Cement News tagged: Corporate
China Shanshui Cement loses almost US$1bn in 2015
China Shanshui Cement Group has declared a full-year net loss of US$988m for 2015 following a troubled year for the company that included the replacement of its entire board in December. The losses stem in part from a US$360m write-down of goodwill assets due to "forecasted less satisfactory results of operations of group companies in the foreseeable future and over-payment in the acquisiti...
Chile: Bío Bío sees 4.2% profit rise in 2015
Chilean cement producer Cementos Bío Bío saw its profits rise by 4.17 per cent to CLP21,141.17m (US$31.32m) in 2015 when compared with CLP20,295.75m noted the previous year. Income advanced 4.45 per cent from CLP283,525.81m in 2014 to CLP296,137.8m one year later.
Lafarge inaugurates new solid waste grinding unit in France
Lafarge has inaugurated a new solid waste grinding facility at its Saint-Pierre-la-Cour cement works in Mayenne, France. The new unit will help the French cement producer to increase its thermal substitution rate to over 80 per cent. The company sources around 60 per cent of its waste from the Loire and Bretagne area.
PPC appoint Peter Nelson as new chairman
South African-based PPC has appointed Peter Nelson as interim chairman of the listed cement and lime producer, following the retirement of former chairman, Bheki Sibiya, at the end of January. Nelson was appointed to the PPC board as an independent non-executive director in January this year. His experience covers manufacturing, mining, telecommunications, healthcare, leisure, property, ...
India: UltraTech purchase of 22.4Mta capacity set to be announced
UltraTech Cement, already India's largest cement producer, is expected to confirm its purchase of Jaiprakash Associates' cement business. A report by CNBC-TV18 states that the deal will be officially announced on 31 March. UltraTech will acquire cement plants with a capacity of 22.4Mta for INR170bn (US$2.56bn). UltraTech has been seeking to purchase assets from Jaiprakash Associates for ...
LafargeHolcim’s US$3bn spin-off in the making?
LafargeHolcim is reported to have chosen Citi and JP Morgan to explore the sale of its US$3bn Australasian operations, according to the Business Spectator. The news follows Dataroom’s disclosure that the company had been considering a potential spin-off of its Australian and New Zealand assets. The move would help to pay for the US$50bn global merger of Lafarge and Holcim in 2014. Both C...
Kenya: ARM nears final talks with foreign investor
Kenya's ARM Cement Ltd expects to conclude talks on a foreign investor taking a US$140m stake in the company by 15 April. The investment is expected to be concluded by June, the Nairobi-based company said in a statement by the city’s stock exchange on Tuesday. ARM first announced talks about the potential investor in December, when it said it was seeking a US$125m cash injection. “The board ...
LafargeHolcim to target emerging markets
LafargeHolcim Ltd is confident that a rally will continue in emerging markets this year. Higher cement buying in countries such as India, Indonesia, the Philippines and Vietnam is offsetting slower growth in China, leaving LafargeHolcim CEO, Eric Olsen, optimistic about continued expansion in markets that represent about 55 per cent of his company’s footprint. Indonesia is certainly one cou...
Council cancels permit for Massachusetts cement plant
Officials in Attleboro, Massachusetts, USA, have rescinded a permit given to Attleboro Sand & Gravel to allow it to develop a cement plant. Local newspaper the Sun Chronicle reports that the zoning board of appeals ruled that the plant is not allowed in the industrial business park zone where the company's 180-acre property is located. Attleboro Sand & Gravel, which is owned by Massachusetts...
India: Dalmia Bharat wins go ahead for amalgamation
Dalmia Bharat has received approval from its Board of Directors for amalgamation of OCL India and Dalmia Cement East 'Bokaro' with Odisha Cement (OCL). The board has approved amalgamation of Adhunik Cement with Dalmia cement (Bharat) and transfer of power assets in Dalmia Cement Bharat Power Ventures to Dalmia Cement (Bharat), the company said in a filing to the Bombay Stock Exchange. The...
Egypt: Arabian Cement's revenue falls in 4Q15
Arabian Cement Company (ACC) has described its 4Q15 financial results as "mixed". According to Egypt Daily News, the company added that nothing is alarming with regards to profits, losses, and the operating performance. During the quarter, the company’s cement selling price registered EGP497/t (US$55.89/t), three per cent higher than ACC had previously predicted. However, revenues and ...
India: Shree Cement set for more expansion
Shree Cement, the fourth largest domestic cement company, is looking to ramp up capacity by another 10Mta in the coming three years. The cement producer has lined up a capital expenditure of INR60000m (US$900m) to construct three new clinker plants. The first plant will be a 3Mta the line at Bazar-Bhatapara district, in Chhattisgarh. The company has recently won a bid for limestone res...
India: Emami Group to build Panagarh grinding plant
Chief minister Mamata Banerjee, on Saturday, in Panagarh, laid the foundation stone for Emami Group's new INR5000m (US$74.8m) grinding plant project that will be located in Panagarh. The Emami Group explianed that the new unit is likely to be commissioned by year-end. "The 2Mta capacity unit is to be located at WBIDC Panagarh Industrial Park in Burdwan district of West Bengal at an inves...
Buzzi Unicem releases FY15 results
Buzzi Unicem reported recurring EBITDA of EUR121m for 4Q15 and EUR473m for the full-year 2015. This is above earlier guidance of EUR470m as well as consensus estimate of EUR468m, says analysts Morgan Stanley. Compared to the Morgan Stanley's 4Q15 segmental forecast, the strong performance came from the US, Germany and Russia where the reported EBITDA margins were much higher than analyst expec...
China: Anhui Conch suffers 32% profit fall in 2015
China's largest cement maker, Anhui Conch, reported a 32 per cent fall in 2015 net profit on Wednesday, marking its first profit fall in three years as a slowing Chinese economy was reflected in a contracting construction market and reduced cement demand. Anhui Conch also warned that the cement industry's oversupply situation could worsen this year as growth in China's fixed investments was ...
Bosnia: TCK sees net profit rise to EUR7.1m in 2015
Bosnian cement producer Tvornica Cementa Kakanj (TCK), owned by HeidelbergCement, saw its net profit jump to BAM13.8m (US$7.88m), up 22 per cent from BAM11.3m in 2014. The company’s operating revenue edged up 1.4 per cent YoY to BAM62.1m in 2015. Operating costs decreased to BAM48.2m from BAM49.7m in 2014, TCK said in its financial report sent to the Sarajevo Stock Exchange.