Cement News tagged under: corporate
A TEC GRECO announces new managing director, Austria19 September 2012, Published under Cement NewsA TEC GRECO has announced the appointment of Ulrich Kuegler as Managing Director – COO (Chief Operating Officer), effective August 2012. Mr Kuegler, former Corporate Project Execution & General Coordination Manager of Loesche GmbH (Germany) will bring his extensive senior management experience to the Austrian pyroprocess specialist A TEC GRECO, the company said in a statement. Mr Kuegler will work closely together with the senior management team CEO Guenther Schwaiger and CTO Friedrich W... |
Boral announces new CEO, Australia18 September 2012, Published under Cement NewsMike Kane has been appointed Chief Executive Officer and Managing Director of Boral Limited, effective 1 October 2012. Mike Kane will replace Ross Batstone who became Boral’s Chief Executive Officer in May 2012 when Mark Selway stood down from the role. At that time the Board commenced a comprehensive international search for a new Chief Executive Officer. Mr Kane joined Boral in February 2010 in the role of President Boral USA. He has spent the past two and half years significantly realig... |
Fauji Cement increases full year profit, Pakistan18 September 2012, Published under Cement NewsProfit after tax of Fauji Cement Company Limited increased to PKR552.590m in the year ended 30 June 2012 (FY12) compared to PKR425.661m in the same period in FY11. According to the financial results sent to Karachi Stock Exchange, the company's net sales increased to PKR11.523bn in FY12 against PKR4.742bn in FY11. The cost of sales increased to PKR8.454bn compared to PKR 3.919bn. Pretax profit increased to PKR966.245m in FY12 against PKR488.153m in FY11. |
Cemex completes refinancing deal, Mexico18 September 2012, Published under Cement NewsCemex said on Monday it has completed its plan to refinance US$7.2bn of debt and push back maturities by up to four years. Last week, the company and nearly all of its creditors finally settled on a new agreement that includes a debt swap, a US$1bn prepayment in March 2013, some asset sales, and revised financial covenants. Participating creditors will now receive about US$6.16bn in a combination of new loans and new dollar private placement notes, plus US$500m of new, high-yield notes ... |
PPC appoints new chief audit executive, South Africa17 September 2012, Published under Cement NewsPretoria Portland Cement (PPC) appoints Phuti Semenya, a qualified Chartered Accountant as the Chief Audit Executive. This appointment is in line with the PPC strategic imperatives that include assurance on governance, risk management and internal controls. PPC said that Semenya brings with him an extensive experience and knowledge base in internal and external auditing that was acquired over a period of 14 years in auditing firms and leading financial institutions. Most recently, Semenya... |
Dubai Group in talks for Lafarge Emirates stake sale, UAE14 September 2012, Published under Cement NewsThe Dubai Group is in talks to sell its 45 per cent stake in its UAE joint venture with Lafarge, according to reports by Reuters. Lafarge Emirates Cement, set up in 2005, is restructuring and needs additional capital to help support the business, something Dubai Group is unable to provide due to its debts. Lafarge Emirates Cement was set up as a joint venture between Lafarge, Dubai Group, part of conglomerate Dubai Holding, and the Fujairah government, an emirate in the Northern part of ... |
Court ruling threatens to nullify Cemex stake in Assuit, Egypt14 September 2012, Published under Cement NewsCemex said on Thursday its Egyptian unit Assiut Cement Co has learned of a preliminary ruling by a court in Egypt that could nullify the agreement under which Cemex bought a majority stake in the company more than a decade ago, Dow Jones Global Equities News reports. Assiut Cement is fighting the decision. It will continue to operate as usual, Cemex said in a statement to the Mexican Stock Exchange. Cemex bought its stake in Assiut from Metallurgical Industries Co., a state-run Egyptian ... |
Yamama Cement 1H net profit rises 22%, Saudi Arabia14 September 2012, Published under Cement NewsSaudi cement producer Yamama Cement Company reported a 22 per cent YoY rise in its net profit to SAR487m (US$129.8m) for the first half of 2012, up from SAR400m a year ago. The increase was attributed to a rise in sales as a result of higher local demand, Yamama Cement said without giving exact figures. Gross profit SAR526m from SAR429m. |
National Cement to begin trial productions, Ethiopia13 September 2012, Published under Cement NewsNational Cement SC, Ethiopia is expected to begin production in October in an expansion project which began in 2005. According to reports in the Addis Fortune, National Cement will begin with clinker trial production in October and Cement trial production after a month in November according to Engineer Busa Assefa, Chief Executive Officer of the company. The trial production phase will begin at 60 per cent of clinker and 70 per cent of cement production rate to become fully operationa... |
Can Tho Mineral & Cement 1H12 net profit falls, Vietnam13 September 2012, Published under Cement NewsCan Tho Mineral & Cement JSC (CCM), listed on the Hanoi Stock Exchange, said it made a consolidated net profit of VND5.67bn (US$272,000) in the first six months of this year, down from 18.18 per cent from a year earlier. Vietnam News Brief Service reports that the cement producer's revenues decreased 17.7 per cent YoY to VND102.44bn, CCM said in its consolidated quarterly financial report. Financial, sale and management costs dwindled 33.78 per cent, 53.85 per cent, and 14.03 per cent... |