Cement News tagged under: Weekly Newsletter
HeidelbergCement reduces refinancing needs by further €500m26 October 2015, Published under Cement NewsHeidelbergCement has taken another step to optimise the financing of the Italcementi acquisition. The volume of the bridge financing could be reduced by further EUR500m from EUR3.8bn to EUR3.3bn. The refinancing needs in the bond market declined by EUR500m to around EUR2.5bn, correspondingly. Decisive for the reduction of the financing volume was that some of Italcementi’s creditor banks have agreed to waive their change of control clauses. As a consequence, HeidelbergCement will have acc... |
Spain: monthly demand up but slowdown noted23 October 2015, Published under Cement NewsSpain’s cement consumption in the first nine months of 2015 increased by 4.8 per cent, but the growth rate decelerated in the past three months, according to Oficemen, the country’s cement association. At the end of June 2015, the market expanded by 8.6 per cent. The slowdown in growth has been attributed to a drop in public works. While September demand posted an increase of 3.1 per cent to 982,379t, the CEO of Oficemen, Aniceto Zaragoza expressed his concern: "We are witnessing with gre... |
CNBM issues 9M15 profit warning22 October 2015, Published under Cement NewsChina National Building Materials (CNBM) warned investors that its nine-month profit will likely plunge 80 per cent from a year earlier, implying that 3Q15 slipped into losses. CNBM blamed weak cement prices driven by a slowdown in demand and severe industry overcapacity. Barclays notes the profit alert points to a loss of CNY0.02 per share in the third quarter. It said that the profit warning is disappointing as it indicates cement prices in 3Q15 were weaker than expected by market. The ... |
Malaysia: C&CA marks 50th anniversary milestone22 October 2015, Published under Cement NewsThe Cement and Concrete Association of Malaysia (C&CA) has celebrated its 50th anniversary with an event officiated by International Trade and Industry Minister, Mustapa Mohamed. During the event, the Minister highlighted that the Malaysian cement industry is expected to see reasonable growth in the next two to three years with support from the major government infrastructure development projects. "Although demand for high-end residential units had softened, the government is continuously p... |
ACC sees subdued July-Sept volumes and pricing21 October 2015, Published under Cement NewsLafargeHolcim Indian subsidiary ACC reported flat volumes and subdued selling prices for the July-September 2015 quarter as construction activity and cement demand remained weak during monsoon season. Turnover during the period stood at INR2740 crore, virtually flat from the same period of last year. Operating EBITDA fell to INR313.20 crore versus INR379.08 crores in July-Sept 2014. While sales remained flat, there was a reduction in energy costs. During the quarter, a provision was also m... |
PCA: US cement industry records its most energy efficient year yet21 October 2015, Published under Cement NewsThe amount of energy required to produce 1t of cement decreased 1.1 per cent in 2014 from the previous year’s levels, according to PCA’s latest US Labor-Energy Input Survey. Plants averaged 4.384m BTUs per ton. The PCA notes that this represents the most energy efficient year since tracking began for US cement manufacturing. The use of alternative fuel at cement plants was also on the rise in 2014, as 15 per cent of all energy needs are achieved through alternative fuel and 75 per cent of a... |
UltraTech Cement second-quarter sales ahead20 October 2015, Published under Cement NewsAditya Birla group company UltraTech Cement reported higher revenue and volume growth for the second quarter of FY16 as well as a better operational performance during the period. For the three months to the end of September 2015, standalone net sales edged ahead by 4.2 per cent to INR5621 crores compared to INR5379 crores a year earlier. Profit before interest, depreciation and tax rose 8.6 per cent to INR1033 crores. However, profit after tax fell 3.9 per cent to INR394 crore largely... |
HeidelbergCement: new Managing Board members – new Group areas16 October 2015, Published under Cement NewsHeidelbergCement yesterday announced changes to its Managing Board and the reorganisation of the divisions in line with the long-term oriented succession planning and the proposed acquisition of Italcementi. Within this context, the Managing Board agreements of Daniel Gauthier and Andreas Kern, due to expire on 30 June 2016, will not be extended, HeidelbergCement said in a statement. At the same time, three new members have been appointed to the Managing Board and a new Managing Board fun... |
Peru’s demand falls 1.9% in September16 October 2015, Published under Cement NewsCement dispatches in Peru slipped 1.9 per cent in September to 0.887Mt from 0.905Mt in September 2014, according to Asocem, the country’s cement association. Exports declined by 13.9 per cent to 26,000t in September. Cement production increased 4.6 per cent YoY to 0.958Mt as the new plant of Cementos Pacasmayo, located in Piura, came on-stream. However, Asocem said: “The September production [figure] includes several tests at the new plant and therefore the strong rise in output is an anom... |
Shareholders of China Shanshui Cement Group vote to keep chairman15 October 2015, Published under Cement NewsShareholders of China Shanshui Cement Group Ltd have voted to keep Chairman Zhang Bin at a meeting in Hong Kong Tuesday, Bloomberg reports. The Shandong-based group held an extraordinary general meeting (EGM) during which a proposal from its largest shareholder – peer Tianrui International Holding Co – to get rid of Zhang was rejected after receiving a 99.9 per cent no vote, according to statement to Hong Kong stock exchange today. Tianrui International, which has a 28.16 per cent interest,... |