Cement News tagged: Corporate
Government institution sells 35,500 shares in Ciments du Maroc
The Moroccan Capital Markets Authority (AMMC) has announced that the Abu Dhabi Fund For Development (ADFD) has sold 35,517 Ciments du Maroc shares to the central market at a unit price of MAD1660 (US$180.5), decreasing the ownership threshold to five per cent, reported Morocco World News. As a result of this transaction, which took place 21 February 2018, ADFD now holds 691,160 Ciments du Ma...
LafargeHolcim announces five-year strategy
LafargeHolcim has announced its new five-year strategy to grow faster than the overall market and cut costs. The plan targets an annual sales growth of 3-5 per cent, recurring EBITDA growth of at least five per cent, improvement in free cash flow to over 40 per cent of EBITDA and increasing the return on invested capital to over eight per cent, according to Reuters. The company also reporte...
Holcim Philippines reports fall in net profit for 2017
Holcim Philippines has announced its results for 2017 and reports a net profit of PHP2.4bn (US$46.2m) for the full-year period, a fall of 65 per cent compared to the previous year. This has been attributed to a slowdown in the construction sector, increased competition and higher input costs, according to the Business Inquirer. Similarly, revenue decreased 13.9 per cent YoY to finish at PHP24....
Cuba to modernise cement factories
The Cuban cement industry will begin modernising cement plants this year to increase the country's production. According to Pavel Cansino Ávila, deputy director of Grupo Empresarial de Cemento (GECEM), a new factory in Santiago de Cuba must be set up during the current year, which will replace the obsolete "José Mercerón", built in 1955. The plant will be located in the southern part of Abel...
Cementos Molins reports 40% YoY rise in net profit in 2017
Cementos Molins posted a net profit of EUR89.1m (US$109.4m) in 2017, which represents a YoY advance of 39.5 per cent. Consolidated turnover for the year increased 15 per cent YoY to EUR645.6m. The company’s revenues were supported by its international subsidiaries which expanded by 16 per cent, particularly its Argentine subsidiary, which saw its sales rise by 23 per cent. Subsidiaries in Sp...
Savannah Cement targets Big Four Agenda projects
Savannah Cement will tap into Kenyan President Uhuru Kenyatta's Big Four agenda – manufacturing, universal healthcare, affordable housing and food security – as it enhances its supply focus on local and regional infrastructure development projects such as Standard Gauge Rail (SGR), Outering Road, Mutomo- Kibwezi Road among many others. Savannah Cement Managing Director, Ronald Ndegwa, said...
CRH appoints Richard Boucher as a non-executive director
CRH has announced the appointment of Richard Boucher to the board as a non-executive director, with effect from 1 March 2018. Mr Boucher has extensive experience in financial services, and was CEO of Bank of Ireland Group between Feb 2009-Oct 2017. Furthermore, he has held senior management positions within the Royal Bank of Scotland and Ulster Bank. Currently, Mr Boucher is a consultant f...
CRH FY17 results see sales of EUR27.6bn
CRH has released its full year 2017 results and reports sales of EUR27.6 bn, up two per cent on 2016 on a like-for-like basis. EBITDA was up six per cent to EUR3.3bn from EUR3.14bn in 2016. The EBITDA margin rose by 12 per cent, up from 11.5 per cent in 2016. All divisions posted LFL EBITDA growth: with Americas Products (+12 per cent), Americas Materials (+4 per cent), Americas Products (+5...
Lafarge Surma Cement changes name
Lafarge Surma Cement Ltd has changed its name to LafargeHolcim Bangladesh Ltd, effective from Thursday. According to a notification to the Dhaka Stock Exchange, "other things of the company (except name and trading code) will remain unchanged." The trading code has changed from ‘LAFSURCEML’ to ‘LHBL’ on the main bourse. Lafarge Surma Cement approved the acquisition of Holcim Cement (Banglade...
CMA launches Breedon and Tarmac asset swap enquiry
The Competition & Markets Authority (CMA) has launched Phase 1 of a merger inquiry into the anticipated acquisition by Tarmac of certain assets of Breedon Group. The initial period of the CMA’s merger inquiry began on 28 February, with the deadline for a decision on whether to refer the merger for a Phase 2 investigation currently scheduled for 26 April 2018. In a statement issued on 1 Febr...
FLSmidth acquires Sandvik Mining Sytems
FLSmidth has announced that its acquisition of Sandvik Mining Systems has been finalised. The deal will see the integration of continuous surface mining and minerals handling technologies into the company's core minerals sector, thereby allowing it to cover a wider range of the mining value chain. "With the completion of the South African assets we have added references, local expertise a...
EAPCC announces net loss for 2H17
East African Portland Cement Company (EAPCC) has announced that its net loss worsened in the half-year period ended 31 December 2017. The loss widened by 290 per cent YoY to KES969.57m (US$9.57m) from KES248.12m of the year-ago period, according to The Star. This has been attributed to a fall in revenue to KES3.06bn from KES3.72bn, due to the adverse effects of political activity. "Revenue de...
Dandot Cement Co posts PKR320m loss in 1HY17-18
Dandot Cement Company Ltd (DCCL) has announced that it has incurred a loss of PKR320m (US$2.88m) in 1HY17-18 as compared to a loss of PKR110m incurred in corresponding period last year. According to a notification of DCCL's to the Pakistan Stock Exchange (PSX), company sales decreased to PKR679m from PKR 1.07bn during this period. DCCL incurred a distribution cost of PKR2m against PKR13.5...
Dalmia Bharat wins bid for Binani
Dalmia Bharat Cement Ltd won the bid for Binani Cement on Tuesday, despite UltraTech Cement submitting an almost identical offer. The panel supervising the insolvency proceedings of Binani approved Dalmia’s resolution plan, which was backed by the Bain Piramal Resurgence Fund. Dalmia is expected to invest INR67bn (US$1.03bn) in Binani over a period of time. It has been alleged that UltraT...
Kigali Cement to resume operations
The Rwandan cement market is being keenly contested for and the country's second-largest cement plant at Kigali Cement had to recently suspend operations and lay-off staff, according to All Africa. The ARM Cement owned Kigali Cement plant has a capacity of 100,00t and imports clinker from Tanga in Tanzania, but clinker and coal have been in short supply. "For a couple of years, the company h...
Taiheiyo Cement appoints new president
Taiheiyo Cement Corp has appointed Masafumi Fushihara as president and representative director, effective from 1 April 2018. Mr Fushihara is presently working within the company as Senior General Manager of the Cement Business Division Department. The current president, Shuji Fukuda, will become chairman of the business.