Cement News tagged under: corporate
Boral’s chief executive steps down, Australia24 May 2012, Published under Cement NewsThe Board of Boral Limited today announced that the Chief Executive, Mr Mark Selway, will step down from his role effective immediately. He will remain in employment with the Company until 31 July 2012 to assist with transition arrangements. Ross Batstone, currently Divisional Managing? Director Boral Building Products, has been appointed Acting Chief Executive Officer while a global search for a successor to Mr Selway is undertaken. Dr Bob Every, Boral’s Chairman, said: “Over the last... |
Lafarge appoints new India CEO23 May 2012, Published under Cement NewsMartin Kriegner has been appointed CEO of Lafarge India with responsibility for all of Lafarge's cement, aggregates and concrete activities in the country, as part of the company’s group-wide reorganisation programme. "I am happy to return to India as Country CEO, at a time when the construction sector is evolving quickly in the country. By combining all of our activities together, we will be able to support this evolution by offering integrated and innovative solutions at an earlier sta... |
Cementos Portland Valderrivas forecasts profit upturn in 201322 May 2012, Published under Cement NewsCementos Portland Valderrivas of Spain expects to swing to profit in 2013 thanks to the Plan NewVal launched this year, new chairman and CEO, Juan Bejar, said on Friday. EBITDA are seen to reach EUR 200m next year. Plan NewVal 2012-2013 is focused on costs reduction and new sources of revenue. Abstracted from an original article in Cinco Dias. |
Indian cement: gradual improvements expected22 May 2012, Published under Cement NewsFinancial services firm Motilal Oswal Securities has said it is expecting a gradual improvements in the Indian cement sector which is starting to overcome recent challenging times. In a recent research note, the house stated: “We believe that the worst is over for the Indian cement industry and expect gradual improvement in operating performance. Volume recovery (~8% growth in FY13) coupled with slowdown in capacity addition would drive absorption of excess capacity. "While cement p... |
Sumitomo Osaka to sell more in-house power, Japan22 May 2012, Published under Cement NewsSumitomo Osaka Cement Co plans to lift sales of power generated in-house at a Tochigi Prefecture plant using wood biomass fuel, according to reports in the Nikkei. The power generation facilities at the Tochigi plant were completed in February 2009 and went into full operation in April of that year. Current output totals 25,000kW. The group's operating profit is expected to surge 41% to JPY11.5bn in the fiscal year ending March 2013. Sumitomo Osaka Cement does not disclose power-relate... |
Lafarge appoints new US CEO22 May 2012, Published under Cement NewsLafarge has appointed John Stull as president and CEO, United States, putting him in charge of all aggregate, cement and concrete operations in the United States. The appointment now brings these Lafarge business lines in the United States together under a single leader, which the company said will focus its delivery on sustainable solutions to the construction industry. Stull has more than 20 years of experience with the Lafarge Group, including assignments in the United States and Pa... |
Brazil may approve Camargo's Cimpor stake – report21 May 2012, Published under Cement NewsBrazil's antitrust regulator Cade may approve Camargo Correa's stake in Portuguese cement maker Cimpor Cimpor but reject the stake of rival Votorantim Cimentos, according to reports by newspaper Valor Economico. Cade has been analysing Votorantim and Camargo Correa's separate purchases of minority stakes in Cimpor since February 2010, which frustrated an acquisition attempt by Brazilian steelmaker CSN. Camargo Correa has raised its stake since then to nearly 33 percent of Cimpor. Camarg... |
Fujian Cement to inject CNY950m into subsidiary, China21 May 2012, Published under Cement NewsFujian Cement Inc is to jointly invest with its second-largest shareholder, South Cement Co Ltd, a combined CNY950m (US$150m) into Fujian Cement's fully-owned cement subsidiary. Its subsidiary will mainly use the funds to invest in its cement and related businesses. After the capital injection the two investors will each hold a 50% stake in the target company, which will have a registered capital of CNY1bn. (Source: China Business Newswire). |
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. |
Deutsche Bank sells 86.58m shares in Shanshui21 May 2012, Published under Cement NewsDeutsche Bank AG sold 86.58m shares, or a 3.08% stake, in China Shanshui Cement Group Ltd at HK$5.79/share and for a total of HK$502m on 10 May, according to a filing on the Hong Kong Stock Exchange. After the sale Deutsche Bank's stake in Shanshui Cement fell to 6.89%. |