Cement News tagged under: Restructuring
Siam Cement to consolidate cement and building materials businesses29 March 2013, Published under Cement NewsSiam 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 facility19 December 2012, Published under Cement NewsHolcim 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 jobs19 December 2012, Published under Cement NewsSpanish 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 Europe17 December 2012, Published under Cement NewsHolcim 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, Italy13 December 2012, Published under Cement NewsItaly’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 performer04 December 2012, Published under Cement NewsFor 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 cutbacks30 October 2012, Published under Cement NewsHolcim 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 plan08 October 2012, Published under Cement NewsThe 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. |
EAPCC announces new strategy, Kenya01 October 2012, Published under Cement NewsEast African Portland Cement Company (EAPCC) of Kenya has announced the appointment of two management positions and revamp its strategy implementation and operations as it aims to increase efficiency. EAPCC has appointed two managers to head its production and human resources departments. Former Bamburi Cement and Athi River Mining employee Engineer Charles Charo is the new Head of Production Operations. Charo has 25 years of experience in cement manufacturing while John Ole Kimanjoi has... |
Dubai Group in talks for Lafarge Emirates stake sale, UAE14 September 2012, Published under Cement NewsThe Dubai Group is in talks to sell its 45 per cent stake in its UAE joint venture with Lafarge, according to reports by Reuters. Lafarge Emirates Cement, set up in 2005, is restructuring and needs additional capital to help support the business, something Dubai Group is unable to provide due to its debts. Lafarge Emirates Cement was set up as a joint venture between Lafarge, Dubai Group, part of conglomerate Dubai Holding, and the Fujairah government, an emirate in the Northern part of ... |