Cement News tagged under: Holcim
Holcim profit leaps, sales below expectations16 August 2013, Published under Cement NewsHolcim’s first-half results were boosted by higher net income but sales disappointed, particularly in India, the group's key market in Asia. For the full-year, the Swiss major now expects more muted earnings growth than previously forecast. For the first six months to the end of June, Holcim's turnover declined by 5.1 per cent to CHF9649m, or by 6.9 per cent in euro terms to EUR7847m. The running EBITDA was 3.4 per cent lower at CHF1819m while the trading profit eased by 3.3 per cent to CH... |
Cost cuts help Holcim 2Q net profit edge ahead15 August 2013, Published under Cement NewsHolcim has reported a slight increase in 2Q net profit as cost cuts helped boost profitability but weaker demand in India, Canada and Mexico fell short of expectations. Net income edged up to CHF383m (US$411m) from CHF377m a year earlier. Revenue fell 3.3 per cent to CHF5.33bn in the three months through June as Ambuja Cements Ltd, its Indian subsidiary, struggled with an early monsoon season and weaker-than-expected economic growth in the country. Last month, Holcim restructured it... |
Holcim streamlines Indian operations25 July 2013, Published under Cement NewsHolcim is to increase its shareholding in Ambuja Cements as part of the Swiss major's strategy to restructure and streamline its operations in India. Through intragroup restructuring, Holcim will increase its shareholding in Ambuja Cements to 61.39 per cent and Ambuja in turn will acquire Holcim’s 50.01 per cent stake in ACC Ltd. Both Ambuja and ACC will continue to operate as separate entities with their own brands and go-to-market strategies. Holcim said the restructuring “will allow for... |
Harris Associates builds up stake in Holcim, Switzerland23 July 2013, Published under Cement NewsHolcim said Chicago-based asset manager Harris Associates LB acquired shares in the Swiss cement major and now owns a stake worth CHF654m (EUR530m) Harris notified that it owned 3.04 per cent of Holcim's shares, therefore making it the third-largest shareholder in the Swiss cement major. |
Holcim to restructure Indian operations?03 July 2013, Published under Cement NewsHolcim is reportedly planning to restructure its Indian operations which could see the merger of its two local subsidiaries, ACC and Ambuja Cements. Citing various sources familiar with the situation, the Economic Times of India reported that the Swiss cement major has called on a global investment bank to evaluate various options on how the two operations could be combined. Holcim owns a 50.3 per cent stake in both ACC and Ambuja Cements, the second and third-largest cement producer in I... |
HSBC sees robust recovery in ROI at Holcim03 July 2013, Published under Cement NewsHSBC lifts Holcim to overweight from neutral, saying it sees a buying opportunity in cement stocks after a recent falling of share prices. The bank also sees a robust recovery in return on invested capital at Holcim. It reduces target to CHF77 from CHF80. |
Siggenthal cement works shifts to lignite, Switzerland02 July 2013, Published under Cement NewsHolcim’s Siggenthal cement works in Switzerland is changing over its fuel supply from anthracite to lignite. It is expected to require around 1500t per week to fuel its kiln. The lignite is supplied as pulverised coal from Europe by rail and once at the plant, it is stored in a new steel silo of 55m high and 10m diameter, constructed for the purpose by the cement producer. Two additional railway tracks have also been built. |
Holcim to sell its operations in New Caledonia18 June 2013, Published under Cement NewsHolcim will sell its operations in New Caledonia (Holcim Nouvelle Calédonie SA) to Tokuyama Corporation of Japan for an undisclosed amount. Holcim Nouvelle Calédonie SA, which runs a 200,000tpa grinding plant, has always been “slightly isolated from the rest of the group’s assets,” the company said in statement, making this divestment a strategically viable solution. Tokuyama will acquire 74.1 per cent of issued ordinary shares owned by Holcim (Outre-Mer) SAS. The transaction is schedule... |
Holcim Philippines gets go-ahead for new plant09 May 2013, Published under Cement NewsHolcim Philippines has received approval from its Swiss parent company to construct a US$550m cement plant in Bulacan, to support brisk private and public-sector investment. Speaking to local press, the company's CEO, Ed Sahagun, said the new plant will have a capacity of 2.5Mta and is expected to come on-stream in 2016. “The timing of the construction of new plant is perfect because the country is doing well in a lot of aspects,” Mr Sahagun said. The company is currently resuming oper... |
Cost cuts, improved pricing boost Holcim 1Q08 May 2013, Published under Cement NewsHigher prices, cost savings from its efficiency programme as well as the sale of a stake in Cement Australia helped Holcim compensate for harsh first-quarter winter weather which dragged on sales. Consolidated net sales for the first three months of the year were 7.2 per cent lower at CHF4.3bn (EUR3.5bn) and operating EBITDA fell by 9.5 per cent to CHF650m, the main reason for which, Holcim noted, was the lower performance by both Indian group companies. However, better results were achie... |