Cement News tagged under: corporate
LafargeHolcim announces jobs restructuring at corporate offices25 May 2018, Published under Cement NewsLafargeHolcim has announced proposals to simplify its corporate organisation. Around 200 corporate jobs will go and the corporate offices in Paris and Zurich will close. Remaining positions in Switzerland will be moved to the company's Holderbank site and a new corporate office in Zug. In Paris remaining positions would be moved to Clamart in the southwest of the city. The plan is targeted to be completed by the end of 2018. Jan Jenisch, CCEO of LafargeHolcim: "This painful but necessary s... |
Lafarge Africa plans to cut debt over the next 18 months25 May 2018, Published under Cement NewsLafarge Africa Plc plans to cut debt over the next two years as it seeks to boost profit before resuming expansion, according to the company’s chairman, Mobolaji Balogun. The company expects its leverage ratio to fall from over 100 per cent to between 60-70 per cent over the next 18 months, according to Bloomberg. "As soon as the debt becomes more comfortable, we don’t sit there, we will put the foot down on the next round of expansion," said Mr Balogun. The company’s total debt has droppe... |
Grasim looks to invest INR59bn in modernising its cement plants25 May 2018, Published under Cement NewsIndia’s Grasim Industries will invest over INR130bn (US$1.9bn) in its cement and textiles businesses over the next 24-36 months, as the company looks to increase capacity and modernise production, according to a senior official of the group. The company, including its subsidiary, UltraTech, will invest INR59bn in modernising its existing cement plants, while also carrying out environmental upgrades and increasing the capacity of the assets acquired from Jaiprakash Associates. Business res... |
CRH to invest EUR8m in Lumbres plant25 May 2018, Published under Cement NewsEquiom has announced it will invest EUR8m in its plant in Lumbres, France. The sum represents the largest investment in the works for 15 years, according to Nord Eclair. Last year, improvements were made on the dust filters of the facility, which, along with two other plants, recently came under ownership of Ireland-based CRH. The project enabled the plant to meet European environment standards. The current spate of work centres around a new cooler. This will enable heat recovery from... |
Zambezi Portland Cement is returned to Ventriglia family25 May 2018, Published under Cement NewsZambian multi-millionaire entrepreneur Rajan Mahtani has lost ownership of Zambezi Portland Cement after the High Court of Zambia awarded full ownership of the company to the Ventriglia family of Italy on Monday. The outcome follows a decade-long court battle between the Ventriglia family and Rajan Mahtani who had claimed that he owned a 58 per cent controlling stake in the business as payment for organising financing for the Ventriglia family years ago, but the Ventriglia family insisted... |
Adverse weather and foreign currency exchange affect Titan's 1Q1824 May 2018, Published under Cement NewsΤitan Group 1Q18 results suffered from adverse weather conditions in the US and southeastern Europe, coupled with the strengthening of the euro against the US dollar and other currencies. Consolidated turnover reached EUR322.5m, recording a EUR39m decline compared to the previous year. EBITDA declined by EUR7.6m reaching EUR43.5m. Net profit after minorities and the provision for taxes was EUR0.9m, versus a EUR3.9m loss recorded in the 1Q17. Wet weather on the eastern coast of the ... |
Ramco Cements reports 11% revenue increase in FY1824 May 2018, Published under Cement NewsRamco Cements Ltd has announced an 11 per cent YoY increase in revenue for FY18, rising to INR44.43bn (US$649.71m) from INR39.93bn of the previous year. However, its stand-alone profit after tax fell 14 per cent to INR5.56bn (FY17: INR6.49bn). In the same period, the company reported an 11.5 per cent rise in cement sales to 9.31Mt. Upcoming projects Ramco Cements also noted that its upcoming capacity expansion projects will all be commissioned in the 2019-20 period. This includes the thir... |
Cemex helps build new Sinai tunnel connection24 May 2018, Published under Cement NewsThrough a joint venture with Orascom Construction and The Arab Contractors (Osman Ahmed Osman & Co), Cemex is supplying 350,000m 3 of concrete and 160,000t of cement for the construction of two tunnels that extend from the outskirts of the city of Port-Said in northeast Egypt to the Sinai Peninsula, passing under the Suez Canal. The project is part of the Egyptian government's plan for the development of the Sinai Peninsula by improving accessibility. Historically, the only access to Si... |
Melón sees 12% rise in 1Q earnings24 May 2018, Published under Cement NewsChile-based Cemento Melón has increased its first-quarter earnings by 12 per cent to US$7m when compared with 1Q17, despite lower cement sales volumes, according to Diario Financiero Online. The company’s revenues edged up by one per cent to US$83m. Sales volumes fell by 6.5 per cent but the company attributed the higher earnings to “the implementation of operational excellence plans that have meant lower production costs in the different plants, a lower exchange rate and a greater focus o... |
Demerger of Century Textiles to UltraTech Cement24 May 2018, Published under Cement NewsThe Board of Directors of UltraTech Cement Ltd confirmed that Century Textiles will demerge its 'Cement Business' into UltraTech, in a company statement. "The transaction provides UltraTech the opportunity for further strengthening its presence in the highly fragmented, competitive and fast growing east and central markets and extending its footprint in the western and southern markets in the country," said UltraTech's statement. The transaction is expected to be consummated within 6-... |