Cement News tagged: Corporate
Suez Cement results impacted by lower selling prices, higher energy costs
Suez Cement Co, part of the Italcementi group, reported an 8.3 per cent drop in consolidated revenues for 2015 to EGP5.64bn (US$720m) from EGP6.15bn a year earlier. It recorded a net loss after non-controlling interest of EGP60m, from a prior-year profit of EGP50m. The company said that in the 4Q15, despite the strong demand and a balanced supply and demand situation, selling prices did not ...
Gulf Cement Co returns to profit, UAE
Gulf Cement Co reported net profits of AED24.54m (US$6.7m) in the fourth quarter of 2015, against losses of AED13.3m (US$3.62m) in the same quarter of 2014, according to a bourse filing on Thursday. Profits reached AED71.44m (US$19.45m) in the fiscal year 2015, a decline of 18 per cent from AED60.57m (US$16.49m) in FY14. The board recommended seven per cent cash dividends or AED 0.7 per shar...
Pakistan: Cherat Cement 1HFY16 profit rises 6%
Pakistan producer Cherat Cement Co reported a profit after tax of PKR676.2m (US$6.48m) in the first half of FY16 versus PKR639.8m a year earlier, which translates to a six per cent YoY rise. The company reported stable dispatches (+1 per cent) stemming from rising domestic sales which were up by 13 per cent YoY. The advance in local dispatches was attributed to an acceleration in private se...
Southern Province Cement Line 2 due for end-June completion
Work on Southern Province Cement's second production line at its Bishah plant in Saudi Arabia has been delayed, according to a company statement to the Saudi bourse. The company added that 83 per cent of the project has been completed so far and is scheduled for commissioning at the end of June 2016. The delay does not have any financial impact, the cement producer said.
Cuba: Mártires de Artemisa to produce 142,000t in 2016
Empresa de Cemento Mártires de Artemisa in Mariel, Cuba, is expected to produce 142,000t or some 30 per cent of total domestic cement output this year. Mártires de Artemisa produces P-225 cement and also has started delivering P-350.
Cementir boosted by Scandinavia and Italy
Cementir reported yesterday in its 2015 preliminary figures that improved performances in Scandinavian countries and Italy, plus a stable contribution from the Far East group area offset lower earnings in Turkey and Egypt. Revenue from sales and services amounted to EUR969m, up 2.2 per cent YoY thanks to the sound performance of operations in Scandinavian countries, Malaysia, Italy and Egypt...
Boral reports increase in underlying net profit after tax
Boral reported a 23 per cent increase in net profit after tax before significant items to AUD137m (US$97m) for the six months ended 31 December 2015, reflecting improvements in margins, stronger housing activity in the US and continued strength in its home market of Australia. Boral’s reported net profit after tax of AUD137m was 31 per cent higher than the previous corresponding period, wit...
Attock Cement first-half profits up by 12.5% YoY
Pakistan-based Attock Cement earned a 12.5 per cent rise in profit after tax of PKR1152m (US$11m) in the first half of 2016 compared to PKR1024m reported in the comparative period of the previous year. Net sales were virtually flat at PKR6396m against PKR6368m a year earlier. Distribution costs fell to PKR2241m from PKR4371m. In the 2Q16 alone, Attock reported earnings of PKR671m as com...
Algeria: Aïn Kebira receives stock exchange go-ahead
Aïn Kebira, a subsidiary of Groupe Industries de Cimenterie d’Algerie (GICA), has received the approval of the Algerian Commission of Stock Exchange Organisation and Surveillance (COSOB) to list its shares on the Algiers Stock Exchange. The introduction is scheduled to take place between 1 and 30 April 2016 by means of a capital increase. A total of 11.864m new shares will be offered at a p...
Martin Engineering names new COO
Robert Nogaj has been named Chief Operating Officer (COO) of Martin Engineering. Mr Nogaj will be responsible for all facets of the company’s business, including R&D, manufacturing, sales, marketing and finance. With 22 years of experience in bulk materials handling, he has previously served Martin Engineering as Vice President of Operations from 2001-15.
Change in LafargeHolcim leadership in India
LafargeHolcim announced yesterday that Martin Kriegner, currently Area Manager Central Europe, will be appointed Head of India, effective 1 March 2016. He will report to Eric Olsen, Group CEO, and succeed Bernard Terver who has decided to retire. Martin Kriegner joined LafargeHolcim in 1990 and has previously held several senior leadership positions in the group, including CFO and CEO of gro...
Fitch affirms Siam Cement at 'A(tha)', Outlook Stable
Fitch Ratings (Thailand) Ltd has affirmed The Siam Cement Public Co Ltd's (SCC) National Long-Term Rating at 'A(tha)', National Short-Term Rating at 'F1(tha)' and its senior unsecured debentures at 'A(tha)' with a 'Stable' outlook. Fitch notes that SCC's strong operating cash flow led to an improvement in credit metrics in 2015. EBITDA increased to above THB70bn (US$1.98bn) which saw FFO (Fun...
Martin Marietta Materials reports record full-year net sales and profitability
Martin Marietta Materials Inc reported its results for the 12 months to the end of December 2015 with record full-year net sales and profitability. Consolidated net sales in 2015 reached US$3.3bn from US$2.7bn a year earlier. Gross profit climbed to US$721.8m from US$522.4m in 2014. Ward Nye, chairman, president and CEO of Martin Marietta, stated: "For the full-year 2015, we achieved reco...
New Holcim Romania CEO appointed
Sofiane Benmaghnia has been appointed the new CEO of Holcim Romania, effective 1 April 2016. He replaces François Petry who took over as CEO of Aggregates Industries, the UK subsidiary of the recently-formed LafargeHolcim group. Algerian-Canadian Mr Benmaghnia joined LafargeHolcim in 1999 as a financial analyst. Since then, he has built his career within the group, working in several markets ...
Mexico: Holcim launches new cement
Holcim México has launched a new cement, Holcim Fuerte, on the local market. The product is targeted at the self-construction and housing sector. The new product offers a 30 per cent improvement in terms of mixing and placing, a 10 per cent higher performance and 50 per cent less cracking, according to the company. Holcim has invested around MXN133m in developing the latest addition its...
LafargeHolcim nominates new chairman of the Board of Directors
LafargeHolcim announced yesterday that Wolfgang Reitzle, chairman of the Board of Directors, has informed the Board that he will not stand for re-election at the company’s May 2016 AGM. "The Board regrets this decision while acknowledging Mr Reitzle’s wish to pursue other business activities that will require his fullest attention, in particular the chairmanship of the Linde Supervisory Boa...