Cement News tagged: Corporate
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. ...
Investment agreed for Khokh Tsav Cement-Lime
The Mongolian cabinet has approved the draft agreement on investment for Khokh Tsav cement-lime plant and authorised the Minister of Industry, D Erdenebat, to sign the agreement. The plant was originally conceived in 2012, but had insufficient finances to go beyond the planning stages. The project consists of building a dry-process plant for cement-lime and clinker production, based at the K...
Dangote commissions 3Mta Tanzanian plant
Dangote Cement has commissioned its 3Mta Mtwara cement plant in Tanzania and held a groundbreaking ceremony for a 26ha jetty, as the Nigerian cement major continues its expansion drive in Africa and beyond. The new plant is expected to reduce imports into Tanzania as well as bring down prices in the country. The company aims to Tanzania's main consumption centres as well as neighbouring marke...
LafargeHolcim welcomes new CFO
LafargeHolcim announces the appointment of Ron Wirahadiraksa as the Group’s new Chief Financial Officer and member of the Executive Committee. Mr Wirahadiraksa will succeed Group CFO Thomas Aebischer who is pursuing new opportunities outside the Group. Mr Wirahadiraksa is currently Executive Vice President and Chief Financial Officer of Philips, a group he joined in 1987. After working in t...
Yanbu Cement Co nine-month net profit down 2%
Saudi-based Yanbu Cement Company reported a two per cent decline in net profit over the first nine months of 2015 to SAR597m (US$159m), compared to SAR609m in the same period of 2014. In the third quarter alone, profit was down by 11 per cent to SAR145m versus SAR163m in 3Q14, according to a bourse filing. The profit drop during the first nine months and third quarter of 2015 is mainly attri...
Huaxin Cement to launch 5Mta project in Kazakhstan
Shanghai-listed Huaxin Cement Co, Ltd will erect a cement project with a capacity of 5Mta in Kazakhstan. The new dry-process cement production line will start construction by the end of the year. (Source: Xinhua's China Economic Information Service)
S&P raises Italcementi outlook to positive
Standard & Poor's (S&P) has raised its outlook on Italcementi and its French subsidiary Ciments Francais to positive from stable. The BB/B ratings are affirmed. The outlook revision follows the completion of the rating's agency's review of HeidelbergCement's plans to purchase Italmobiliare's 45 per cent shareholding in Italcementi for approximately EUR1.67bn, announced in July 2015. S&P beli...