Cement News tagged under: Corporate
Saudi listed firms see first-half net profits decline06 August 2014, Published under Cement NewsProfits of listed Saudi cement companies dropped by 6.6 per cent to SAR3.40bn (US$906m) compared with SAR3.64bn in the corresponding period last year, a report, filed by Al-Riyadh daily has revealed. In the second quarter, profits declined by 2.7 per cent to SAR1.77bn in the second quarter of 2014 Sales reached SAR3.66bn in the three months to the end of June 2014, while the cost of sales stood at SAR1.72bn, bringing revenues to nearly SAR1.94bn. |
Lafarge & Holcim propose Brazilian divestments05 August 2014, Published under Cement NewsLafarge and Holcim have published a list of proposed asset disposals to Brazilian Competition authority CADE, as part of efforts to help win regulatory approval for their planned merger. The joint Divestment Committee has agreed to propose a package of assets from both Holcim and Lafarge which include three integrated cement plants and two grinding units (with a total cement capacity of 3.6Mta) as well as one ready-mix plant, all located in the southeastern region of Brazil. The proposed... |
Vicat advances in spite of weakness in France05 August 2014, Published under Cement NewsVicat's first half turnover increased by 6.1 per cent to EUR1217.8m, which amounts to a 10.8 per cent advance on a comparative basis. EBITDA was ahead by 3.1 per cent to EUR207.7m and the margin narrowed from 17.5 per cent to 17.1 per cent. The trading profit, however, improved by 9.4 per cent to EUR115.2m, an underlying increase of 15.8 per cent. After a net financial charge 38.2 per cent higher at EUR29.7m and a 20 per cent decline in the income from associates to EUR1.7m, the pre-tax p... |
KHD adjusts 2014 forecast, Germany05 August 2014, Published under Cement NewsKHD Humboldt Wedag has adjusted its forecast for the 2014 financial year as its Capex segment has been strongly affected by “risks arising from the current economic and political developments,” according to a statement by the German equipment supplier. In connection with the crisis in the Ukraine and the resulting uncertainties, KHD highlighted that a large order in Russia will “most likely no longer be considered as order intake for the current year.” This order was announced in April 2014... |
Cemex expected to receive EU clearance for Holcim Spain assets05 August 2014, Published under Cement NewsEuropean Union antitrust regulators are expected to approve Cemex’s bid to acquire Holcim’s Spanish units without requiring concessions from the Mexican producer, a source told Reuters on Monday. Cemex has convinced the European Commission that the deal will not reduce competition in Spain, a person familiar with the matter told the news agency. Another source had previously told Reuters earlier this month that the Commission had objected to the deal. Last month the European Commission... |
Mongolia: Senj Sant receives EBRD loan05 August 2014, Published under Cement NewsThe European Bank for Reconstruction and Development (EBRD) has signed a deal to loan Senj Sant US$65m for a new greenfield cement plant in southern Mongolia, about 450km from the capital Ulaanbaatar. The agreement, signed at a ceremony recently by EBRD First Vice President Phil Bennett, follows an earlier US$20m equity investment for a stake in Senj Sant agreed in May 2013. “This project represents yet another step towards the diversification of Mongolia’s economy,” Mr Bennett said at the... |
Buzzi Unicem: Italy still declining04 August 2014, Published under Cement NewsBuzzi Unicem's first half turnover improved by 2.7 per cent to EUR1180.7m and the EBITDA rose by 27.7 per cent to EUR138.5m. The depreciation and impairment charges include EUR30.9m in respect of writing off the goodwill in the Ukraine. The first half trading profit recovered from EUR3.1m to EUR14.1m and the interest charge declined by 1.2 per cent to EUR47m and the pre-tax loss was reduced from EUR26m to EUR11.1m. After a tax charge 9.1 per cent higher at EUR9.7m and a minorities charge ... |
Cementos Portland sees improvements in Spain, Tunisia and USA04 August 2014, Published under Cement NewsCementos Portland Valderrivas' turnover fell by 3.8 per cent to EUR259.9m in the six months to the end of June, reflecting the effects of non-profitable concrete, aggregate and mortar businesses in Spain being closed. Cement voulmes rose by more than five percent last year, of which international markets account for 63 per cent of sales, most notably in Tunisia and the US. While demand in the company's domestic market of Spain continues to decline, the group said results have improved... |
Holcim Indonesia secures IDR4bn loan04 August 2014, Published under Cement NewsPT Holcim Indonesia has secured a IDR400bn (US$34.09m) loan from Bank Sumitomo Mitsui Indonesia which it plans to use for working capital, Reuters quoted the cement producer's CEO, John Ginley, as saying. The firm is currently working on Tuban Line II in East Java, with a capacity of 1.7Mta, which is expected to start operations in the first quarter of 2015. The new line is identical to Tuban Line I which was officially launched last month. First-half performance Gross profit was margina... |
McInnis Cement completes financing for Port-Daniel plant, Canada04 August 2014, Published under Cement NewsMcInnis Cement has announced the completion of the financial structure for its cement plant in Gaspé, Canada. National Bank of Canada, as sole bookrunner of the bank syndicate, has confirmed the availability of a US$360m loan for the project. This amount is in addition to the US$500m in equity from private and public investors including the joint venture formed by the groupe Beaudier and La Caisse de dépôt et placement du Québec, as well as the participation of Investissement Québec (IQ). ... |