Cement News tagged under: corporate
US: HeidelbergCement moves closer to acquiring Essroc17 August 2016, Published under Cement NewsHeidelbergCement AG and its Italian rival Italcementi SpA, the owner of Nazaerth-area Essroc operations have agreed to divest certain assets to settle the Federal Trade Commission's charge that the proposed US$4.2bn merger would likely harm US competition. The deal is not expected to affect area cement-making operations, officials from both companies said to The Morning Call on Tuesday. HeidelbergCement owns Lehigh Hanson Inc, which is based in Irving, Texas, while Italcementi owns Essroc ... |
Cementos Argos 2Q16 US results remain strong17 August 2016, Published under Cement NewsFor the second quarter Cementos Argos' cement volumes decreased by 1.9 per cent, totalling 3.5Mt, as a result of a challenging market environment in Colombia. These results were compensated by the US regional division, where Cementos Argos grew 16.3 per cent. In the ready-mix segment the company sold 3Mm 3 , up 1.1 per cent from the previous year. Cementos Argos registered double-digit growth in revenues, EBITDA and net income, driven by the US, Caribbean and Central America operations an... |
Philippines: Republic Cement confident despite environmental crackdown17 August 2016, Published under Cement NewsRepublic Cement has vowed to continue with its expansion plans and has said that it is "ready" to face an environmental audit from the Filipino government, ABS-CBN News reports. The Department of Environment and Natural Resources has recently handed out suspensions to 10 mining companies over safety violations and has challenged the country’s largest coal mining firm, Semirara, to make the case for allowing its operations to continue. Republic’s president, Rentao Sunico, said he was co... |
India: JK Lakshmi to expand Rajasthan mine17 August 2016, Published under Cement NewsJK Lakshmi Cement has received environmental clearance for expansion of its limestone mine output in Rajasthan, entailing an investment of INR1.20bn (US$17.94m). The mined limestone will be supplied to a cement plant in Sirohi, says India Infoline news service. "The Environment Ministry has examined the proposal of JK Lakshmi Cement and granted the environment clearance for expansion of its limestone mine in Rajasthan," a senior government official said. The company's proposal is to enh... |
Egypt: Siemens to launch Sicement Electrification system17 August 2016, Published under Cement NewsSiemens Egypt will on Thursday launch its new Sicement Electrification System at the “Bringing Power to Cement Industry” forum in Cairo, Daily News Egypt reports. Egyptian cement manufacturers have been hit by rising costs of power as the government has reduced subsidies on natural gas. At the same time, cement consumption has been rising and production hit 70Mt in 2015, the government calculates. The Sicement system offers producers with a straightforward means of connecting to the na... |
Denmark: FLSmidth 2H16 revenues fall 19%16 August 2016, Published under Cement NewsFLSmidth's revenue decreased 19 per cent to DKK4135m (US$620.7m) in 2Q16 (2Q15: DKK5093m or US$764.5m). The revenue improved sequentially from 1Q16 but was nevertheless lower than expected in 2Q16. The gross profit in 2Q16 decreased to DKK1078m from DKK1327m in 2Q15, corresponding to a gross margin of 26.1 per cent (2Q15: 26.1 per cent). The gross margin is still holding up despite pricing pressure and under-absorption due to the lower than anticipated revenue, says FLSmidth. Forei... |
United States: Sunrise reports progress on Pozz Ash project16 August 2016, Published under Cement NewsSunrise Resources has said that it has made “positive progress” in the development of its natural pozzolan Pozz Ash cement, Proactive Investors reports. Based on preliminary results from a concrete producer testing the product, Sunrise has concluded that Pozz Ash has good commercial potential providing the cement’s clay content can be reduced. |
Germany: KHD suffers 1H16 revenue fall by 25.5%16 August 2016, Published under Cement NewsKHD's 1H16 revenue amounted to EUR66.6m, considerably lower than the figure for the previous year (EUR89.4m). Reasons for the decrease of 25.5 per cent are the relatively low order backlog at the beginning of the year, delays in project execution, reductions in order value and order intake that did not materialise in the 1H16. The gross profit for the first half-year was EUR-2.1m (previous year: EUR-10.5m). Cost of sales include EUR3.8m of idle capacity costs due to under-utilisation of ex... |
Magnesita reports US$45.4m net income in 1H1616 August 2016, Published under Cement NewsBrazil-based Magnesita Refratários SA registered net income of US$45.4m between January and June of 2016, after a US$5m loss in the first half of 2015. The performance was driven by better operational results and foreign exchange variation. The company's adjusted EBITDA reached US$80.5m, with a 16.5 per cent margin, compared to a 15.4 per cent margin in the first semester of 2015. Consolidated revenue for the period amounted to US$486.8m, a nine per cent drop in the same comparison. Magne... |
USA: Martin Marietta elects new Board members16 August 2016, Published under Cement NewsMartin Marietta Materials Inc has appointed a new independent director to its Board of Directors. John J (Jack) Koraleski, former chairman of the Board of Directors and CEO of Union Pacific Corporation, was elected to Martin Marietta's Board of Directors on 15 August 2016. Mr Koraleski, 65, will serve on Martin Marietta's Audit Committee, Management Development and Compensation Committee, and Executive Committee. At its Annual Meeting of Shareholders in May, Donald (Don) W Slager was elec... |