Cement News tagged under: corporate
USA: Essroc-Lehigh acquisition06 February 2017, Published under Cement NewsFollowing a US$4.2bn acquisition deal in June 2016, Essroc's Nazareth plant in Pennsylvania will feature signs saying it is now part of Lehigh Cement Co. The acquisition combined Lehigh Hanson Inc and Essroc Cement Corp, which were then owned by parent companies HeidelbergCement AG and Italcementi SpA, respectively. Now, HeidelbergCement AG is the owner of both Lehigh Hanson Inc and Essroc. "For now the legal entity is still 'Essroc' and our operating permits still show 'Essroc,' but w... |
Hyundai Cement posts better revenues but net losses increase06 February 2017, Published under Cement NewsSouth Korean cement producer Hyundai Cement Co Ltd saw improved revenues in 2016, rising from KRW363.19bn (US$319m) in 2015 to KRW378.86bn, according to the country’s Financial Supervisory Service. Operating profit rose 1.6 per cent from KRW52.52bn to KRW53.37bn, but net losses increased from KRW10.98bn to KRW143.46bn. These are preliminary, unaudited results. |
Portland Valderrivas notes 7.6% fall in turnover in 201603 February 2017, Published under Cement NewsPortland Valderrivas saw its turnover decrease 7.6 per cent YoY to EUR536.2m in 2016. The company recorded a net loss of EUR-120.4m, from a net profit of EUR28.6m in 2015. In addition, an EBITDA of EUR-226.4m was posted at the end of 2016, exacerbating the loss of EUR-73.2m reported the prior year. Cement sales slipped 1.7 per cent from 7.3Mt in 2015 to 7.2Mt in 2016 while the concrete division noted a 10.2 per cent drop in sales to 225,000m3. Aggregate sales increased by +26.4 per cent t... |
Trinidad Cement upgraded by ratings agencies03 February 2017, Published under Cement NewsRatings agencies Fitch and Standard and Poor’s have upgraded their evaluations of the credit-worthiness of Trinidad Cement Ltd (TCL), the Trinidad Express reports. Fitch moved its rating up two places, from B- to B+, while Standard and Poor’s moved the company to B grade. Fitch explained that Cemex’s decision to increase its stake in the firm to 67 per cent would have a positive impact on TCL, expanding the options available to it in both marketing and finance. Over the past five ye... |
Tunisia: Carthage Cement reports positive 201603 February 2017, Published under Cement NewsTunisia's Carthage Cement saw its revenues increase seven per cent YoY from TND184.2m (US$80.7m) to TND197.4m in 2016. Domestic sales advanced 13 per cent from TND114.7m to TND126.4m. The company’s market share is estimated at around 19 per cent, up from 16.8 per cent in 2015. Exports reached TND22.175m with Carthage Cement accounting for a 17.8 per cent market share. Cement production rose by nine per cent when compared with 2015. However, the company’s ready-mix turnover saw its... |
Bhutan: Dungsam Cement resumes cement supplies to dam projects03 February 2017, Published under Cement NewsDungsam Cement Corporation (DCCL) has resumed the supply of cement to two major hydropower projects in Bhutan after deliveries were halted for 10 days, Kuensel Online reports. Contractors working on the Mangdechhu and Punatsangchhu hydropower projects had complained about the quality of cement being supplied by Dungsam and rejected deliveries totalling around 300-450t. Another customer in India also returned 15 truckloads of cement. DCCL’s Deputy Managing Director, Karma Gayleg, explai... |
Philippines: Cemex secures US$280m BDO Unibank loan02 February 2017, Published under Cement NewsCemex Holdings Philippines Inc has secured a loan facility from BDO Unibank Inc for the peso equivalent of US$280m to refinance an outstanding obligation just seven months after joining the equities market through a PHP25.13bn initial public offering. In a disclosure to the Philippine Stock Exchange, the cement producer said it signed on Wednesday a senior unsecured peso term loan facility agreement with the country’s biggest lender to refinance its long-term loan with New Sunward Holding ... |
Uganda: Tororo Cement trucks damaging Karamoja roads02 February 2017, Published under Cement NewsTororo Cement, Uganda’s largest producer, has been warned by the national roads authority that they may be banned from transporting limestone by road due to the damage caused by their trucks. According to reports in the Daily Monitor, the company’s use of heavy-duty trucks to ship limestone from the Karamoja sub-region to the Tororo plant some 160-200km to the south is causing serious damage to local infrastructure. “A truck carries very many tonnes of the mineral along the road daily.... |
Siam City Cement Bangladesh appoints new CEO02 February 2017, Published under Cement NewsThailand-based Siam City Cement (Bangladesh) Ltd has appointed PN Iyer as its new CEO. According to the cement firm, Mr Iyer has over 35 years’ experience in sales and marketing across different cement companies around the world. Mr Iyer attended IMD Business School in Switzerland and is also an alumni of Harvard Business school. |
Cemex sells concrete pipe business01 February 2017, Published under Cement NewsCemex has completed the sale of its reinforced concrete pipe business to Quikcrete Holdings. The transaction was carried out for around US$500m, including a potential additional US$40m depending on future results. Cemex will use the funds to reduce its debts as well as for general corporate purposes. |