Cement News tagged under: Restructuring

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East African Portland Cement withdraws dismissing workforce notice

12 August 2019, Published under Cement News

Kenya’s East African Portland Cement Co (EAPCC) has withdrawn the notice about the plan to dismiss its workforce of 800, saying it would make a further statement about restructuring the company. "(The) notice has been withdrawn," Acting Managing Director, Stephen Nthei said in a letter addressed to the Kenya Chemical Workers Union and seen by Reuters. "A fresh replacement notice on the intended company restructuring and staff rationalisation shall be circulated in due course," the letter s...

Disposals or growth for CRH?

08 June 2018, Published under Cement News

Last week, CRH made an announcement that it was creating a new global Building Products division which would start operation in January 2019 by merging its European Distribution and Americas Products divisions. Due to the company's enlarged scale, it sees opportunities for further value creation for its shareholders and is looking to maximise its network to improve its global products business. This comes after several years of re-positioning itself post-financial crisis when several of th...

Cemex to restructure Puerto Rico operations

11 January 2018, Published under Cement News

Following its significant fall in domestic cement sales, Cemex Puerto Rico has announced changes to its operations effective this month. While the company did not disclose further details about the number of dismissals, it aims to protect the highest number of jobs possible. The cement producer will also modify operations at its Ponce works, which will operate as a grinding unit. Cemex Puerto Rico President, Jorge Rojas, the current conditions in the local market prevent the compa...

China National Building Materials (CNBM)

01 November 2017, Published under Cement News

China National Building Materials Group (CNBM) is in talks to integrate some of its 15 subsidiaries. The move follows the announcement in September this year of the merger between CNBM and China National Materials Group, another state-owned building materials player, also known as Sinoma. Of the 15 subsidiaries in question, three are listed overseas. T he aim of the merger is to consolidate and strengthen the core business of each subsidiary, boosting profitability and maximising their va...

Cemex

02 September 2016, Published under Cement News

Cemex investment in Grupo Cementos de Chihuahua is being restructured, with Cemex taking a 23 per cent direct stake as well as a minority interest in Camcem, which will be the majority shareholder in Cementos de Chihuahua. Cementos de Chihuahua will remain a quoted company. Cementos de Chihuahua saw its turnover for the first six months decline by 1.4 per cent to US$333.4m, with the US operations registering a 4.2 per cent improvement to US$235.4m, while the Mexican activities registered ...

LafargeHolcim receives go-ahead for Indian streamlining

21 July 2016, Published under Cement News

India’s Cabinet Committee on Economic Affairs has given its blessing to LafargeHolcim’s proposals to simplify the structure of its remaining operations in the country. The company is now awaiting the formal sign-off of the Foreign Investment Promotion Board, but this is expected shortly. Under the proposals, LafargeHolcim will increase its stake in Ambuja to 61.14 per cent, while Ambuja itself will take a 50.05 per cent stake in ACC. Thus, ACC will become a subsidiary of Ambuja, which its...

China National Building Materials (CNBM)

02 March 2016, Published under Cement News

Shares in companies related to China National Building Materials (CNBM) Group and China National Materials (Sinoma) Group have fluctuated sharply over recent weeks as the companies continue their reorganisation plans. 2015 saw China unveil restructuring plans for several state-owned enterprises, including CNBM and Sinoma, covering reforms on ownership, management and supervision. On the back of this, shares in Sinoma surged by the daily maximum rate in late January while those in building...

LafargeHolcim reportedly plans to launch downsizing plan in Spain

29 October 2015, Published under Cement News

LafargeHolcim plans to launch a downsizing plan for 15 per cent of its workforce in Spain, according to local press reports. The launch of the downsizing plan was attributed to the difficulties that the company faces in Spain, due to the low cement demand in the country and the overlapping of workforces following the merger of Lafarge and Holcim, market sources said. LafargeHolcim currently has a workforce of 1000 employees in Spain and its annual revenues in the country amount to EUR300...

Conch Group unveils restructuring plan, China

30 December 2014, Published under Cement News

State-owned Conch Group of China has unveiled a plan to streamline shareholdings within the company.  The Anhui provincial government intends to convert its indirect controlling shareholding of Anhui Conch Cement Co and Wuhu Conch Profiles & Science Co into direct ownership, according to filings to the Hong Kong exchange on Monday.  Morgan Stanley said this might be an early step for the Anhui provincial government to exit from its shareholdings. 

China: joint venture formed to restructure Zhongxia Cement

02 December 2014, Published under Cement News

Gezhouba Group Cement Co Ltd and Hubei Zhongxia Cement Company Ltd have signed an agreement to form a joint venture to restructure the assets and businesses of Zhongxia Cement. Gezhouba Group Cement is a China-based company that engaged in the research, development, manufacture and marketing of cement. Under the terms of the agreement, the JV, with a registered capital of US$190m, will be engaged in production and sales of cement, clinker and fine slag powder and opencast mining of lime...