Cement News tagged under: Holcim
India first quarter market expectations20 July 2012, Published under Cement NewsIndian cement companies are expected to post higher net profits and sales in the first quarter of the current fiscal (April-June FY13) thanks to improved prices and higher demand. However, gains in profits for most cement companies will be impacted by rising costs owing to higher railway-freight charges. Besides, rupee depreciation will increase the cost of imported coal, a key raw material and fuel for the industry, according to brokerage Kotak Securities. Market expectations for... |
ACC seen posting 12 per cent rise in 1QFY13 net profit19 July 2012, Published under Cement NewsACC is likely to post a 12 per cent YoY rise in net profit at INR3.78bn for the first quarter of the current fiscal (FY12-13), according to the average of 22 brokerages' estimates, Moneywire reports. India’s second-largest producer, in which Holcim holds a 50.3 per cent stake, is expected to post a 13 per cent rise in net sales for the quarter at INR27.25bn. On a QoQ basis, net sales are seen declining five per cent. However, net profit Apr-June is not strictly comparable with the previou... |
Huaxin Cement expects H1 net profit to drop 50%, China12 July 2012, Published under Cement NewsHuaxin Cement Co Ltd, in which Holcim holds an approximate 42 per cent stake, has become the latest Chinese producer to issue a first-half profit warning. The Hubei Province-based cement manufacturer said on 9 July that its net profit is expected to fall by at least 50% YoY in the first half of 2012 due to a decline in cement prices. The company booked CNY542m in net profit in the same period of 2012. Last year, Huaxin Cement acquired three plants in the province of Hubei with a capacity... |
Holcim inaugurates new Garadagh line, Azerbaijan10 July 2012, Published under Cement NewsPresident Ilham Aliyev of Azerbaijan has attended the official inauguration of Holcim’s new dry-process line at its Garadagh cement plant in Baku. The new 1.7Mta kiln replaces the existing wet-process production and involved an investment of EUR300m. The modernisation project will enable higher production volumes, lower fuel and energy consumption and reduce emissions from the cement manufacturing process. The first clinker was produced by this new line at the end of last year. ... |
Holcim: June '1206 July 2012, Published under Cement NewsHolcim's two main Indian subsidiaries, Ambuja Cements and ACC Limited, have been fined at total of approximately EUR325m, or INR2301 crores, by the Honourable Competition Commission of India. This represents some 36 per cent of the total INR6304 crores (EUR891m) levied on eleven leading Indian cement producers. The fines have been based on the profits generated in 2009/10 and in 2010/11 and the biggest fines were imposed Holcim and UltraTech, while Lafarge and a further six domestically con... |
Holcim Indian cement interests see modest YoY gains03 July 2012, Published under Cement NewsHolcim’s Indian cement companies, ACC and Ambuja Cements have reported modest rises in June shipments and production in June. ACC said shipments in June reached 1.96Mt, up 2.6 per cent from the 1.91Mt a year ago but lower than the 2.05Mt recorded in May. Cement production during June rose 4.23 per cent to 1.97Mt from 1.89Mt a year ago but fell from 2.02Mt in May. During Jan-June, ACC dispatched 12.79Mt of cement compared to 12.18Mt in the corresponding period a year ago. Production dur... |
Defending profitability key for European companies03 July 2012, Published under Cement NewsFitch Ratings says that the ability to defend profitability in emerging countries is the most critical issue for the rating of the European cement companies rated by the agency, Holcim Ltd. ('BBB'/Stable), Lafarge SA ('BB+'/Stable) and HeidelbergCement AG ('BB+'/Stable). In its special report, Fitch compared the current financials of the major European cement companies to the pre-crisis situation to assess if and how geographical diversification helped companies to recover revenue and prese... |
Moody's says CCI ruling to hurt Holcim & Lafarge26 June 2012, Published under Cement NewsMoody's has said the Competition Commission of India's (CCI) decision to impose a penalty on 11 cement producers is 'credit negative' for global cement majors Holcim and Lafarge both of which have Indian interests that have been fined. The agency said that the indirect consequences of the CCI decision is more harmful than the cash-outflow due to the penalty. "We believe that indirect credit consequences from the decision will outweigh the cash effect of the fines on Holcim and Lafarge,"... |
Holcim investor sells CHF320m stake, Switzerland25 June 2012, Published under Cement NewsHolcim's third largest investor, The Capital Group Companies, sold a CHF320m (US$333m) stake in the Swiss maker of cement on 20 June. The asset manager now owns 2.96 per cent, Holcim said in a press release, down from 4.9 per cent as of 13 September, data compiled by Bloomberg show. The Capital Group Companies share sale was completed on June 20, according to a statement from the Swiss SIX stock exchange. |
Holcim to contest Indian price fixing fine22 June 2012, Published under Cement NewsHolcim has said will defend the position of its two Indian units on the penalties imposed by the Competition Commission of India (CCI) for price fixing. Yesterday, the CCI announced that it would fine 11 Indian producers a total of US$1.1bn, stating that they had created an artificial cement shortage “so as to reduce supplies and raise prices in times of higher demand," it said in its judgment. The ruling applies to Holcim group companies ACC and Ambuja Cements (ACL), which have been fi... |