Cement News tagged under: corporate
Breedon appoints CFO designate24 November 2020, Published under Cement NewsBreedon has named James Brotherton as chief financial officer (CFO) designate, effective from 1 January 2021. Mr Brotherton was CFO of Tyman Plc between 2010-19 after holding the post of director of corporate development for five years. It is expected that he will be appointed to the Breedon Board as CFO when Rob Wood, the company’s current Group Finance Director, succeeds Pat Ward as CEO in 2021. Breedon’s Chairman, Amit Bhatia, said: ”We are tremendously pleased to welcome James to B... |
Suez Cement sees net loss widen in 9M2023 November 2020, Published under Cement NewsEgypt’s Suez Cement has posted a consolidated net loss of EGP888.9m (US$56.79m) in the first nine months of 2020, widening from an EGP521.4m loss in the year-ago period. The company’s sales also declined 21.8 per cent YoY to EGP3.84bn from EGP4.91bn. In its standalone business, net losses contracted to EGP587.2m from EGP736.77m in the 9M19. Elsewhere, the Egyptian Stock Exchange has announced the execution of HeidelbergCement France’s mandatory takeover offer (MTO) for Suez Cement’s share... |
Al Akaria sells stake in Hail Cement23 November 2020, Published under Cement NewsSaudi Arabia’s Al Akaria, a real estate company, has sold its entire stake in Hail Cement Co at a value of SAR96.9m (US$25.84m). The company had a stake of 6m shares and made a profit of SAR36.9m in the transaction, according to a statement on the Saudi Stock Exchange. |
Taiwan Cement Corp sees revenue rise 3% in the 3Q2020 November 2020, Published under Cement NewsTaiwan Cement Corp has announced a three per cent YoY rise in revenue to TWD29.8bn (US$1.04bn) for the third quarter of 2020. Its net income also reached TWD7.4bn, up 14 per cent YoY. In the first nine months of the year, revenue decreased six per cent YoY to TWD82.2bn while net income increased four per cent to TWD18.4bn. "Fourth quarter is the traditional peak season for the cement market and we remain optimistic about our performance," said Edward Huang, senior vice president, Taiwa... |
Dangote Cameroon sells 1Mt of cement in the 9M2020 November 2020, Published under Cement NewsDangote Cameroon has announced that it sold around 1Mt of cement from its 1.5Mta grinding plant in the first nine months of 2020, up 18 per cent YoY from the 9M19. The company has estimated that it had a 39 per cent market share during the period. The rise in demand has been attributed to increased investments in construction projects. “The market is primarily driven by individual construction projects and government housing estates,” said the company. |
NG Ghadiya Group set to acquire National Limestone from ACC20 November 2020, Published under Cement NewsIndia’s NG Ghadiya Group, a company involved in the business of construction mining, has announced that it intends to completely acquire National Limestone Co from ACC Ltd. The transaction has been valued at around INR200m (US$2.686m), according to MarketLine. |
HeidelbergCement announces EUR400m investment in French sites19 November 2020, Published under Cement NewsHeidelbergCement’s subsidiary, Ciments Calcia has presented the draft terms of a large-scale investment and reorganisation programme for several of its sites in France. The programme comprises investments of around EUR400m, of which nearly EUR300m is earmarked for the Airvault plant alone. Elsewhere, the company will convert its facility in Gargenville, Yvelines, into a modern grinding unit and shut down the kiln system and quarry operations. This adjustment is expected to enhance the ... |
Vecoplan invests millions and enjoys further success despite COVID-1919 November 2020, Published under Cement NewsDespite the COVID-19 pandemic, Vecoplan AG has continued supplying machines and systems that shred, convey and process primary and secondary raw materials in the production and materials cycle, while running as profitably as last year. "Despite COVID-19, our business is still very stable since we’re working through a high backlog of orders. One reason for these orders is our development offensive and the resulting product launches of recent months," says Werner Berens, CEO of the Vecop... |
CRH pays tribute to former CEO19 November 2020, Published under Cement NewsCRH has paid tribute to Jim Culliton, a former CEO of the company, who passed away on Monday. Mr Culliton was a significant figure within several important Irish companies during the second half of the twentieth century, including spending 13 years as CEO of CRH. He joined what was then known as Roadstone in 1950 and eventually led the merged Cement Roadstone Holdings (CRH) to a dominant position in the Irish market, also starting the international expansion that made the company a multin... |
Breedon Group's revenues for 10M20 reach GBP750m18 November 2020, Published under Cement NewsBreedon has issued a scheduled trading update with group revenues in both September and October ahead of the same period in the prior year, on a like-for-like basis. As a result, the group saw revenues for the first 10 months of the year reach GBP750m (2019: GBP800m), including three months contribution from the former Cemex assets in the UK. The board now expects the group's underlying EBIT for the full year to be at least GBP70m, which is ahead of current market expectations. ... |