Cement News tagged under: Switzerland

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JP Morgan Cazenove upgrades Holcim

30 January 2014, Published under Cement News

JP Morgan Cazenove has upgraded Holcim to 'neutral' from 'underweight' and raised its price target to CHF71 from CHF58 as the outlook for cement makers is turning positive. "Construction materials is one of the few emerging markets exposed sectors that offer attractive risk-reward at present," say analysts. "It's time to reverse our relative negative stance, especially for cement stocks, and we see scope for 2014 to be a year of earnings growth," they add.

Swiss cement industry to solve future raw materials shortage

27 January 2014, Published under Cement News

Five out of six cement plants in Switzerland are expected to run out of limestone and marl over the next 10-15 years. As their existing quarries border areas with protected status as landscapes of national significance, they can not be readily expanded. “We have to find a solution that enables a reduction in these areas,” says Georges Spicher, director of cement association cemsuisse. However, the negotiations with the federal government, the cantons and communities are likely to be dif...

Swiss shipments advance 3.8% YoY

08 January 2014, Published under Cement News

Swiss cement shipments in 2013 rose by 3.8 per cent YoY, latest data from local association cemsuisse reveals. Fourth quarter sales proved to be particularly strong, rising 7.2 per cent YoY due to favourable weather conditions. Total deliveries for the year reached 4.564Mt last year compared to 4.395Mt during the year before. CEM II represented the lion’s share of sales at 85 per cent, while CEM I accounted for 13.3 per cent. A significant change was seen in distribution methods...

Swiss poll could limit executive salaries

21 November 2013, Published under Cement News

Nine months after putting checks on excessive payouts for executives in a referendum, Europe's best-paid voters will decide on Sunday whether to cap the highest wages in a company at 12 times the lowest pay. Swiss corporations and the government have joined forces to oppose the so-called 1:12 initiative, which is forecast to be rejected. The payscale at Holcim, formed 101 years ago in the Swiss village of Holderbank, underscores the challenge for multinational companies to comply with the p...

Swiss cement deliveries up 3.4% in 3Q13

04 October 2013, Published under Cement News

Swiss cement producers increased their domestic deliveries (including Liechtenstein) by 3.4 per cent in the third quarter of 2013, according to Cemsuisse, the country's cement association. some 1,285,289t of cement were sold to local customers. The rise has been attributed mainly to large projects which accounted for three-quarters of cement sales. In the first nine months of the year, dispatches expanded 2.7 per cent YoY to reach 3,392,563t and Cemsuisse expects total year-end deliveries...

Ulrich Spiesshofer takes over as ABB’s new CEO

20 September 2013, Published under Cement News

Ulrich Spiesshofer has succeeded Joe Hogan as chief executive officer of ABB, a leading power and automation technology group, following the three-month orderly transition period announced earlier this year. Hogan will continue as advisor to the Board until the end of March 2014. In a welcoming statement, Hubertus von Grünberg, Chairman of ABB’s Board of Directors, said: "Ulrich Spiesshofer has an outstanding track record forming and developing high performing teams and has demonstrated e...

Cost cuts help Holcim 2Q net profit edge ahead

15 August 2013, Published under Cement News

Holcim has reported a slight increase in 2Q net profit as cost cuts helped boost profitability but weaker demand in India, Canada and Mexico fell short of expectations. Net income edged up to CHF383m (US$411m) from CHF377m a year earlier. Revenue fell 3.3 per cent to CHF5.33bn in the three months through June as Ambuja Cements Ltd, its Indian subsidiary, struggled with an early monsoon season and weaker-than-expected economic growth in the country. Last month, Holcim restructured it...

Harris Associates builds up stake in Holcim, Switzerland

23 July 2013, Published under Cement News

Holcim said Chicago-based asset manager Harris Associates LB acquired shares in the Swiss cement major and now owns a stake worth CHF654m (EUR530m) Harris notified that it owned 3.04 per cent of Holcim's shares, therefore making it the third-largest shareholder in the Swiss cement major.

Swiss cement deliveries advance 2.3% in 1H13

05 July 2013, Published under Cement News

In the second quarter of 2013, the domestic deliveries of the Swiss cement industry increased 1.8 per cent when compared with 2Q12, according to the latest data from CemSuisse, the Swiss cement association. Dispatches rose from 1.286Mt in 2Q12 to 1.262Mt. In the first half-year, deliveries increased 2.3 per cent from 2.06Mt in 1H12 to 2.11Mt, reflecting the active construction market in the country. For the end of the year, a stable to slightly contracting volume can be expected.

Siggenthal cement works shifts to lignite, Switzerland

02 July 2013, Published under Cement News

Holcim’s Siggenthal cement works in Switzerland is changing over its fuel supply from anthracite to lignite. It is expected to require around 1500t per week to fuel its kiln. The lignite is supplied as pulverised coal from Europe by rail and once at the plant, it is stored in a new steel silo of 55m high and 10m diameter, constructed for the purpose by the cement producer. Two additional railway tracks have also been built.