Cement News tagged under: corporate
Lafarge Surma Cement and Holcim Bangladesh in merger talks14 November 2016, Published under Cement NewsLafarge Surma Cement Ltd (LSC) has reportedly started talks with Lafarge Holcim Group to merge with Holcim Bangladesh Ltd (HBL). Lafarge Surma Cement, in a notice to Dhaka Stock Exchange last week, informed that the company is exploring the opportunity of combining LSC's business with HBL. A merger has the potential to create significant synergies as well as further position both HBL and LSC brands for future growth in Bangladesh. However, at this stage the Board of Directors of LSC emphas... |
Buzzi Unicem releases 9M16 results11 November 2016, Published under Cement NewsBuzz Unicem reports that from January to September 2016 cement and clinker sales of the group totalled 19.5Mt, up 1.2 per cent from the previous year. Consolidated net sales were in line with the previous year, increasing from EUR1998.1m in September 2015 to EUR1.9985m in the period under review, while EBITDA came in at EUR416.2m (+64.1m, equal to +18.2 per cent). Europe In Italy cement and clinker sales showed a declining trend compared to the same period of 2015, with average sales... |
Kenya: East Africa Portland Cement sees 2015 profits fall 42%11 November 2016, Published under Cement NewsEast Africa Portland Cement Company (EAPCC) has announced that its profits for the financial year ending in June 2016 were KES4.2bn (US$41m), having fallen by 42.1 per cent in comparison to the previous year. According to reports in the Nation newspaper, EAPCC’s revenues rose by 5.4 per cent to KES8.9bn, but higher expenses – including financing costs that were up by 67.3 per cent – and increased cost of sales wiped out those gains. The Nation reports that EAPCC has recommended against... |
PT Semen Indonesia domestic sales down 6%, export more than double11 November 2016, Published under Cement NewsPT Semen Indonesia’s domestic cement sales dropped six per cent YoY to 2.55Mt in October from 2.71Mt. However, the company saw its export sales rise from 28,302t in October 2015 to 62,829t one year later. For the first 10 months of 2016, domestic sales edged up from 20.93Mt in 10M15 to 21.19Mt. Cement exports rose 15.2 per cent YoY from 419,767t to 483,745t. |
ThyssenKrupp Industrial Solutions' CEO resigns11 November 2016, Published under Cement NewsJens Michael Wegmann informed the Executive Board of thyssenkrupp AG this week that he is standing down as CEO of the Industrial Solutions business area with immediate effect and leaving the company The Executive Board thanked Mr Wegmann for his work at the company. "We thank Jens Michael Wegmann for his outstanding work. With his comprehensive transformation program planets he has strategically realigned thyssenkrupp Industrial Solutions and started to focus the business area more stron... |
Magnesita records profits of US$40.1m Jan-Sep 201611 November 2016, Published under Cement NewsMagnesita Refractários recorded a profit of US$40.1m between January and September 2016. The refractory company's EBITDA was US$115.9m in the period, while the EBITDA margin reached 16 per cent, against 15.6 per cent in the same period of 2015. Net revenue reached US$725m in the year. Magnesita International Chairman and CEO, Octavio Pereira Lopes, highlighted the results achieved in the face of the challenging environment in the company's main markets. "The EBITDA margin rose to 16 per ce... |
Two ratings firms improve gradings for HeidelbergCement10 November 2016, Published under Cement NewsS&P Global Ratings and Moody's have upped their investment ratings for HeidelergCement following the company's 3Q16 results and the Italcementi acquisition. S&P Global Ratings has assigned a BBB-/A-3 company rating to HeidelbergCement. S&P also upgraded the issuance ratings of Italcementi from BB/B to BBB-/A-3. The outlook on all ratings is stable. “We are very happy about the positive rating decision by S&P,” said Dr Bernd Scheifele, CEO of HeidelbergCement. “It is proof of the strong o... |
USA: CRH share price rises on Trump's election10 November 2016, Published under Cement NewsCRH's shares shot up by eight per cent on the Irish Stock Exchange (Iseq) yesterday on the back of Donald Trump's US Presidential win adding EUR2bn to the company's market capitalisation, valuing it at EUR26.8bn. CRH's shares soared to a more than nine-year high after Mr Trump confirmed in his acceptance speech that he intends pumping money into US infrastructure projects, including roads, airports and hospitals. CRH is the largest producer of asphalt and the third-largest producer of con... |
FLSmidth's 1Q-3Q16 revenue down 12%10 November 2016, Published under Cement NewsFLSmidth reported that its interim accounting period for July -September saw revenues of DKK4774m (US$699.7m) down four per cent, while revenues over the longer 1Q-3Q16 period reached DKK12.6bn (US$1.8bn), down 12 per cent on 1Q-3Q15. Order intakes amounted to DKK4133m in the 3Q16m while EBITDA amounted to DKK421m in 3Q16 down two per cent on 3Q15. It was announced in August 2016 that corrective actions would be implemented to compensate for declining revenue and earnings. The co... |
Cementir 9M16 results affected by foreign currencies10 November 2016, Published under Cement NewsCementir's results for the first nine months of 2016 were down on 2015 mainly because of the depreciation of the major foreign currencies, which had a negative effect of EUR6.3m on EBITDA, claims the Italian company. Sales gains of 1.8 per cent in the Scandinavian countries and Malaysia failed to offset the weakness of the Italian market and other negative effects in Turkey. The depreciation of the major foreign currencies against the Euro had a negative effect of EUR32.3m. EBITDA, at EUR ... |