Cement News tagged under: corporate
Cemex finalises Pacific Northwest Materials divestment03 July 2017, Published under Cement NewsCemex SAB de CV has completed the divestment of its Pacific Northwest Materials Business through one of its US subsidiaries to Cadman Materials Inc, part of HeidelbergCement-owned Lehigh Hanson Inc. Pacific Northwest Materials Business includes seven aggregate quarries, five ready-mix concrete plants and three asphalt operations in Oregan adn Washington, USA. The company generated about US$110m revenues and about USS14m of EBITDA in 2016 with about 350 employees. The acquired aggregates ... |
Cementa and Vattenfall focus on zero emissions03 July 2017, Published under Cement NewsCementa and Vattenfall of Sweden are conducting a pilot study on electrified cement production to achieve zero CO2 emissions by 2030, representing a five per cent reduction in Sweden’s total emissions. Cement production that is electrified and supplied by a climate smart Swedish energy system is the future vision in the CemZero collaborative project. "Electrification within the industry is an important element in the transition to sustainable urban development. We are now going to ... |
Fancesa sees rise in net profit and reinvestment03 July 2017, Published under Cement NewsFancesa of Bolivia reported a net profit of BOB255m in 2016, a rise of BOB6.2m when compared with 2015. Some 60 per cent of net profit will be distributed between the three co-owners while 40 per cent will be reinvested in the cement company to pay for its new production line. The previous year, some 20 per cent of BOB248.8m generated net profits were reinvested. "In this management has decided that 60 per cent of profits are distributed among co-owners and 40 per cent goes to reinves... |
Votorantim Cimentos to inaugurate Sivas plant03 July 2017, Published under Cement NewsVotorantim Cimentos is to inaugurate its cement works in Sivas, Turkey, as part of its drive for geographic diversification. International operations account for 40 per cent of its revenues, a share that is expected to grow next year as the expansion of the Charlevoix (MI), USA, works comes online. ‘Geographic diversification works as a "hedge," which compensates for the situation we're going through in Brazil,’ said company president, Walter Dissinger. Therefore, it is expected that ... |
Eagle Cement reports 30% 1Q earnings rise30 June 2017, Published under Cement NewsEarnings of the newly-listed Eagle Cement Corp in the Philippines increased by 30 per cent in the first quarter of 2017, driven by a rise in sales volume during the first three months of the year. Net income reached PHP1.03bn (US$20.3m) for January to March, following an increase of 19 per cent in net sales to PHP3.77bn. "The retail business remains strong and with the government's pronouncement of increased infrastructure spending under its PHP8-trillion "Build Build Build" plan, th... |
Jaiprakash receives director approval to divest assets to UltraTech30 June 2017, Published under Cement NewsJaiprakash Associates said it received approval from its committee of directors to close the transaction for selling part of its cement business to UltraTech Cement for INR161.89bn. The deal will see the cement plants in Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh move to UltraTech. An addition unit, currently under construction in Uttar Pradesh, will become part of UltraTech for an additional INR4.7bn. The proceeds of this transaction will help t... |
Cinven completes Chryso acquisition30 June 2017, Published under Cement NewsCinven, an international private equity company, has acquired Chryso, supplier of additives and cement and concrete improvers. The acquisition was finalised on 28 June 2017. France-based Chryso has upgraded its geographical footprint in recent years and has built new facilities in the UK, Algeria as well as a third plant in Adana, Turkey. Growth for the company has also come by way of acquisition with Betongkemi AB (Chryso Nordic AB), Corretech Qatar (Chryso Gulf) and more recently, Modern... |
BK Birla Group's Kesoram Industries considers new grinding plants30 June 2017, Published under Cement NewsBK Birla group's diversified Kesoram Industries already operates 7.5Mta of cement capacity with its wtwo cement plants near Sedam and Basantnagar, but it has the potential to acquire 700 acres of limestone reserves at Gulbarga, which could sustain new production plants. Kesoram will analyse whether to construct grinding units on the Gulbarga site, where it owns the mining rights, said Tridib Kumar Das, whole-time director & CFO said after the annual general meeting of the company. "Gulb... |
Pablo Libreros appointed Aggregate Industries’ Growth and Innovation Director30 June 2017, Published under Cement NewsAs part of its ongoing commitment to being the foremost business in the construction products industry, Aggregate Industries has appointed Pablo Libreros as the new Growth and Innovation Director. With a considerable experience in the industry, Pablo has joined Aggregate Industries after having worked within LafargeHolcim Group, in South America for the past six years. Most recently, Pablo occupied the role of CEO for the Group’s Costa Rica business. Prior to this he held various senior r... |
Moody's upgrades Eagle to Investment Grade28 June 2017, Published under Cement NewsMoody's Investors Service upgraded the senior unsecured debt ratings of US-based Eagle Materials Inc to Baa3 from Ba1. The rating outlook is stable. The upgrade reflects Moody's view that Eagle Materials has the willingness and ability to defend its investment grade rating in a downturn. The upgrade is also supported by strength in the company's financial ratios, "which are among the best in the building materials rated universe," Moody's notes. Eagle Material's adjusted debt-to-EBITDA... |