Cement News tagged under: corporate
Ecocem proposes capital restructure and dividend payment25 March 2019, Published under Cement NewsIrish cement producer Ecocem is preparing to pay out large dividends, reports the Irish Times. Shareholders at Ecocem are likely to recieve healthy dividends after the group proposed to restructure its capital to allow it pay a dividend of up to EUR5m. The directors said the proposed reduction in Ecocem's capital would create a distributable reserve "to allow for the prospect of the payment of dividends in future," as long as the company can afford it. At the end of December, the directors... |
LafargeHolcim Maroc appoints new Chairman of the Board25 March 2019, Published under Cement NewsLafargeholcim Maroc has appointed Ali Fassi Fihri, former chief executive of the National Office for Drininking Water and Electricity (ONEE), to chairman of the board. Mr Fihri, who was dismissed from ONEE by King Mohammed VI in October 2017, now replaces Tarafa Maraouane, who resigned from his position. |
Simba Cement set to acquire Kenyan cement company22 March 2019, Published under Cement NewsSimba Cement, a subsidiary of Devki Group, has received approval from the Competition Authority of Kenya for the 100 per cent acquisition of West Pokot-based Cemtech Ltd, according to Business Daily Africa. "We are still negotiating with Cemtech and we hope to close the deal soon. We are eager to venture into West Pokot to change its perception and the lives of its people for the better," said Narendra Raval, founder and chairman of Devki Group. The merged entity is expected to have a ... |
Buzzi Unicem announces resignation of non-executive director22 March 2019, Published under Cement NewsBuzzi Unicem has announced that Luca Dal Fabbro will be resigning from his position of non-executive director, effective from the end of the board meeting on 28 March 2019. He was appointed on 8 February 2018 in place of Oliviero Maria Brega, who had passed away. Mr Dal Fabbro has decided to leave his position after his name had been indicated for the presidency of Snam SpA by the majority shareholder, according to a press release. The company thanked him for his contribution and noted that... |
Cementos Argos helps build MLS stadium in Washington DC22 March 2019, Published under Cement NewsCementos Argos has helped build the new Audi Field Major League Soccer (MLS) stadium in Washington DC, USA. As over 21,945Mm 3 of concrete was required for the project, Cementos Argos supplied 6000t of its Portland Type I/II Low Alkali cement to its customer’s two DC-based RMC plants from its facility in Martinsburg, West Virginia. Audi Field stadium has a seating capacity of 20,000, along with 31 luxury suites and 550 field level seats, all with a view of its 105m x 65.6m playing field.... |
Titan Group records turnover of EUR1.4bn in FY1821 March 2019, Published under Cement NewsTitan Group recorded consolidated turnover for 2018 at EUR1490.1m, recording a marginal one per cent decline compared to 2017. Earnings before interest, tax, depreciation and amortisation (EBITDA) fell by five per cent to EUR259.7m. Group net profit after minority interests and the provision for taxes reached EUR53.8m, posting a 26 per cent increase compared to 2017. In 4Q18 group turnover increased by 7.5 per cent reaching EUR388.2m and EBITDA increased by 6.6 per cent to EUR6... |
HeidelbergCement's operating line makes progress21 March 2019, Published under Cement NewsFinancial guidance for 2019 is for 'solid' or 'moderate' growth in Heidelberg Cement's revenue, EBITDA and EPS, and 'significant' net debt reduction (depending on which report you read). The group's management expects volume increases in all business lines, a tail-wind from energy cost inflation, and further margin improvement from the EUR100m SG&A cost cutting programme, reports Bernstein. HeidelbergCement reported earnings per share (EPS) grew by 25 per cent to EUR5.76 on EBIT grow... |
Cemex to sell white cement plant to Çimsa21 March 2019, Published under Cement NewsCemex has announced that it has reached a binding agreement with Çimsa Çimento to divest its white cement business, including its Buñol plant in Spain, for approximately US$180m. The final agreement is expected to be signed in April 2019, with the closure of the sale forecast for 2H19. The divestment does not include the company's white cement business in Mexico or the investment in USA-based Lehigh Cement. The deal is part of Cemex's ongoing restructure, with the potential proceeds to be m... |
Northern Region Cement posts 75% profit fall in 201821 March 2019, Published under Cement NewsSaudi cement producer Northern Region Cement saw a 75 per cent drop in its net profits to SAR13.09m (US$3.5m) in 2018 from SAR52.95m in the previous year, according to data published on the Saudi Stock Exchange. The company attributed the fall to strong competition in Saudi Arabia and Jordan, which put downward pressure on prices. In the fourth quarter of 2018, profits declined to SAR13.33m from SAR15.41m in the 4Q17, according to Mubasher. In the 3Q18 the company reported a 60.4 per cen... |
Votorantim acquires New York ready-mix and aggregates business21 March 2019, Published under Cement NewsUS-based ready-mix concrete, aggregates and building materials supplier United Materials has been acquired by Votorantim Cimentos North America. Located in Depew, New York, United Materials has 140 employees and operates four ready-mix plants, one aggregate quarry and two building supply retail outlets in the region. Peter J Romano Jr, executive general manager of United Materials, said the new ownership "brings a wealth of experience in our business and a long history in North America. T... |