Cement News tagged under: Holcim
Indian producers issued with record fine on price fixing21 June 2012, Published under Cement NewsEleven Indian cement producers have been issued a total fine of INR60bn (US$1.1bn) for price fixing, the highest ever fine issued by the country’s antitrust authority in its three-year existence. The Competition Commission of India (CCI) said in its ruling that the companies colluded to underuse their plants and create an artificial cement shortage. "The commission has found that the cement companies have not utilised the available capacity so as to reduce supplies and raise prices in tim... |
Fontana sees more swaps in cement reshuffle15 June 2012, Published under Cement NewsHolcim Chief Executive Officer Bernard Fontana said swapping cement production facilities is more likely than outright purchases or sale of individual units, according to Bloomberg reports. Swapping parts of a portfolio with another company would not be more difficult to implement than buying or selling individual units, Fontana told journalists at a meeting in Zurich. Holcim’s CEO has said he is open to “selective divestments,” though he declined to comment specifically on Holcim’s mergers... |
Holcim on track to achieve sustainable targets12 June 2012, Published under Cement NewsHolcim said on Tuesday said it is on track to achieve its sustainability targets. I n the 2011 Holcim Corporate Sustainable Development Report, which features the company's progress against existing targets, Holcim said its self-imposed targets for reducing dust and NOx emissions have been met, and that the company leads in the industry with the lowest CO2 emissions per tonne of cement produced. Holcim also reported that it has improved the Lost-Time Injury Frequency Rate by 79 per cent ... |
Holcim06 June 2012, Published under Cement NewsHolcim's first-quarter turnover improved by 2.2% to CHF4760m (€3922m), which represents an increase of 7.1% on a comparable basis and measured in euros, the turnover advanced by 8.1%. The operating EBITDA eased by 1.1% to CHF745m (€614m), which represents a 4.6% advance in euro terms. The trading profit edged up by 0.5% to CHF349m (€287m), while at the net attributable level there was small profit of CHF10m (€8m), reflecting an improvement of 1.1%, or of 7.0% in euro terms. Net debt at the e... |
Spanish cement woes continue28 May 2012, Published under Cement NewsSpanish cement consumption continues its downward spiral with latest data showing monthly figures hitting a 46-year low as budget austerity and high unemployment continue to inhibit activity. Depressed volumes are now forcing local producers to initiate restructuring and cost-cutting measures as the bottom of the decline is yet to be seen. Following the spectacular burst of the Spanish housing bubble in 1998, the country's residential sector has faced high housing inventory levels and a l... |
Holcim to cut 35% of workforce in Spain23 May 2012, Published under Cement NewsHolcim will have to cut 373 jobs in Spain (equivalent of 35 per cent) of its staff in the country, local press have reported. The Swiss-based major is to shut down part of its production capacity in Toledo and to close its plant in Murcia on the back of declining Spanish demand and a weak outlook. Holcim's Spanish sales have slumped by 63 per cent since 2007. In the first four months of 2012, demand in Spain plunged by 40 per cent YoY. Abstracted from an original article in Cinco Dias. |
JP Morgan ups Holcim price target on US outlook, risks remain21 May 2012, Published under Cement NewsJPMorgan raises Holcim's price target to CHF56.50 from CHF55.20 due to optimism on the outlook for the private building sector in the US. "Much better volumes in cement and great weather has provided some hope for the sector," says analyst Michael Morris. Still "risks remain in India, where Holcim is most exposed," he notes. |
Holcim cost-cutting programme targets CHF1.5bn rise in operating profit14 May 2012, Published under Cement NewsHolcim said on Monday it was launching a targeted cost-cutting programme aimed at increasing operating profit by at least CHF1.5bn (EUR1.2bn) by the end of 2014. CEO Bernard Fontana: “After intensive discussions at the senior management level and based on close collaboration with the Group companies, I am confident that we will achieve these targets. At least CHF150m positive impact will be achieved in 2012.” Under the name, the "Holcim Leadership Journey 2012-2014" the programme focuses o... |
Europe holds back Holcim09 May 2012, Published under Cement NewsHolcim’s first quarter turnover improved by 2.2% to CHF4,760m (€3,922m), which represents an increase of 7.1% on a comparable basis and measured in euros the turnover advanced by 8.1%. The operating EBITDA eased by 1.1% to CHF745m (€614m), which represents a 4.6% advance in euro terms. The trading profit edged up by 0.5% to CHF349m (€287m), while at the net attributable level there was small profit of CHF10m (€8m), representing an improvement of 1.1%, or of 7% in euro terms. Net debt at the... |
Philippines: Holcim to reopen Batangas grinding station03 May 2012, Published under Cement NewsHolcim Philippines is reopening its grinding plant in Mabini, Batangas, next year because of the strong local demand for cement. Holcim said it is optimistic that demand for cement will continue to flourish, especially with the government's infrastructure projects and boom in housing. Upon its reopening in 2013, the grinding plant with an existing capacity of 7.7Mta Holcim will spend around PHP400m (US$9.4m) to rehabilitate the factory with an additional 0.5Mta capacity. The Mabini pla... |