Cement News tagged under: corporate
LafargeHolcim announces five-year strategy02 March 2018, Published under Cement NewsLafargeHolcim has announced its new five-year strategy to grow faster than the overall market and cut costs. The plan targets an annual sales growth of 3-5 per cent, recurring EBITDA growth of at least five per cent, improvement in free cash flow to over 40 per cent of EBITDA and increasing the return on invested capital to over eight per cent, according to Reuters. The company also reported that it received a CHF3.8bn (US$4.04bn) impairment charge within the 4Q17, and as a result posted ... |
Holcim Philippines reports fall in net profit for 201702 March 2018, Published under Cement NewsHolcim Philippines has announced its results for 2017 and reports a net profit of PHP2.4bn (US$46.2m) for the full-year period, a fall of 65 per cent compared to the previous year. This has been attributed to a slowdown in the construction sector, increased competition and higher input costs, according to the Business Inquirer. Similarly, revenue decreased 13.9 per cent YoY to finish at PHP24.7bn, while EBITDA dropped 49.6 per cent to PHP5.4m. "The construction growth slowdown, tighter co... |
Cuba to modernise cement factories02 March 2018, Published under Cement NewsThe Cuban cement industry will begin modernising cement plants this year to increase the country's production. According to Pavel Cansino Ávila, deputy director of Grupo Empresarial de Cemento (GECEM), a new factory in Santiago de Cuba must be set up during the current year, which will replace the obsolete "José Mercerón", built in 1955. The plant will be located in the southern part of Abel Santamaría neigbourhood, in the eastern city, between two deposits of raw materials. The official e... |
Cementos Molins reports 40% YoY rise in net profit in 201702 March 2018, Published under Cement NewsCementos Molins posted a net profit of EUR89.1m (US$109.4m) in 2017, which represents a YoY advance of 39.5 per cent. Consolidated turnover for the year increased 15 per cent YoY to EUR645.6m. The company’s revenues were supported by its international subsidiaries which expanded by 16 per cent, particularly its Argentine subsidiary, which saw its sales rise by 23 per cent. Subsidiaries in Spain increased their turnover by 13.5 per cent, particularly in the concrete and aggregate segment. ... |
Savannah Cement targets Big Four Agenda projects02 March 2018, Published under Cement NewsSavannah Cement will tap into Kenyan President Uhuru Kenyatta's Big Four agenda – manufacturing, universal healthcare, affordable housing and food security – as it enhances its supply focus on local and regional infrastructure development projects such as Standard Gauge Rail (SGR), Outering Road, Mutomo- Kibwezi Road among many others. Savannah Cement Managing Director, Ronald Ndegwa, said the agenda will help to create much-needed jobs for Kenya’s burgeoning youth population. "The Bi... |
CRH appoints Richard Boucher as a non-executive director02 March 2018, Published under Cement NewsCRH has announced the appointment of Richard Boucher to the board as a non-executive director, with effect from 1 March 2018. Mr Boucher has extensive experience in financial services, and was CEO of Bank of Ireland Group between Feb 2009-Oct 2017. Furthermore, he has held senior management positions within the Royal Bank of Scotland and Ulster Bank. Currently, Mr Boucher is a consultant for Fairfax Financial Group and is a non-executive director of Greece-based Eurobank Ergasias SA. |
CRH FY17 results see sales of EUR27.6bn01 March 2018, Published under Cement NewsCRH has released its full year 2017 results and reports sales of EUR27.6 bn, up two per cent on 2016 on a like-for-like basis. EBITDA was up six per cent to EUR3.3bn from EUR3.14bn in 2016. The EBITDA margin rose by 12 per cent, up from 11.5 per cent in 2016. All divisions posted LFL EBITDA growth: with Americas Products (+12 per cent), Americas Materials (+4 per cent), Americas Products (+5 per cent), Europe Heaviside (+6 per cent), Europe Lightside (+5 per cent) and Europe Distribution (... |
Lafarge Surma Cement changes name01 March 2018, Published under Cement NewsLafarge Surma Cement Ltd has changed its name to LafargeHolcim Bangladesh Ltd, effective from Thursday. According to a notification to the Dhaka Stock Exchange, "other things of the company (except name and trading code) will remain unchanged." The trading code has changed from ‘LAFSURCEML’ to ‘LHBL’ on the main bourse. Lafarge Surma Cement approved the acquisition of Holcim Cement (Bangladesh) on 23 December 2017, at a price of BDT5.04bn (US$60.56m). The company’s plant is located in Chha... |
CMA launches Breedon and Tarmac asset swap enquiry01 March 2018, Published under Cement NewsThe Competition & Markets Authority (CMA) has launched Phase 1 of a merger inquiry into the anticipated acquisition by Tarmac of certain assets of Breedon Group. The initial period of the CMA’s merger inquiry began on 28 February, with the deadline for a decision on whether to refer the merger for a Phase 2 investigation currently scheduled for 26 April 2018. In a statement issued on 1 February, the CMA explained that it was "considering whether it is or may be the case that this transact... |
FLSmidth acquires Sandvik Mining Sytems01 March 2018, Published under Cement NewsFLSmidth has announced that its acquisition of Sandvik Mining Systems has been finalised. The deal will see the integration of continuous surface mining and minerals handling technologies into the company's core minerals sector, thereby allowing it to cover a wider range of the mining value chain. "With the completion of the South African assets we have added references, local expertise and improved ability to deliver complete solutions to our Sub-Saharan customers. We welcome our new c... |