Cement News tagged under: corporate
Ecocem pretax profit declines 38%22 November 2018, Published under Cement NewsSlag cement producer Ecocem Materials Ltd reported a rise in turnover of 9.4 per cent in 2017 to EUR79.4m (US$90.5m) from EUR72.6m in the previous year. Pretax profit decreased by 37.5 per cent to EUR2.5m last year from EUR4m in 2016. Costs increased by nearly 12 per cent YoY to EUR76.5m from EUR68.6m while the company paid EUR335,000 in interest, a sharp rise when compared with EUR147,821m paid the previous year. Earlier this year the company opened a new plant in Dunkerque , northwest... |
Cemex Philippines shuts down kiln and Davao terminal22 November 2018, Published under Cement NewsAPO Cement (Cemex group) in the Philippines has closed its Davao cement terminal and suspended one kiln line at its Cebu plant following the suspension of mining operations at Apo Land & Quarry. The closure means the lay off of 30 staff and cessation of work for 40 per cent of its contractors. These cost cutting measures are in addition to temporary suspensions affecting 30 per cent of its workforce. The company is engaging with suppliers in Cebu and neighbouring territoies for raw materia... |
Lafarge Malaysia records 3Q18 net loss of MYR109m21 November 2018, Published under Cement NewsLafarge Malaysia recorded a net loss in 3Q18 of MYR109.28m (US$26m) down 160 per cent from MYR42.01m in 3Q17. Revenue fell by 14 per cent YoY to MYR495.1m in 3Q18. The decline in earnings was down to lower cement sale and higher operating expenditure. Higher energy prices, as well as the lower production output and timing of the scheduled plant maintenance put pressure on costs. "The decrease was due to the soft market demand and continuing domestic pricing pressures," said Lafarge Malay... |
EAPCC receives backing to sell land assets21 November 2018, Published under Cement NewsKenya’s East African Portland Cement Co (EAPCC) has received Trade Ministry backing to sell off idle land, which will help the company recoup some of the KES15bn (U$146.3m) it says it needs to avoid a complete shutdown of operations. Betty Maina of the Trade Ministry has said that a Cabinet memorandum is ready for submission to grant the company approval to sell off its assets. Ms Maina also noted that EAPCC, which has assets worth KES100bn, does not require a government bail-out for a tur... |
Austria's Leube acquires stake in Asamer21 November 2018, Published under Cement NewsAustria-based Leube cement plant has acquired a stake in Asamer, a building materials company based in the same country. The company has acquired a 24.99 per cent stake after the exit of Kurt Asamer from the business, which left the remaining partners with a combined share of 75.01 per cent. |
Fletcher building hit by Golden Bay shutdown and Australian residential market21 November 2018, Published under Cement NewsFletcher Building Ltd's performance has been impacted by trading conditions and a four-week shutdown of subsidiary Golden Bay Cement which cost in the range of NZD8-11m (US$5.4-7.5m). The company has downgraded its full-year EBIT by 10 per cent to NZD20m. "The 10 per cent lower ebit was a reflection of Australian trading conditions, the Golden Bay Cement issue and timing of sales in its New Zealand residential business,'' said Craigs Investment Partners broker Peter McIntyre. In addition... |
Gansu Hengya Cement is the investor behind Samarkand plant21 November 2018, Published under Cement NewsGansu Hengya Cement Company of China is entering the Uzbekistan cement market. It plans to build a 2.4Mta cement plant in Samarkand, Kattakurgan district. The plant will cost US$420m and the project will be implemented in two stages. The first 1.2Mta kiln line will be erected between 2018-20 at a cost of a US$220m. The second 1.2Mta line will be cosntructed between 2020-23. The works will produce cement types M-400, M-500, white and grey, plus M-600. |
CRH launches phase three of share buy-back21 November 2018, Published under Cement NewsOn 25 April 2018 CRH plc announced its intention to buy back ordinary shares of up to EUR1bn in the following 12 months. Having completed buy back phases one and two, returning EUR700m to shareholders the third buy back phase is now in operation to repurchase ordinary shares for a maximum consideration of EUR100m. The Phase 3 Programme will commence today, 20 November 2018, and will end no later than 31 December 2018. Under the terms of the Phase 3 Programme, ordinary shares will be repurc... |
LKAB Minerals is set to acquire Francis Flower20 November 2018, Published under Cement NewsLKAB Minerals of Sweden is working on a deal to complete the acquisition of Francis Flower by 3 December 2018. The Austrian Competition Authority gave clearance for the acquisition on 10 October. Francis Flower operates a 0.55Mta grinding unit for ground granulated blastfurnace slag (GGBS) cement in Scunthorpe, Lincolnshire, UK. The company also has five main storage locations and a network of remote storage silos, which provides an additional 15,000t of cement storage. Adrian Willmott, ch... |
Mario Gross steps down as CEO of Lafarge Malaysia20 November 2018, Published under Cement NewsMario Gross of Lafarge Malaysia stepped down from his role as president and CEO of the company on Friday, after seven months in the position. Mr Gross has been assigned to a new role in the LafargeHolcim group but will also continue as a non-independent non-executive director from 16 November to 31 December this year to facilitate the transition. "During his tenure here, Gross laid the groundwork for the business turnaround plan, putting in place an experienced leadership team and strengt... |