Cement News tagged under: corporate
West China Cement to raise US$102m in private placement04 September 2020, Published under Cement NewsWest China Cement Ltd has announced to raise CNY700m (US$101.9m) in a second tranche of private placement of medium-term notes to investors in China. The tranche has a term of three years and form part of the Medium-Term Notes of Yaobai Special Cement Group Co Ltd. The Agricultural Bank of China Ltd is acting as underwriter and China LIanhe Credit Rating Co Ltd as financial advisor of the offering. Proceeds of the second tranche will be used as general working capital of the group. |
Argos supplies Túnel de la Línea mega-project in Colombia04 September 2020, Published under Cement NewsColombia-based Argos has supplied up to 0.7Mm 3 of specialised and high-resistance ready-mix concrete and more than 220,000t of cement for the Túnel de la Línea. To supply the project in real-time the company has installed five plants on site. “We are proud to have participated as allies in the construction of this mega-work that represents a great milestone for the infrastructure of our country and Latin America. This was a project that represented great logistical and technical challenge... |
EAPC restructuring enters final phase03 September 2020, Published under Cement NewsThe restructuring of East African Portland Cement Co (EAPC)’s human resources in Kenya is entering its final phase with 270 employees seeing their permanent contracts converted to contract terms. Speaking during a consultative meeting with the permanent staff, the acting MD, Stephen Nthei, said the strategic objective is to reduce administrative costs as outlined in the turnaround strategy adopted by the board and to comply with regulations outlined by the State Corporations Advisory Commit... |
Abdelaziz Assad named acting CEO Arkan Building Materials02 September 2020, Published under Cement NewsUAE-based Arkan Building Materials has appointed Abdelaziz Asad as acting CEO following the departure of Abdellatif Sfaxi to pursue other career opportunities. Under the new arrangement, Mr Sfaxi will continue to work closely with Mr Asad for the next three months to ensure a smooth transition. Arkan Chairman, Engineer Jamal Salem Al Dhaheri, said: "On behalf of Arkan’s board, I would like to thank Sfaxi for his 12 years of service to the company. During his tenure as CEO he has reinforced... |
Simon Willis appointed new MPA chairman02 September 2020, Published under Cement NewsHanson UK CEO, Simon Willis, has been named as the new MPA chairman for the next two years, succeeding Martin Riley, Tarmac’s vice president. “We are delighted that Simon has agreed to pick up the baton from Martin and become the 8th Chairman of MPA. His wide industry knowledge and experience will be invaluable to the association as we look to play our part in the economic recovery whilst continuing to operate safely and securely until a vaccine for Covid-19 is available and tackle other m... |
Wagners reports steep drop in profits for 202031 August 2020, Published under Cement NewsWagners, the Australian construction materials business, reported a lower after-tax pro-forma profit of AUD3.92m (US$2.9m) for its 2020 annual results, down from the AUD13.7m in the prior year. Company CEO, Cameron Coleman, said the cement pricing dispute with competitor Boral, now resolved, and the loss of major infrastructure projects negatively impacted the company over the past 12 months. “The key message that I’m trying to communicate to investors is (the result was because of) redu... |
FLSmidth appoints regional presidents for Australia and South America31 August 2020, Published under Cement NewsTamer Eid has been named by FLSmidth as the company's new president for the Australia region, effective 14 September 2020. Over his career, Mr Eid has held various senior executive and technical roles in the mining and oil and gas sectors. He has also led international service businesses that directly supported the production assets of the world’s leading mining and oil and gas companies. Along with his MBA and Mechanical Engineering degree, he brings with him extensive experience within th... |
FLSmidth's revenue guidance for 2020 is DKK15.5-17bn28 August 2020, Published under Cement NewsFLSmidth's revenue in 2020 is forecast to be DKK15.5bn-17bn (US$2.48bn-2.72bn), says the company. EBITA margin is expected to be 4.5-6 per cent, which takes into account around DKK210m of implementation costs related to business improvement activities. On 23 March FLSmidth's financial guidance for 2020 was suspended due to the global uncertainty caused by the COVID-19 pandemic. On 28 April the company announced that full-year results were expected to be below the initial guidance. Visibilit... |
Bamburi Cement sees surge in profit before tax28 August 2020, Published under Cement NewsKenya’s Bamburi Cement has announced a 15 per cent YoY decline in turnover to KES16.23bn (US$150m) for the first half of 2020, against KES18.66bn in the 1H19. However, the company saw a surge in profit before tax to KES213m from KES23m in January-June 2019. |
Sinai Cement announces widening net loss in the 1H2028 August 2020, Published under Cement NewsEgypt’s Sinai Cement Co has seen its consolidated net loss widen to EGP247.6m (US$15.6m) in the first half of 2020, against EGP187.2m in the year-ago period. Its standalone net loss also expanded to EGP245.7m from EGP186.4m last year. The company attributed its losses in 2019 to the Egyptian pound devaluation on imported fuel, in addition to the higher prices of electricity and oil. |