Cement News tagged under: Weekly Newsletter
TCL shareholders axe old board22 August 2014, Published under Cement NewsSix directors have resigned from the board of Trinidad Cement Ltd (TCL) in a meeting held in Port-of-Spain on Tuesday following a dramatic compulsory meeting of shareholders fed up with the dire financial performance of the indebted Caribbean cement producer. Businessman Wilfred Espinet was elected Chairman of the new TCL board, along with retired public servant Alison Lewis, Jamaican business executive Chris Dehring, Port-of-Spain attorney Glenn Hamel-Smith, UTC executive Nigel Edwards an... |
Moody's: WCC results in line with expectations21 August 2014, Published under Cement NewsMoody's Investors Service says that West China Cement Ltd's (WCC) first-half results are in line with Moody's expectations. As a result, WCC's B1 corporate family and senior unsecured ratings remain unchanged. "WCC improved its profitability and financial leverage in 1H 2014, despite a moderation in revenue growth, due to slowing cement demand," says Jiming Zou, a Moody's Assistant Vice President and Analyst. During 1H 2014, WCC achieved a 1.5 per cent YoY growth in sales, which was do... |
Exshaw achieves environmental milestone21 August 2014, Published under Cement NewsLafarge Canada Inc announced its cement plant in Exshaw, Alberta, has met its target to reduce emissions of dust, sulphur dioxide (SO 2 ) and oxides of nitrogen (NO x ) from its existing cement kiln line, and achieved zero water discharge from its operations. As part of its expansion, which will increase manufacturing capacity by 60 per cent, Lafarge upgraded an existing manufacturing line and is constructing a new kiln line. With the upgrade of the existing line now complete, Exshaw has ... |
Vicem cement output rises 4.7% YoY20 August 2014, Published under Cement NewsState-owned Vietnam Cement Industry Corporation (Vicem), the country’s leading cement producer, produced 10.24Mt of cement in the first seven months of this year, rising 4.7 per cent from the same period a year earlier. Clinker output, however, fell one per cent YoY to 9.43Mt during the period. In July, Vicem’s cement output rose 7.8 per cent YoY to 1.54Mt, while the corporation’s clinker output was 1.47Mt, up 8.1 per cent. In the first seven months, Vicem’s total clinker and cement sal... |
CRH returns to first-half pretax profit19 August 2014, Published under Cement NewsCRH's first half turnover advanced by four per cent to EUR8,324m and the EBITDA improved by 27.2 per cent to EUR505m. The trading profit jumped from EUR41m to EUR171m and after a net interest charge 2.7 per cent higher at EUR150m, the pre-tax result went from a loss of EUR71m to a EUR61m profit. The net attributable result went from a EUR57m loss to a EUR46m profit. Net debt at the end of June was 11.6 per cent lower at EUR3,703m, giving a gearing level of 39.9 per cent, which compares wi... |
Morgan Stanley raises Buzzi Unicem rating19 August 2014, Published under Cement NewsMorgan Stanley has raised its rating on Italy's Buzzi Unicem to "overweight" from "equal weight", on a strong upside potential for the cement maker's stock which has underperformed the market since February amid uncertainty over Ukrainian and Russian markets. Around 50 per cent of Buzzi Unicem's earnings per share (EPS) growth in 2015 will come from a double-digit rise in EBITDA, lower financial costs and higher earnings in Mexico, Morgan Stanley said. The research house expect lower sa... |
Cemex Latam to build new cement works15 August 2014, Published under Cement NewsCemex Latam Holdings is to invest around US$340m in building an additional cement works in Colombia. The new plant will be built in the Antioquia department, which is enjoying good economic growth. The first phase will include a grinding centre and should be completed during the second quarter of next year. The second, and final, phase is scheduled for completion during the second half of 2016. When completed, it should take company's Colombian cement capacity from around 4.5Mta to j... |
Corporate restructuring at FLSmidth14 August 2014, Published under Cement NewsFLSmidth has announced a number of organisational structure changes, as well as adjustments to the Group Executive Management. The new organisation will consist of the four divisions. The Material Handling and Mineral Processing divisions will be merged into a Minerals division. Cement and Customer Services will be maintained as separate divisions. A new Product Companies division will be created to foster globalisation and growth of FLSmidth's unique product brands. FLSmidth said the new... |
Aganang works to launch clinker production14 August 2014, Published under Cement NewsSephaku Cement has completed the commissioning of the clinker production facility at Aganang, South Africa, and is ready to commence production, the company said in a statement. The first consignment of clinker will be delivered to the Sephaku’s Delmas grinding plant by the end of the month. Dr Lelau Mohuba, CEO of Sephaku Holdings, said: “The production of its own clinker is an important step for SepCem, enabling it to become a fully-integrated producer of cement. We are confident that it... |
Sagar in talks to buy BMM Cements, India14 August 2014, Published under Cement NewsSagar Cement is in talks to buy BMM Cements as it plans to use the proceeds from the sale of its stake in the Vicat Sagar joint venture to fund growth organically and through M&A activity. BMM Cements operates a 1Mta integrated cement works along with a 25MW captive power plant near the Tadipatri in Anantapur district of Andhra Pradesh. Sources told the Economic Times of India that a team of Sagar Cements has already inspected BMM’s manufacturing and limestone assets and the legal and t... |