Cement News tagged: Corporate
CPA revises construction outlook
The Construction Products Association (CPA) expects further growth for the UK construction industry, although the latest forecast reflects a downward revision since the summer owing to a slowdown in third-quarter housing and commercial activity. In a statement released earlier this week, the association said construction output is expected to increase 3.6 and 3.8 per cent in 2015 and 2016, re...
C&CA elects chairman for 2015-17 period
Mohd Yusri Md Yusuf, managing director of Cement Industries of Malaysia Berhad (CIMA), has been elected chairman of the Cement & Concrete Association of Malaysia (C&CA) for the period 2015-17 at the industry body's annual general meeting, held on 29 October 2015. During the meeting, Philip Ting, CEO of Hong Leong Asia/Tasek Corp, was elected as deputy chairman of the C&CA for the same timefra...
JSW and JK Lakshmi reportedly among shortlist for Reliance cement assets
JSW Cement Ltd and JK Lakshmi Cement Ltd are among seven bidders shortlisted for Reliance Infrastructure Ltd’s 5.5Mta cement assets, an official directly involved in the deal has disclosed to local press. On 5 November Reliance said it had shortlisted seven potential buyers who submitted preliminary expressions of interest to buy its cement business. JSW Cement, JK Lakshmi Cement and...
LafargeHolcim reports 9M15 results and outlines 2018 targets
LafargeHolcim today released its first set of results since the closing of its merger, with nine-month performance impacted by merger and restructuring costs, adverse foreign exchange, an economic slowdown in China and Brazil as well as softness in France and Switzerland. Good performances were seen in the US, UK and most countries in Asia-Pacific and Latin America. The group also announced me...
New executive VP at Martin Marietta
Martin Marietta Materials Inc announced that its Board of Directors has elected Roselyn R Bar, Senior Vice President, General Counsel and Corporate Secretary, an Executive Vice President of the company. Ms Bar joined the company in 1994 as assistant general counsel and assistant corporate secretary. She was promoted to corporate secretary in 1997 and associate general counsel in 1998. She bec...
ASEC Cement closes sale to Misr Cement Qena
ASEC Cement, a business unit of Qalaa Holdings, on Sunday announced it reached financial close on the sale of its holdings in subsidiaries ASEC Minya Cement and ASEC Ready Mix Co to Misr Cement Qena for total consideration of around EGP1bn (US$127m). “We are pleased to announce the sale process closed today, putting in place another cornerstone in our strategy to deleverage at both the holdin...
India: Shree Cement plans eastern expansion
Shree Cement Ltd is setting its sights on the eastern Indian market by establishing a grinding units in the states of Odisha and West Bengal, according to local press reports. The company is reportedly in the process of identifying land for the two plants, each with a capacity of 2Mta. "We have already started despatches in West Bengal and Odisha in a small way. We would like to captu...
Colombia: Argos 3Q15 profits jump 63% YoY
Cementos Argos has announced a 63 per cent hike in profits for 3Q15. Revenues are up 35 per cent while EBITDA saw a 41 per cent advance. Dispatches were up to a record 3.8Mt, a 15 per cent rise. For the nine-month period ended September, total cement sales reach 10.7Mt, reflecting an increase of 14 per cent when compared with 9M14. Argos concrete sales, which were particularly successful in th...
Malaysia: Lafarge Malaysia buys local Holcim company
Lafarge Malaysia Bhd has bought Holcim (M) Sdn Bhd from PT Holcim Indonesia in a deal worth MYR325.5m (US$75.5m). Lafarge Malaysia Bhd now becomes part of the LafargeHolcim Group, the biggest materials firm globally. According to Lafarge, this newly-combined unit of Lafarge and Holcim Malaysia provides the most comprehensive network of facilities and widespread solutions in Malaysia. The jo...
US Cement’s new Brady plant moves closer to Brady City Council approval
US Cement is another step closer to building its new cement works in McCulloch County, Brady, Texas. The Brady City Council has authorised two proposed sales tax rebate incentives for a proposed cement plant that would be built in McCulloch County. The city sales tax rebate economic development incentive for the proposed plant would not exceed US$297,000 over nine years, or up to US$33,000 ...
Algeria: Beni Saf acquires three quarries
Société des Cements de Beni Saf has acquired three quarries to supply its second production line. The Dhayet Smaâ quarry has an estimated limestone reserve of 78.66Mt. In addition, the clay deposits of Koudiet El Tine (24.3Mt) and El Ancer will also supply the 2Mta cement line. The cement producer has acquired the quarries, which cover an area of 370ha, for a record DZD1.005bn (US$9.3m). ...
LafargeHolcim 3Q15 results expected to reflect headwinds
LafargeHolcim is due to report 3Q15 earnings on Wednesday, Analysts at Davy Stockbrokers said weak 3Q from the building materials giant will not surprise an already cautious market as many of the company’s key end-markets have deteriorated further with little expected in terms of recovery. "Weaker demand and overcapacity are intensifying price pressure at a difficult time for the group. Merg...
Morocco: Anouar Invest starts construction on second cement works
Moroccan holding company Anouar Invest announced the start of construction of a new cement works at Laâyoune. Located in Foum El Oued, the new Cimsud plant represents an investment of MAD300m (US$29.98m) and will have a capacity of 0.5Mta. The unit is expected to come online in July 2017. Anouar Invest has also launched work on a 2.2Mta cement plant in Settat, via its subsidiary Atlantic C...
New brand identity for Thyssenkrupp
To reflect changes within its organisation over recent years, Thyssenkrupp yesterday announced the launch of a unified global brand, reflecting transformation of the Germany-based technology company to a diversified industrial group. “We are a different company today. We have become more diversified and as a result more stable,” says Dr Heinrich Hiesinger, CEO of Thyssenkrupp. Communication...
HeidelbergCement reportedly considering Uzbekistan investment
Uzstroymaterialy JSC and HeidelbergCement have started the active phase of negotiations for the acquisition of 35.9 per cent of shares of Uzbekistan cement producer Kyzylkumcement JSC, the company told Trend News Agency. In early November, the parties signed a memorandum of intent to acquire shares of the cement plant, according to the joint-stock company. “Currently, we define all the condi...
CRH reiterates 2015 guidance
CRH reported that its third-quarter trading environment benefitted from continued positive momentum in the Americas where overall economic recovery is driving construction demand. The backdrop in Europe continues to be mixed but stable. Cumulative sales from continuing operations amounted to EUR15.5bn the nine months to the end of September, an increase of 16 per cent compared with the corr...