Cement News tagged under: Corporate
EC extends deadline for Cemex decision31 July 2014, Published under Cement NewsThe European Commission has extended the deadline for its decision on whether to clear or block the deal from 5 September to 12 September 2014. A source told Reuters earlier this month that the Commission had objected to the deal after a preliminary review showed that it would significantly reduce competition in certain parts of Spain. Cemex had submitted its concessions on Monday, the EU watchdog said on its website, without providing details in line with its policy. It h... |
Holcim's turnover brought lower by exchange rates30 July 2014, Published under Cement NewsHolcim's cement deliveries improved by two per cent to 70Mt in the first six months, and the underlying advance was 2.8 per cent. Sales of other mineral components recovered by 7.6 per cent to 1.8Mt. Shipments of aggregates edged ahead by 0.2 per cent to 69.6Mt and ready-mixed concrete deliveries declined by three per cent to 18.1Mm³, while asphalt sales rose by 21.8 per cent to 4.1Mt. Turnover declined by 6.1 per cent to CHF9,649m, or by 5.4 per cent in euro terms to EUR7,419m, while on ... |
HeidelbergCement improves net profit by 53.5%30 July 2014, Published under Cement NewsHeidelbergCement's first half turnover increased by 2.1 per cent to EUR6318m and the EBITDA improved by 2.1 per cent to EUR927.6m while the trading profit advanced by 8.9 per cent to EUR566.2m. After a net interest charge 3.2 per cent lower at EUR244.7m and other financial items, the pre-tax profit rose by 35.4 per cent to EUR275.4m and the net attributable profit grew by 53.5 per cent to EUR86.8m. Net debt at the end of June was 0.3 per cent lower than a year earlier at EUR8018m, giving ... |
Cementir's growth impeded by the strong euro30 July 2014, Published under Cement NewsCementir's turnover emerged just 0.1 per cent ahead at EUR472.8m in first half of the year, as the improvement in Denmark and Norway was offset by currency weakness and the continuing decline in Italy. EBITDA, however, rose by 26.4 per cent to EUR78.4m and was helped by a 7.8 per cent reduction in depreciation and similar charges. The trading profit was more than doubled and jumped ahead by 112 per cent to EUR37.6m. The net financial charge was jumped from EUR2.8m to EUR7.3m, resulting in... |
Molins more than doubles first-half profit30 July 2014, Published under Cement NewsCementos Molins recorded a profit of EUR17.9m in the first half of 2014, effectively more than doubling its 1H13 figure, on the back of its international business, said the company. The cement company increased its overseas profit by 2.9 per cent to EUR31.6m, but its Spanish subsidiaries recorded a EUR13.6m loss, 39 per cent below the 1H13 level. In the first six months of 2014, consolidated turnover fell 6.7 per cent to EUR248m. In Spain, revenues increased 10.7 per cent due to improved... |
Martin Marietta's net profit trebles30 July 2014, Published under Cement NewsMartin Marietta Materials, the fourth-largest US aggregates producer, has announced a first-half turnover 161.9 per cent ahead at US$1097.8m and the EBITDA improved by 23.8 per cent to US$163.8m. The trading profit rose by 73.4 per cent to US$80.3m and after a net interest charge that was 7.4 per cent lower at US$25.1m, the pre-tax profit emerged at US$52.0m compared with US$19.1m and the net attributable profit virtually trebled to US$26.5m. Net debt at the end of June was less than ... |
Holcim Philippines 1H14 net profit up on strong sales29 July 2014, Published under Cement NewsHolcim Philippines booked a net profit of PHP3.32bn (US76.5m) in the first half of 2014, up 8.7 per cent compared to the same period of last year. The country’s largest cement producer registered record sales as construction activity went into full swing during the summer months. Second-quarter revenues rose YoY by 8.5 per cent to PHP1.8bn. “On top of the sustained government and private sector spending, we now see some major Private-Public Partnership projects being implemented in the ... |
Israel: antitrust moves to increase competition29 July 2014, Published under Cement NewsIsrael’s antitrust authority is taking steps to introduce competition in the domestic cement market by calling on the country’s dominant producer to make a plant disposal or adjust discounts to its largest customers. Antitrust Commissioner David Gilo has outlined plans to force Nesher to sell its Har Tov plant which produces about 1Mta of cement and accounts for about 30 per cent of domestic sales. Should Nesher fail to sell the cement works, the company would have to drop the discounts it... |
Chettinad increases holding in Anjani Portland Cement, India29 July 2014, Published under Cement NewsChettinad Cement Corp has increased its holding in Anjani Portland Cement to 66.08 per cent by acquiring a 17.08 per cent share through an open offer. In March, the company had entered into a share purchase agreement to acquire a 61.74 stake in Anjani Portland. Chettinad Cement has said that its agreement with promoters of Anjani Portland has a built-in flexibility to ensure that its holding is limited at 75 per cent, the maximum allowed for a firm to remain listed. The move helps Chet... |
UCC first-half net profit surges, UAE28 July 2014, Published under Cement NewsUnion Cement Company (UCC) net profit surged 181 per cent to AED59.4m (US$988,165) in the first half of 2014 compared to AED21.15m in 1H13. In its statement to the Abu Dhabi Securities Exchange UCC said its second quarter results showed a net profit of AED41.25m versus AED15.5m during the same period of last year. |