1 per cent like-for-like. The firm cited "challenging" conditions in Nigeria, Brazil and India as the reason for slow growth. The market reacted negatively to the annou...

LafargeHolcim: cement volumes up 1.4% but revenues flat

12 May 2016, Published under Cement News

In its results for 1Q16, LafargeHolcim announced that cement volume sales rose by 1.4 per cent YoY with the Asia-Pacific region accounting for most of the improvement. Like-for-like revenues were almost unchanged on 1Q15, rising by just 0.1 per cent to stand at CHF6.062bn (US$6.244bn). In the earnings statement, LarfargeHolcim cited “challenging” conditions in Nigeria, Brazil and India as the reason for slow growth. The company also noted that the first quarter typically saw less activity...

Sri Lanka: Holcim Lanka inaugurates new transport model

11 May 2016, Published under Cement News

LafargeHolcim subsidiary Holcim Lanka has begun operations of a new ship-to-rail road hybrid model for the transportation of its raw materials. The state railway will transport Holcim cement related raw materials by rail from the Eastern port of Trincomalee to the Mahawa railway station where the company's dedicated trucks will then transport the materials to the Puttalam Cement Works Plant. Holcim Lanka Procurement and Logistics Director, Charith Wijendra, said: "It is critical we pro...

LafargeHolcim launch 2030 sustainability programme

10 May 2016, Published under Cement News

LafargeHolcim has announced a new group sustainability strategy called "The 2030 Plan" which sets ambitious long-term goals to help the company lead in sustainability and set new standards. The plan encourages the entire construction industry to provide solutions to some of the planet’s biggest issues. It sets a vision and defines the next steps in that direction. Quantitative targets relate to the company’s direct and indirect impacts over the life-cycle of its products and services. Ther...

India: mining law changed to assist cement mergers

03 May 2016, Published under Cement News

The upper house of India’s parliament on Monday approved an amendment to the mining law, allowing the transfer of mines from sellers to buyers in a victory for the State Bank of India (SBI) that had lobbied for the change. Mines Secretary, Balvinder Kumar, told Reuters the changes were mainly aimed at helping companies sell limestone mining licences along with their cement plants. It could also facilitate a merger of the Indian assets of France’s Lafarge and Switzerland’s Holcim after a...

Moody affirms LafargeHolcim's rating at Baa2

29 April 2016, Published under Cement News

Financial analysts Moody has today affirmed the Baa2 long-term and Prime-2 short-term ratings for LafargeHolcim Ltd (LH) and its rated subsidiaries and changed the outlook to "negative" from "stable". "The outlook change to negative from stable on LafargeHolcim's Baa2 ratings follows weaker than expected operating performance during 2015, a challenging outlook for several of the group's major markets and execution risks related to the timing of its ambitious disposal programme," says Falk...

Ambuja Cements reports 4.4% profit fall

29 April 2016, Published under Cement News

India’s Ambuja Cements has reported a 4.4 per cent fall in net profit, which reached INR3.038bn (US$45.6m) in 1Q16. In the first quarter of 2015, net profit reached INR3.177bn. The company’s income has decreased by 0.89 per cent at INR25.809bn for quarter under review as compared to INR25.581bn for the quarter ended 31 March 2015. Net sales declined slipped by 0.3 per cent to INR24.18bn in 4QFY16 as against INR24.25bn in the corresponding quarter last year, according to a company statemen...

Morgan Stanley: cement consumption to grow 4% YoY to 2020

25 April 2016, Published under Cement News

New research from Morgan Stanley predicts that worldwide cement demand excluding China has turned a corner and will grow at an annualised rate of four per cent between 2016 and 2020. The investment firm is particularly bullish about India, South Asia and sub-Saharan Africa, all of which it forecasts will see consumption grow by more than five per cent per year over the period (with Indian demand set to expand at 6.7 per cent). However, consumption in China is predicted to fall by 1.2 per ...

LafargeHolcim considering Vietnam exit

25 April 2016, Published under Cement News

LafargeHolcim Group, a joint venture between Swiss Holcim Ltd. and French Lafarge Group, may withdraw from Vietnam due to oversupply of cement in the domestic market, said Nguyen Cong Bao, general director of Holcim Vietnam, a subsidiary of Holcim Ltd. The group had a meeting with the Vietnamese Ministry of Construction to notify of the group’ business plans in Vietnam for the coming time, Mr. Bao was quoted by Dau Tu newspaper as saying Wednesday. According to the newspaper, Vietnam Cemen...

India: LafargeHolcim sale temporarily halted by court

18 April 2016, Published under Cement News

The sale of 11Mta of LafargeHolciim assets in India has been put on hold by India's Competition Appellate Tribunal. According to Mint an appeal has been lodged by Dalmia Cement (Bharat) Ltd. against the Competition Commission of India’s decision ordering the divestment of Lafarge India. The tribunal's decision will delay the sale process by at least three weeks, until May 9. Last week saw the close of bidding for the assets - three integrated plants and two grinding plants with a combi...