Cement News tagged under: corporate
Sibirsky Cement sales up 6% in 10M201219 November 2012, Published under Cement NewsRussia’s Sibirsky Cement increased its sales by 6% to 3.561Mt in the first 10 months of 2012, the company said in a press release. The company’s production rose by 5.5% to 3.543Mt in Jan-Oct 2012. Based in the Kemorovo Region, Sibirsky Cement operates three works and commands an annual production capacity of around 5.3Mta. |
Lafarge and Anglo American sell UK assets to Mittal16 November 2012, Published under Cement NewsLafarge and Anglo American agreed to sell UK assets for up to GBP285m, clearing the way for their building materials joint venture, according to Reuters. The sale, to Indian steel tycoon Lakshmi Mittal, was a condition set by Britain's Competition Commission to allow the two companies to combine their building materials activities in the country. The divestments, which are conditional upon regulatory approval, comprise: a cement plant in Hope, Derbyshire, with a capacity of 1.4Mt,... |
India: Lanco Industries to set up mini cement plant16 November 2012, Published under Cement NewsLanco Industries Ltd's borad of directors have approved a project to erect a 300,000tpa mini cement plant with a rotary kiln at an estimated cost of US$22.7m (INR125Crore) in place of existing vertical shaft kiln. The decision was made at a company meeting held on 10 November 2012. The Lanco Industries Ltd stock was trading at INR27.25, up by INR0.70 or 2.64%. |
CRH hopes US storm repair work will help its sales15 November 2012, Published under Cement NewsCRH expects to benefit next year from the devastation wreaked by Hurricane Sandy on the east coast of the US as reconstruction work gets underway. But the storm has also severely hampered its materials operations in the region. CRH said that disruption, coupled with ongoing weakness in some European markets, will result in earnings before interest, tax, depreciation and amortisation (EBITDA) in the last three months of 2012 below that achieved in the final quarter of 2011. Releasing an... |
Ireland: Judge steps aside over CRH share dealings15 November 2012, Published under Cement NewsA high court judge has stepped aside from a long-running dispute involving cement giant CRH, after a rival firm raised concerns about the judge's ownership of the company's shares. Mr Justice John Cooke, who returned to Ireland in 2008 after serving for 12 years as a judge in the European Court of First Instance, has been managing the bitter competition law case between Goode Concrete and CRH for two years. Mr Justice Cooke had already handed down three written rulings on preliminary issue... |
Expansion: FCC profit falls 77% YoY in 9 months13 November 2012, Published under Cement NewsSpanish construction and services group FCC received a net profit of €40.1m for January-September 2012, falling 77.5% on the year. Analysts polled by Reuters expected a €80m profit for the same period. The weaker results came amid the contracted infrastructure business of FCC and lower cement demand in Spain. The group's sales abroad grew by 6.6% on the year to €4.689bn in the nine months to September 2012 but total sales went down by 3.7% to €8.227bn. |
Vulcan's cement losses drastically reduced12 November 2012, Published under Cement NewsVulcan Materials' turnover for the first nine months recovered by 0.5 per cent to US$1958.9m, while the EBITDA declined by 15.7 per cent to US$286.8m. The trading profit before capital restructuring costs increased by 5.2 per cent to US$72.6m. After a net interest charge three per cent lower at US$159.0m the pre-tax loss for the period increased by 29.1 per cent to US$125.5m and the net loss rose by 30.7 per cent to US$56.1m. The net debt was 3.7 per cent lower than a year earlier at US$... |
Raysut sees 62 per cent jump in pretax profit, Oman12 November 2012, Published under Cement NewsOman’s leading cement producer Raysut Cement, reported a 62 per cent rise in pretax profit for the first nine months of 2012 due to higher sales and better price realisations. The company said profit before tax for the nine months to September reached OMR19.11m (US$49.7m) from OMR11.83m for the same period last year. Revenue stood at OMR70.35m, a YoY increase of 12 per cent against OMR62.67m last year. Pioneer Cement, part of the Raysut Group, earned a profit of OMR3.77 against OMR1.49m... |
FCC to provide loan to Cementos Portland by year-end, Spain12 November 2012, Published under Cement NewsSpanish builder FCC is expected to extend a EUR100m (US$127.3m) loan to its cement subsidiary Cementos Portland by end-December, according to reports in local paper Expansion. The credit is in line with the terms of the EUR1.274bn debt refinancing deal signed between Cementos Portland and its creditor banks in July. FCC decided to grant the loan after Cementos Portland said it would suspend the envisaged EUR100m capital hike, required by the debt refunding agreement. However, at the pres... |
EBRD mulls loan to Lafarge Serbia12 November 2012, Published under Cement NewsThe European Bank for Reconstruction and Development (EBRD) said on Friday it is considering providing EUR58m (US$75m) in financing to Serbian cement producer Lafarge Beocinska Fabrika Cementa to support its capital expenditure programme. The programme includes the development of a number of energy efficiency investments, further modernisation of production facilities, environmental enhancements, and targeted acquisitions and integration of aggregates businesses with its main cement operati... |