Cement News tagged: Corporate
McInnis Cement signs workforce recruitment partnership
McInnis Cement and Emplois Compétences have announced the signing of a partnership agreement for the recruitment and development of the local workforce for the cement plant at Port-Daniel-Gascons. Emplois Compétences opened its offices on 13 October in Port-Daniel-Gascons to support McInnis Cement in the recruitment of all employees. The positions to be filled are varied and include executive...
ACC sees subdued July-Sept volumes and pricing
LafargeHolcim Indian subsidiary ACC reported flat volumes and subdued selling prices for the July-September 2015 quarter as construction activity and cement demand remained weak during monsoon season. Turnover during the period stood at INR2740 crore, virtually flat from the same period of last year. Operating EBITDA fell to INR313.20 crore versus INR379.08 crores in July-Sept 2014. While sa...
India: Orient Cement reports on 'challenging' second quarter
Orient Cement reported a 35.4 per cent YoY decline in 2QFY16 net profit to US$4.32m due to lower income and higher expenses and finance costs. Net sales for the three months to the end of September 2015 fell to US$54.7m in the quarter compared to US$59.2m in the same period of the previous years. The company's total expenditure rose to US$51m from US$49m in the same period of 2014. Deep...
Maple Leaf Cement 1QFY15-16 profit rises by 55%
Pakistan-based Maple Leaf Cement net profit surged 55 per cent to PKR846.729m (US$8.1m) in the quarter ended 30 September 2015 versus PKR545.319m a year earlier, the company said on Monday. Revenue increased by 11.5 per cent to PKR4.965bn for the period under review versus PKR4.453bn in 1QFY14-15. Earnings per share stood at PKR1.60, up from PKR1.03 in the same period of last year. Ma...
UltraTech Cement second-quarter sales ahead
Aditya Birla group company UltraTech Cement reported higher revenue and volume growth for the second quarter of FY16 as well as a better operational performance during the period. For the three months to the end of September 2015, standalone net sales edged ahead by 4.2 per cent to INR5621 crores compared to INR5379 crores a year earlier. Profit before interest, depreciation and tax rose 8....
Cemex fails to annul sale of 14% shares in Akmenes
Cemex has failed to obtain a court order invalidating deals on the sale of a stake in Lithuania’s sole cement producer, Akmenes Cementas, through which Lithuanian three families were to take over control of the company. According to Baltic Business Daily, the Lithuanian Court of Appeals on 8 October turned down an appeal filed by Dutch-registered Rugby Holding, a subsidiary of Cemex, and refu...
Two China Shanshui Cement shareholders make deposit for proposed acquisition
Two shareholders of China Shanshui Cement Group Ltd have made a deposit for their proposed acquisition, Bloomberg reports. China National Building Material Co. and Taiwan’s Asia Cement Corp, which combined hold 37.6 per cent in Shanshui, each put in US$700m at Hong Kong’s Securities and Futures Commission on 11 August as cash confirmation for the general offer, Doris Wu, chief financial offic...
USA: Lehigh Hanson announces new president & CEO
Lehigh Hanson Inc, part of HeidelbergCement, announced Friday that Jon Morrish will succeed Daniel M Harrington as the company’s President and Chief Executive Officer. Mr Harrington will retire after more than 20 years of service with the company and having held the position of President and CEO since 2010. "Under his leadership, Lehigh Hanson successfully managed through one of the worst ec...
Umm Al Qura Cement Q3 losses widen 75%, Saudi Arabia
Umm Al Qura Cement posted SAR1.7m (US$0.45m) in net loss for the third quarter of 2015, a rise of 75 per cent from SAR6.9m (US$1.8m) logged in the same period a year earlier. Net loss for the first nine months of 2015 amounted to SAR14.1m, compared with SAR29m in the corresponding period of 2014.
Four Cemex USA cement plants awarded Energy Star certification
Cemex USA announced Thursday that four of its cement manufacturing plants have earned the US Environmental Protection Agency ENERGY STAR® certification in 2015. Cemex noted that recognition of its USA’s plants in Miami, FL, Clinchfield, GA, Fairborn, OH, and Victorville, CA, demonstrates that these facilities perform among the top 25 per cent of similar US facilities for energy conservation. ...
HeidelbergCement: new Managing Board members – new Group areas
HeidelbergCement yesterday announced changes to its Managing Board and the reorganisation of the divisions in line with the long-term oriented succession planning and the proposed acquisition of Italcementi. Within this context, the Managing Board agreements of Daniel Gauthier and Andreas Kern, due to expire on 30 June 2016, will not be extended, HeidelbergCement said in a statement. At the...
Saudi Cement third-quarter earnings down 10%
Saudi Cement Co posted net earnings of SAR208m (US$55.5m) for the third quarter of 2015, down 10.34 per cent compared with SAR232m a year earlier. Net earnings for the nine-month period ended 30 September also decreased by 5.21 per cent YoY from SAR806m to SAR764m. The profit decline was due to weak sales, the cement producer said in a statement on Thursday.
Italcementi, trade unions study solution for new lay-off scheme for 2016
Italcementi and the trade unions are looking for a solution for the temporary lay-off scheme that will expire in January 2016, according to reports by local media. At a recent meeting the parties determined that it is not possible to extend the current temporary lay-off scheme and consequently they are studying alternatives that would allow wider coverage compared to the initial programmes. ...
Carthage Cement posts 19% rise in 3Q15 turnover
Tunisia-based Carthage Cement increased its cement production by 52 per cent YoY in 3Q15. Cement turnover rose by 24 per cent during this period but clinker sales fell as the company did not sell clinker to avoid competition with its own product and promote the sales of cement, the finished product with high added value. This strategy allowed Carthage Cement to consolidate its domestic market ...
Oman: Raysut’s nine-month net profit down
Oman’s largest cement producer, Raysut Cement Co (RCC), said its net profit for the first nine months of this year fell 24.24 per cent to OMR15.81m (US$41m). The company’s revenue edged down to OMR69.38m from OMR70.76m, while the cost of sales rose to OMR43.88m from OMR40.16m, the company said in a stock market filing. Gross profit also slipped to OMR25.50m, against OMR30.59m for the nine-mo...
Steppe Cement revenue falls on lower pricing
Steppe Cement Ltd Tuesday said revenue in the first nine months of 2015 fell four per cent YoY as increased sales were offset by lower cement prices. Kazakhstan producer said revenue in the third quarter of 2015 experienced a small rise to KZT7.77bn from KZT7.65bn a year previously. That brought revenue for the first nine months of 2015 to KZT16.04bn, down four per cent YoY from KZT16.77bn. ...