Cement News tagged under: Greece
Lafarge Volos sets up novel wastewater partnership, Greece11 February 2014, Published under Cement NewsLafarge's Volos cement plant in Greece has set up a novel partnership with a local drinks company, allowing it to reuse the company's wastewater in the cement producer’s industrial process. The Volos plant has connected its water network to that of the drinks company, using a nearby pipe previously used to pump water from a now disused bore hole to the plant. Today, waste water from the drinks company is piped directly to the Lafarge works, where it is used in the conditioning tower, be... |
Titan long-term ratings lifted10 December 2013, Published under Cement NewsThe long-term ratings on Greece-based cement producer Titan Cement have been lifted by ratings agency Standard & Poor's (S&P) to 'BB' from 'BB-'. At the same time, it affirmed the 'B' short-term rating on Titan Cement. S&P has removed all the abovementioned ratings from CreditWatch, where Titan was placed with positive implications on 26 November, 2013. The outlook is stable. Titan Cement's stand-alone credit profile is 'bb', based upon S&P’s assessment of the group's business risk ... |
Titan helped by stronger US performance14 November 2013, Published under Cement NewsTitan's turnover increased by 4.9 per cent to EUR888.3m in the first nine months of 2013, but the EBITDA declined by 5.5 per cent to EUR153.6m. However, the third quarter did see a 21.9 per cent improvement in the EBITDA. There was no credit from the sale of emission rights compared with a EUR24m gain at this stage last year in respect of Greece and Bulgaria. The trading profit for the nine months was 6.7 per cent lower at EUR65.2m and, after a 55.1 per cent jump in net financial charges,... |
Titan's European profitability suffers02 August 2013, Published under Cement NewsTitan's first-half turnover improved by 4.4 per cent to €571.9m but the EBITDA fell by 17.8 per cent to €92.2m as European profitability continues to suffer. The trading profit fell by 36.6 per cent to €32m, but the net financial charge, that had dropped by 54.9 per cent to €20.5m a year ago, more than doubled to €44m. As a result, there was a pre-tax loss of €12.4m compared with a profit of €29.5m and the net attributable loss amounted to €21.8m. Capital investment recovered by 5.7 p... |
Titan recovers in the USA15 May 2013, Published under Cement NewsTitan's first-quarter turnover showed a 7.8 per cent improvement to €243m while the EBITDA fell by 29.4 per cent, in line with the 29.3 per cent reduction seen this time last year, to €24.3m. The pre-tax loss rose by 33.5 per cent to €23.5m and the net attributable loss rose by 39.7 per cent to €27.1m. Net debt at the end of March, however, declined by 20.1 per cent to €630m, giving a gearing level of 41.6 per cent, compared with 48.6 per cent a year earlier. Group cement shipments ro... |
Goldman Sachs upgrades Titan, Greece05 April 2013, Published under Cement NewsGoldman Sachs has upgraded Titan Cement Co to neutral from sell, Dow Jones reports. While the investment bank remains cautious on Titan's end markets in the near term, it says consensus FY13/14 EBITDA expectations have decreased by 10 per cent year-to-date and there is no longer such a significant difference versus Goldman's estimates. Titan's turnover recovered by 3.6 per cent last year to EUR1130.7m, following the 19.2 per cent drop in the previous year. The EBITDA, however, continued ... |
Greece opposition party meets with Heracles employees05 April 2013, Published under Cement NewsThe general secretary of Greece’s Opposition Communist Party of Greece (KKE), Aleka Papariga, has met with representatives of the Heracles Cement plant at the party's headquarters in Perissos and expressed solidarity with those being made redundant following news of the cement plant's permanent closure. The KKE stated that the sector's trade unions, as well as related sectors, should offer their backing to workers who were laid off, Athens News Agency reported. Last month, Lafarge's Greek ... |
Heracles to permanently close Halkis cement works, Greece27 March 2013, Published under Cement NewsHeracles Cement, the largest cement producer in Greece, is to permanently close the doors on its Halkis cement plant as the company restructures its business to adjust to the struggling domestic construction and cement sectors. The 2.6Mta Halkis plant has been idle since July 2011 and management have now made the decision to officially cease operations, as of 26 March 2013. The closure will result in job losses for 236 members of staff. The company stated that: “This decision comes afte... |
Titan Cement denies headquarter move12 March 2013, Published under Cement NewsTitan Cement has denied reports in the press that it is moving its headquarters from Greece. In response to reports on online and printed media the country's second-largest cement producer said in statement released yesterday that: "it is not within its intentions to move its headquarters from Greece.” Last week, Titan reported that demand for building materials in its troubled domestic market declined by about 35 per cent YoY in 2012. “The severe recession of the Greek economy has direct... |
Titan's profits decline, except in the USA05 March 2013, Published under Cement NewsTitan Cement of Greece reported a 3.6 per cent recovery in turnover for 2012 to €1130.7m, following the 19.2 per cent drop in the previous year. EBITDA, however, continued its double-digit decline and fell by 19.8 per cent to €195.8m. While consumption in its home market of Greece has fallen to less than a quarter of the 2006 peak level, Titan has witnessed a reversal in fortunes in its US operations. In spite of a swing from a €11.9m loss on foreign exchange to a €1.5m profit, there was ... |