Cement News tagged under: corporate
Qarshi Conch Cement expected to begin plant operations in 202014 May 2019, Published under Cement NewsQarshi Conch Cement’s (Anhui Conch Cement Co Ltd) new 1.2Mta cement plant in Karshi, Uzbekistan, is expected to become operational in December 2020, according to the country’s Cabinet of Ministers. The parent company attracted US$150.5m to finance the project, including the supply of materials, equipment and external infrastructure. Karshi was reportedly chosen as the location due to its abundance of limestone and loess rocks. Since the plant is scheduled to start production at the end ... |
Norm Cement to host International Concrete conference13 May 2019, Published under Cement NewsNorm Cement LLC is to host an international conference in Azerbaijan this summer with International CPI Worldwide journal and ICCX (International Concrete Conference and Exhibition) Academy. The conference is entitled "Modern concrete technologies and construction directions in Azerbaijan," and will take place on 20 June 2019 at the Four Seasons Hotel in Baku. The main purpose of the conference is to stimulate the use of reinforced concrete frames on all types of construction including lo... |
Lafarge Zimbabwe invests US$25m to improve utilisation13 May 2019, Published under Cement NewsLafargeHolcim group has unveiled a US$25m investment programme to increase utilisation at its subsidiary Lafarge Cement Zimbabwe. However, Lafarge Cement Zimbabwe said the holding group has called on the government to stabilise the availability of electricity and resolve foreign currency issues as these are key determinants to its expansion drive. Milajan Gutovic, LafargeHolcim regional head of the Middle East and Africa group executive committee, said during a meeting with President o... |
LafargeHolcim signs agreement to sell Philippine operations10 May 2019, Published under Cement NewsLafargeHolcim has signed an agreement with San Miguel Corp for the sale of its 85.7 per cent share in Holcim Philippines for an enterprise value of US$2.15bn. The deal is expected to close in the 4Q19 and is subject to regulatory approval, according to a press release. The proceeds of this transaction will allow the company to improve its debt ratio by approximately 0.3 times. Following the divestment of its operations in Indonesia, Malaysia, Singapore and the Philippines, it has exited the... |
Loma Negra net revenue edges up 4% in 1Q1910 May 2019, Published under Cement NewsArgentina’s Loma Negra, part of InterCement, reported a 3.6 per cent YoY increase in net revenue to ARS7.428m (US$183m) in the first quarter of 2019 on the back of expanding concrete sales in Argentina and growth in cement revenues in Paraguay. Consolidated adjusted EBITDA was 17.9 per cent higher YoY to ARS2.136m in the 1Q19, mainly due to cement, masonry and lime business in the domestic market but also as a result of expansion in the main other segments. In addition, it was partially of... |
Adelaide Brighton issues profit warning for 201910 May 2019, Published under Cement NewsAustralia's Adelaide Brighton has warned that profits for 2019 could be 10-15 per cent lower than the AUD190.1m (US$133m) recorded in 2018, due to weaker demand in residential construction and high competition from imports. The company attributed the profit warning to "further softening of demand for construction materials in the residential market, increased competition from cement imports, increased competitive pressures in Queensland and higher costs of key raw materials compared to the... |
Buzzi Unicem reports net sales of EUR2873.5m in 201810 May 2019, Published under Cement NewsBuzzi Unicem announced consolidated 2018 net sales of EUR2873.5m versus EUR2806.2m in 2017, up 2.4 per cent, while EBITDA stood at EUR577.2m compared to EUR508.2m in 2017. The group’s net profit amounted to EUR382.1m down from EUR391.6m in 2017. Net debt on 31 December 2018 stood at EUR890.5m, up by EUR28m from EUR862.5m at the end of 2017. At the shareholders' meeting the Board of Directors authorised a buy-back of a maximum additional 7m ordinary and/or savings share for 18 months up to ... |
Sachem Head nominates two for Eagle Materials Board10 May 2019, Published under Cement NewsEagle Materials Inc shareholder Sachem Head Capital Management LP is nominating two people to Eagle Materials’ board, saying the company needs “new voices”. Scott Ferguson, Sachem Head’s managing partner, and Wendy Lane, board member at Willis Tower Watson plc were both nominated. Sachem Head, who reported a 8.9 per cent stake on 28 March 2019, is concerned about the “diversion” of resources as Eagle expanded into oil and gas proppants. While it said it was encouraged by the portfolio re... |
Hsing Ta Cement sees 32% revenues hike in the 4M1910 May 2019, Published under Cement NewsTaiwan-based Hsing Ta Cement has reported a 38.2 per cent increase in revenues to TWD753.3m (US$24.3m) in April 2019 from TWD545.2m in April 2018. In the first four months of 2019, the cement producer saw revenues surge to TWD2.113bn, up 31.5 per cent from TWD1.607m in the 4M18. |
ZAG International appoint new Managing Director10 May 2019, Published under Cement NewsDaniel Ulestig has been appointed Managing Director, Head of Global Shipping and European Business operations of ZAG International PTE, effective 1 May 2019. Mr Ulestig takes responsibility for all of ZAG's shipping activities around the world as well as leading the company's business interests in Europe. Daniel brings extensive experience in the cement industry, specifically the shipping sector. He began his career as a trainee at Holcim Trading in Madrid, Spain in 1998. In 2003, he joine... |