Cement News tagged: Corporate
China Resources Cement profit down by 44.4%
China Resources Cement (CRC) reported a 44.4 per cent loss in net profit attributable to shareholders last year to HK$2.32bn (US$299m). In 2012, the firm's turnover rose 9.1 per cent from a year earlier to HK$25.35bn. The sales volume of cement and clinker surged by 26.5 per cent and 36 per cent, respectively. The average cement price, however, decreased 12.23 per cent to CNY324.3/t while cli...
Lower revenues and higher costs hurt QNCC net profit
Qatar National Cement (QNCC) reported a seven per cent decline in 2012 net profit on the back of lower revenues and higher costs. Net profit for the 12 months to the end of December 2012 fell to QAR425.31m (US$116.8m) while revenues were down three per cent to QAR964.28m. The company also registered an eight per cent rise in selling and distribution costs to QAR8.64m, general and administra...
Vicem Hoang Mai Cement seeks to raise 2013 pretax target, Vietnam
Vicem Hoang Mai Cement JSC is seeking approval from its parent company Vietnam Cement Industry Corporation (Vicem) to revise its 2013 pretax target upwards by 4.65 per cent. The company hopes to raise its target to VND90bn (US$4.29m) from the initial VND86bn, its chief accountant, Tran Minh Son, told the Dau Tu Chung Khoan newspaper. Last year Hoang Mai Cement achieved a net profit of VND112...
Boral consolidates Australian construction and cement divisions
Building materials producer Boral Ltd has said it will consolidate its Australian construction materials and cement segments into one Australian division as part of ongoing restructuring initiatives. As a result of the merger, Joseph Goss has been appointed Divisional Managing Director, Boral Construction Materials and Cement, effective 1 April 2013. Mr Murray Read’s position of Divisional ...
South Africa’s cement industry body to close
South Africa’s Cement and Concrete Institute (C&CI) is to close down following the withdrawal of funding from some of the key funding members, local producer AfriSam disclosed in a statement on Friday. AfriSam said it believes in the value that the C&CI offered the construction industry and explored various other options in an effort to sustain this industry body. "Unfortunately, no soluti...
HASLE Refractories opens India subsidiary
HASLE Refractories A/S, former FLSmidth company, has established a subsidiary in Hyderabad, India. HASLE Refractories India Pvt Ltd will be headed by Mr Sumanta Mukhopadhyay, who has more than 20 years of experience in industry. Harpreet Singh, former agent for HASLE Refractories in India, has been designated as group senior advisor with special tasks in the Middle East. Owner of HASL...
Holcim ahead despite Europe slowdown
Annual results released by Holcim earlier this week show that cement sales for the Swiss major in 2012 were ahead in spite of lower European volumes and political instability in the Middle East. Turnover during the year rose by 3.9 per cent in 2012 to CHF21,544m and in euro terms the increase was 6.4 per cent to EUR17,867m. Operating EBITDA improved 6.2 per cent to EUR3502m before restructu...
Bamburi Cement 2012 pretax profit down 15%
Bamburi Cement has reported a 15 per cent decline in pretax profit for full year 2012 to KES7.17bn (US$83m) as it is impacted by lower gains on its foreign currency holdings, Reuters has reported. Bamburi Cement, which is part of the Lafarge group, said turnover edged up four per cent to KES37.bn but higher costs drove operating down 14 per cent. "The group anticipates underlying cement ...
Russia’s Antimonopoly Service blocks Siberian deal
Russia’s Federal Antimonopoly Service (FAS) has disallowed a deal for cement producer Russkyaya Tsementanaya Kompania to acquire a 100 per cent shareholding in fellow cement producer Iskitimtsement, according to local press reports. In its ruling, the FAS said it believed the deal would result in limited competition in the Siberian cement market and increased prices, SKIRIN news agency repo...
Tongli Cements reports decline in 2012 profit
Henan Tongli Cement has reported a 2.38 per cent decline in operating revenue for 2012 to CNY4.12bn (US$661m). The company's net profit for 2012 fell 31.79 per cent YoY to CNY164m, with basic earnings per share of RMB 0.5, according to reports in China Business Newswire. Tongli Cement plans to convert three shares from the capital surplus for every ten shares based on its share capital of ...
Holcim Philippines sees surge in full-year net profit
Holcim Philippines has reported an 80 per cent YoY rise in net profit as it gains from improvements in operating and process efficiencies as well as a strong rebound in local demand. Net profit for the 12 months to the end of December 2012 climbed to PHP3.63bn from PHP2.03bn the year before. Revenues also rose 25.62 per cent from PHP21.62bn to PHP27.16bn. The company’s chief executive of...
Cementos Portland books capital gain from stake swaps, Spain
Spain-based cement producer Cementos Portland Valderrivas has booked a capital gain of EUR115.6m following the asset swap of its shareholding in Cementos Lemona for Cementos Uniland with CRH. The capital gain was divided into two lots: the first, totalling EUR100m, came from the exchange of the shares owned by Portland in Lemona for a 26.3 per cent stake in Uniland. The other EUR15.6m came...
CRH chief announces retirement by end-2013, Ireland
CRH plc, the international building materials group, announces that Myles Lee, Group chief executive, has confirmed to the board his intention to retire from CRH at the end of 2013 having reached the age of 60, and following completion of a five year term as chief executive and 10 years as an executive director. Myles joined CRH in 1982, joining the Board in November 2003 as Finance Directo...
CRH boosts American profitability
CRH's turnover improved by 3.2 per cent last year to €18,659m while the EBITDA was off by one per cent to €1640m. There were 36 acquisitions during the year and the outlook for acquisition opportunities is deemed positive. Trading profit declined by three per cent to €840m and after other charges, including a net interest charge 12.7 per cent higher at €258m and a €230m gain on disposals, comp...
HeidelbergCement expands cement capacity in Tanzania
In Tanzania, HeidelbergCement is constructing a new mill with a cement capacity of 0.7Mta at its Wazo Hill plant, some 2km northwest of the capital Dar es Salaam. The investment of US$40m also includes the construction of a new clinker and a cement silo as well as the installation of new cement bag packing and dispatch facilities. “The construction of the new cement mill is part of our strat...
Holcim less optimistic on European construction market
Holcim said on Wednesday that it was less optimistic about the prospects for the European construction market in 2013 as it reported worse-than-expected earnings for its fourth quarter. "While group regions Asia Pacific, North America and Latin America are expected to witness higher sales volumes, Holcim is somewhat less optimistic with regard to Europe and Africa Middle East," the Swiss com...