Cement News tagged under: Weekly Newsletter
European Commission gives green light to HeidelbergCement's Italcementi acquisition27 May 2016, Published under Cement NewsHeidelbergCement has received clearance from the European Commission for the acquisition of Italcementi. The European authority accepts the proposed divestment of operations in Belgium, i.e. Italcementi’s local subsidiary Compagnie des Cements Belges SA (CCB), to avoid anti-competition issues in Europe. “We are very pleased with the positive decision of the European Commission”, says Dr Bernd Scheifele, chairman of the Managing Board of HeidelbergCement. “This decision is an important mil... |
US performance gives Cementos Argos strong 1Q1627 May 2016, Published under Cement NewsIn the 1Q16 Cementos Argos reported an income of COP2.2trn (US$720.1bn), up 334 per cent compared to the same period in 2015. EBITDA ascended to COP425bn, a 38 per cent increase, while the EBITDA margin increased 60 basic points to close at 19.2 per cent. In March the company paid two loans acquired in 2015 with Banco de Crédito del Perú, totalling COP100bn. With this transaction, Grupo Argos' debt was COP1.55trn. The US regional division had outstanding performance thanks to better ... |
Italy: Consolidation needed as consumption forecast to remain depressed27 May 2016, Published under Cement NewsWith the European Commission having this week given the go-ahead to HeidelbergCement’s acquisition of Italcementi, Italy’s largest cement producer is set to become even less dependent upon what was until now its home market. Since 2007 Italcementi's domestic market has contracted from a peak consumption of 46.4Mt nine years ago to 19.6Mt in 2015, with demand predicted to be flat in 2016. The Italian cement producers’ association, AITEC, predicts that consumption will remain below 23Mt until ... |
Malaysia: Lafarge takes 1Q16 hit on net profits26 May 2016, Published under Cement NewsLafarge Malaysia Bhd is optimistic about its prospects this year despite having had a challenging 1Q16. The company's net profit fell nearly 72 per cent to US$5m in the first quarter of this year from US$17.9m in the same period a year earlier. President and CEO, Thierry Legrand, attributed this to lower contribution from the cement segment, following continued price competition and one-off integration costs following the acquisition of Holcim (Malaysia) Sdn Bhd. "But are we are well-po... |
India: HeidelbergCement 4Q FY16 margins up 16.5%25 May 2016, Published under Cement NewsOperating margins of HeidelbergCement India jumped 18 per cent in the fourth quarter of FY16 compared to 16.5 per cent in the same period last year. Speaking to CNBC TV, said Jamshed Naval Cooper, CEO and MD of HeidelbergCement India said, "Lower pricing on the revenue front and improved operating efficiencies helped the company post good results in the 4Q of FY16." "For the fourth quarter the volume has been up by about two per cent. The costs have been lower by about 3.9 per cent. On ... |
Brazil: LafargeHolcim opens new production line in Barroso24 May 2016, Published under Cement NewsLafargeHolcim has begun production at a new line in its Barroso plant in the state of Minas Gerais, Brazil. The new line raises the plant's capacity to 3.6Mta. Equipment includes the world's largest vertical cement mill, with 450tph production capacity as well as a Horomill for raw material grinding with low power consumption, and a fully-automated quality control laboratory. The new line will allow the reduction of total costs per tonne of cement by around 25 per cent from 2014 to 2017. ... |
China: West China Cement to agree to Anhui Conch ownership24 May 2016, Published under Cement NewsYesterday, shares in West China Cement rose nearly six per cent on news that a sufficient majority of option-holders had agreed to an acquisition by largest listed Chinese peer, Anhui Conch Cement, reports the Australian Financial Review. The deal should have the government's blessing as further consolidation is needed in the sector. Last week, the State Council reiterated its desire for a more concentrated industry. It wants the top 10 players to control three-fifths of capacity by 2020. ... |
Spain: April cement demand contracts 3.3%23 May 2016, Published under Cement NewsCement consumption in Spain fell 3.3 per cent YoY in April, slipping to 946,329t, according to Oficemen. The latest data bring the figures for the first four months of 2016 to 3,512,140t, reflecting a decrease of 1.2 per cent YoY. Oficemen attributes the decline particularly to public works, which, according Oficemen’s director general, Aniceto Zaragoza, "is being much worse than expected and does not correspond to the approved by government budgets, which means there is a slowdown of... |
Philippines 1Q16 cement sales up 13%20 May 2016, Published under Cement NewsPhilippines cement sales increased by 12.8 per cent YoY in the first quarter of 2016, according to Ernesto Ordoñez, President of the Cement Manufacturers' Association of the Philippines (CeMAP). Volumes rose from 5.7Mt in 1Q15 to 6.43Mt. "Demand will continue to be strong, especially with presumptive President Duterte saying that infrastructure will remain a high priority during his administration," said Mr Ordoñez. For this year, the Aquino administration has allotted an infrastructure... |
India: Positive outlook for growth, but challenges remain20 May 2016, Published under Cement NewsCement consumption in India doubled between 2005 and 2015, but still lags behind China’s at a comparable stage of development. In 2001, the World Bank calculations put China’s GDP per capita at US$1212 in inflation-adjusted terms. Using the same methodology, India’s current GDP per capita is slightly higher than China’s was then: in 2014, India’s GDP per capita reached US$1234. Do these figures suggest that India is a decade or so away from exercising the same sort of economic muscle that... |