Cement News tagged under: corporate
Eagle Cement IPO oversubscribed25 May 2017, Published under Cement NewsEagle Cement Corp's Initial Public Offering (IPO) has been well received, with its initial public offering (IPO) oversubscribed by more than three times. Completing its offer on 22 May 2017, Eagle priced its IPO at PHP15 per share and sold 500m common shares by way of primary offer with an overallotment option of up to 75m secondary shares. Joint lead underwriters China Bank Capital Corp, SB Capital Investment Corp, and PNB Capital and Investment Corp, attributed the market’s positive re... |
Christian Knell elected new president of VDZ24 May 2017, Published under Cement NewsChristian Knell named new president of VDZ Christian Knell, general manager of HeidelbergCement in Germany, has been elected as the new president of VDZ. He succeeds long-standing president Gerhard Hirth who has been at the helm of VDZ for 12 years. Mr Knell has been vice president of VDZ since 2012 and has been working in the industry for more than 25 years. VDZ said the main driving forces in his new role as president will be the technological development and innovation along... |
Challenging outlook for Lafarge Malaysia23 May 2017, Published under Cement NewsIn the first three months of this year Lafarge Malaysia reported a net loss of MYR48.9m (US$11.4m) compared to a net profit of MYR20.6m for the same period a year ago due to lower operating profit and worsening pricing pressure. The group’s revenue decreased by 16.1 per cent to RM561.9m YoY. “This decrease was mainly attributable to the lower sales contribution from the cement segment due to the soft market demand, coupled with the increased industry capacity and the continued pricing pr... |
Schuler to succeed Jenisch as CEO of Sika23 May 2017, Published under Cement NewsSika has appointed Paul Schuler, currently Regional Manager Europe Middle East Africa (EMEA), as Chief Executive Officer, effective 1 July 2017. He succeeds Jan Jenisch who has accepted to become the new CEO of LafargeHolcim. Mr Schuler has been with Sika for 29 years and has been a member of the Group Management since 2007. He served as Regional Manager North America from 2007 to 2012 and as Regional Manager EMEA from 2013 until now. Sika noted in a statement released yesterday that he... |
ACC considers Telangana plant construction23 May 2017, Published under Cement NewsACC Ltd is considering setting up a cement plant in the southern Indian state of Telangana, a senior official from the LafargeHolcim company told local press. Speaking to reporters from the Telangana Today, Philip Mathew, chief manufacturing officer of ACC, said: “We have recently set up one plant in Chhattisgarh and the effort is stabilising it. We hope to set up a similar plant here." Mr Mathew added that the new plant would likely have a capacity of around 3Mta. |
LafargeHolcim names new CEO22 May 2017, Published under Cement NewsLafargeHolcim announces the appointment of Jan Jenisch as CEO from 16 October 2017. Jan Jenisch joins from Swiss company Sika AG. Jan Jenisch (50) has been the CEO of Sika AG since January 2012. Under his leadership, Sika, which has a leading global position in the development and production of systems and products for the building materials and automotive sectors, has developed its business in new markets and set new standards of performance in sales and profitability, LafargeHolcim sai... |
UltraTech's purchase of Jaiprakash assets reportedly nears completion22 May 2017, Published under Cement NewsUltraTech Cement cquisition of the cement business of Jaiprakash Associates is expected to be completed in the next few months, a top group executive said in an interview with local media. “The Jaiprakash Associates acquisition is on track and should get done sooner than later,” group chief financial officer Sushil Agarwal said. In July last year, UltraTech agreed to acquire Jaiprakash Associates ’ cement plants, which have a total capacity of 21.2Mta, making it one of the largest de... |
Eagle Materials produces record results19 May 2017, Published under Cement NewsIncluding its share of the jointly-owned Texas Lehigh Cement, the turnover of Eagle Materials for the financial year to the end of March 2017 improved by 11.7 per cent to US$1317.1m. Of this total turnover, the cement segment accounted for the largest share (41.8 per cent), followed by plasterboard (36 per cent), aggregates and concrete (11.6 per cent), plasterboard liner (eight per cent) and oil and gas (2.6 per cent). EBITDA emerged at US$403.8m, an increase of 22.9 per cent. The tradi... |
Fitch affirms Elementia's IDR, Outlook Stable19 May 2017, Published under Cement NewsFitch Ratings has affirmed Mexico-based Elementia, Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at 'BB+', as well as its long-term national scale rating at 'A+(mex)'. The Rating Outlook is Stable. "Elementia's ratings reflect its strong business profile characterised by geographic and product line diversification, leading market shares in copper and in several of its building systems products, which have high brand recognition. Other factors include a well-developed ... |
Hansen resigns as FLSmidth Group Executive VP19 May 2017, Published under Cement NewsAfter 15 years as Group Executive Vice President at FLSmidth, Bjarne Moltke Hansen has decided to leave FLSmidth. Bjarne has been with FLSmidth since 1984 where he started his career holding various managerial positions in Unicon A/S over a period of 11 years. After that he held the position as CEO of Cembrit Holding A/S for five years before taking up the position as CEO of Aalborg Portland Holding A/S in 2000. In 2002 Bjarne took on the position as Group Executive Vice President, Custome... |