Cement News tagged under: corporate
Buzzi Unicem continues share buyback23 October 2018, Published under Cement NewsBuzzi Unicem has announced that it acquired 1,116,000 ordinary treasury shares during the 15-19 October period. The company acquired the shares for a total consideration of EUR18,899,938 at an average price of EUR16.9. It now holds 3.085m ordinary shares and 29,290 saving shares as of 19 October, equivalent to 1.51 per cent of the issued share capital. |
UltraTech reports 20% increase in net sales22 October 2018, Published under Cement NewsIndia’s UltraTech Cement has reported an 11 per cent YoY decline in its consolidated net profit for the 2QFY18-19 ended 30 September, falling to INR3.76bn (US$51.29m) from INR4.24bn. However, net sales during the quarter rose 20 per cent to INR81.11bn from INR67.52bn on the back of strong cement volume growth, which increased 21 per cent to 15.1Mt. "Domestic sales volumes jumped 21 per cent over 2QFY17-18. However, rising energy and logistics cost coupled with rupee depreciation resulted i... |
Tasek posts 3Q net loss22 October 2018, Published under Cement NewsMalaysia’s Tasek Corp Bhd posted a net loss of MYR5.99m (US$1.44m) in 3Q18 on the back of intense pricing competition as domestic cement demand fell. In 3Q17 the company reported a net profit of MYR1.89m. Rising production costs in its cement and ready-mix concrete businesses and lower interest income further affected the group’s business results. Revenue in the third quarter edged up from MYR146.55m in 3Q17 to MYR149.88m in 3Q18. Looking ahead, Malaysian cement demand is expected to rema... |
CRH completes Phase 2 of share buy-back22 October 2018, Published under Cement NewsCRH has completed the second phase of its share buy-back programme, returning a further EUR350m of cash to its shareholders. Between 29 August and 18 October, 12.5m ordinary shares were repurchased on the London Stock Exchange and Euronext Dublin at an average discount of 1.3 per cent to the volume weighted average price over the period. This brings total cash returned to shareholders under the ongoing EUR1bn share buy-back programme to around EUR700m. "The remaining portion of our buy... |
Construction of Potosí works to hit half-way mark end Oct22 October 2018, Published under Cement NewsConstruction of the new ECEBOL cement works in Chiutara, Potosí, had progressed by some 43 per cent by 30 September and is expected to surpass the 50 per cent mark at the end of this month, according to Zubim Andrade, who heads the Sociedad Accidental Imasa Polysius. Civil works such as the building of the administrative facilities have already been concluded with the participation of local companies. Currently there are some 900 people working on the site and 80 per cent of equipment ha... |
Bamburi Cement appoints Grace Oluoch as new FCO22 October 2018, Published under Cement NewsKenya-based Bamburi Cement has appointed Grace Oluoch as the company’s new finance director. She succeeds Eric Kironde, who has been Bamburi’s FCO since 2011. “The company is pleased to announce the appointment of Grace Oluoch as finance director,” the Nairobi Securities Exchange-listed company said in a regulatory notice Friday. Ms Oluoch has had a long career with consumer goods giant Unilever holding different roles in South Africa, Ghana, Nigeria and Kenya. |
Eurocement begins construction of 3Mta facility19 October 2018, Published under Cement NewsEurocement Group has started the construction of its new 3Mta facility in Uzbekistan. The plant is expected to begin operations in mid-2020 and will represent an US$160m investment. “This production will become the flagship of the cement industry and a powerful support for the growth of the economy of Uzbekistan,” said Mikhail Skorokhod, president of Eurocement Group. Once complete it will become the largest plant in central Asia, according to UzDaily. The commencement of construction is... |
Cemex to invest US$235m in Philippine expansion19 October 2018, Published under Cement NewsCemex Holdings Philippines plans to expand capacity at its subsidiary’s facility in Antipolo City, Rizal, at an estimated investment cost of US$235m. Solid Cement Corp has signed project agreements with China’s CBMI Construction Co Ltd for the procurement, construction and installation of the new line, according to a disclosure to the stock exchange. The project is expected to increase capacity by 1.5Mta, boosting Cemex’s total capacity in the country by 26 per cent. Currently, Solid Cemen... |
Titan Group tenders Euronext and Athens Exchange listing19 October 2018, Published under Cement NewsTitan Cement company has announced that Titan Cement International has submitted a voluntary tender offer the exchange of all the ordinary shares and preference shares issued by Titan Cement Co SA with new shares of Titan Cement International SA. The purpose of this offer is to have a listing of Titan Group on Euronext Brussels, one of the European Union stock exchanges. The offer includes the proposal of a secondary listing and admission to trading of all Titan Cement International SA shar... |
Adelaide Brighton announces new CEO19 October 2018, Published under Cement NewsAustralia’s Adelaide Brighton has announced that Nick Miller will become the company’s new CEO after Martin Brydon leaves the company next year. Mr Miller is the CEO of Broadspectrum, an infrastructure and maintenance service group, and was the managing director of civil construction company Fulton Hogan between 2010-17. Mr Miller is expected to take up the position no later than 17 April 2019, according to Zlatko Todorcevski, chairman of Adelaide Brighton. |