Cement News tagged under: Restructuring

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India Cements to restructure non-core assets

07 June 2013, Published under Cement News

India Cements has said it will restructure its non-core assets, enabling the company to focus on core areas of its business and increase profitability. The company is expected to announce businesses in which it wants to partially or fully exit when it announces its quarterly results later this year. “We are working on whether to merge, hive-off or to sell to make all these businesses profitable and if we can grow independently,” N Srinivasan, vice-chairman and managing director, said. ...

Holcim reduces capital in Spain by 75%

07 June 2013, Published under Cement News

The challenging state of the Spanish cement market has prompted Holcim to reduce its capital in Spain by 75 per cent or EUR568m. The capital reduction will be carried out by reducing the nominal value of shares, is the direct consequence of the losses registered by the Switzerland-based company in the past few financial years. ??At the start of the year, Holcim announced the closure of its Lorca plant as not only production levels were low, but there was also no sign of positive developme...

Siam Cement to consolidate cement and building materials businesses

29 March 2013, Published under Cement News

Siam Cement Group (SCG) is consolidating its cement and building materials businesses to strengthen its competitiveness for further regional expansion. "There is strong synergy among the cement, building materials and distribution businesses, which are related to the construction industry," said Kan Trakulhoon, SCG president and, said in a filing to the Stock Exchange of Thailand. The company aims to increase its Asean sales from 18 per cent of the total and has budgeted THB40-50bn f...

Holcim Belgique to close Haccourt facility

19 December 2012, Published under Cement News

Holcim Belgique announced it will close its Haccourt cement grinding plant, near Liège, Belgium. The unit currently employs 43 people. This project is part of a reorganisation of Holcim’s European industrial base announced earlier this week. The group said in a statement that the shutdown was due to a “deterioration of market conditions and grinding overcapacity at Holcim Belgique.” "Holcim Belgique, whose clientele goes beyond the borders of Belgium, is facing increased competition in...

Sociedad de Cementos y Materiales looks to cut 35 jobs

19 December 2012, Published under Cement News

Spanish cement and building materials producer Sociedad de Cementos y Materiales de Construccion de Andalucia, is reportedly planning to lay-off 35 members of staff. The company, which is controlled by Portuguese cement major Cimpor, is currently negotiating with its employees and trade unions, according to reports by Expansión. The downsizing measure will affect 25 employees at its Cordoba works and 10 employees at the factory in Niebla. The firm currently employees a total 142 people....

Holcim to restructure operations in Europe

17 December 2012, Published under Cement News

Holcim has said it will introduce a leaner management structure in Europe to reflect the lower level of construction activity,  and expects to save at least CHF120m (EUR97mm) a year. The additional cash costs for restructuring in the fourth quarter of 2012 will amount to approximately CHF100m (EUR80.8m) including site restoration costs. Write-offs of property, plant and equipment will reach CHF410m (EUR331.5m) to be charged in the fourth quarter of 2012. The restructuring accelerates ...

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.

Mozambique is Cimpor’s star performer

04 December 2012, Published under Cement News

For the first nine months of 2012, Cimpor’s cement and clinker shipments were 9.4 per cent lower at 18.82Mt, as volumes dropped by just over one -third both in Spain and China while Mozambique proved to be the company's star performer.  The assets to be retained by Cimpor as a result of the agreement between the major shareholders for splitting the Cimpor assets, were actually 0.7 per cent higher at 10.97Mt. Turnover for the nine months to September 2012 was down by 1.6 per cent to €1170....

Holcim Australia to make cutbacks

30 October 2012, Published under Cement News

Holcim Australia is expected to lay off 150 staff and mothball up to 30 plants as it adjusts to challenging market conditions.  According to reports by the Financial Review of Australia, the Swiss cement producer expects to mothball or close about 10 per cent of its sites in Australia when it completes an organizational review this week. Holcim Australia chief executive Mark Campbell said the review had taken softer market conditions, including a recent slowdown in the mining sector, ...

Cyprus Cement to examine restructuring plan

08 October 2012, Published under Cement News

The Board of Directors of Cyprus Cement Company Public Ltd announces that it will meet on Wednesday, October 17, 2012 to examine the restructuring plan of the existing corporate structure of the Group to create a more flexible group, reflecting the sectors in which it is actively involved.