Cement News tagged under: corporate
CRH changes its segmental reporting structure08 August 2016, Published under Cement NewsFollowing the significant acquisition activity undertaken during 2015, CRH has made some adjustments to its segmental reporting structure. The LafargeHolcim assets acquired in 3Q15 have been fully integrated into the group and will be reported as part of Europe Heavyside, Americas Materials and a newly created Asia reporting segment in the company's 2016 Interim results announcement on Thursday, 25 August 2016. |
LafargeHolcim 2Q16 results05 August 2016, Published under Cement NewsLafargeHolcim released its second quarterly results today, which reported net sales of CHF7.28bn (US$7.47bn). Adjusted operating EBITDA (excluding merger, restructuring and other one-offs) increased six per cent like-for-like in the quarter to CHF1.7bn (US$1.75bn). Net income increased CHF318m (US$326.5m) to CHF452m (US$464m) for the first half of the year and the group's annual divestment target of CHF3.5bn (US$3.59bn) was exceeded. CEO of LafargeHolcim, Eric Olsen, said, “Our focus on p... |
Siam Cement acquires 65% share in Lafarge Holcim Vietnam05 August 2016, Published under Cement NewsLafargeHolcim Ltd has signed an agreement with Siam City Cement Public Company Ltd f or the divestment of its 65 pe rcent shareholding in LafargeHolcim Vietnam, it said on Thursday. The enterprise value of the deal was CHF867m (US$890.7m), on a 100 per cent basis, the Swiss-French group said in a statement. It said the transaction was subject to customary regulatory and shareholder approvals, as well as to a right of first refusal of LafargeHolcim's joint venture partner, and was expec... |
LafargeHolcim changes to Executive Committee05 August 2016, Published under Cement NewsLafargeHolcim has announced changes made to the Executive Committee, which reflect the evolution of the group’s portfolio following recent divestments and the transition into its next phase as its closes the integration phase. New appointments are as follows: Paul Casanova will take responsibility for North America, including Mexico (currently responsible for operations in Latin America) Roland Köhler will add Australia, New Zealand and Trading to his responsibilities (currently res... |
Canada: McInnis Cement CEO quits after new plant cost overruns05 August 2016, Published under Cement NewsThe chief executive officer of McInnis Cement, Christian Gagnon, has stepped down after it emerged that the cost of constructing the company’s new 2.2Mta Port-Daniel integrated plant had gone over budget by CAD450m (US$346m). McInnis’s investment was partly financed by government bodies, including Quebecois provincial authorities and also included a CAD360m (US$277m) loan from the National Bank of Canada. According to Radio-Canada, when news of the spiralling costs of the project first... |
UK: Breedon looks to the future with Hope05 August 2016, Published under Cement NewsThe 200-strong team at the Hope Cement works in Derbyshire celebrated becoming part of Breedon Groupl Plc with a visit from group chairman Peter Tom CBE and group chief executive Pat Ward. They were accompanied by Hope Cement managing director Ashley Bryan, who took them on a plant tour to meet members of staff. Hope cement works is a key asset in the Breedon Group network which has now grown to include around 60 quarries, 27 asphalt plants, just under 200 concrete plants and a major surfa... |
Zimbabwe: Future of proposed Charumbira plant remains uncertain05 August 2016, Published under Cement NewsPlans to build a US$50m cement plant in Charumbira have been called into question after it was admitted that the Chinese investor behind the project had yet to submit a feasibility report. The plant is to be built by the Sino Zimbabwe Cement Company, which saw a 15 per cent fall in sales in the first quarter of 2016. According to reports in News Day, provincial administrator Felix Chikovo said: “The point of entry before any mining commences or any people are resettled is based on a re... |
Titan to take on Brazilian challenge05 August 2016, Published under Cement NewsTitan Cement Group made an unexpected move this week, buying into Cimento Apodi in Brazil. The Greek-based multinational will form a joint venture t o operate the business with the Dias Branco Group and Titan/Sarkis, Sarkis being a vehicle company 94 per cent owned by Titan. Cimento Apodi, situated in Ceará, northeast Brazil, operates the 1800tpd Quixeré cement plant as well as a 0.36Mt grinding unit at Pecém port, near Fortaleza. Some 2Mta of cement production will be added to Titan’s mu... |
Siam City Cement targets regional expansion05 August 2016, Published under Cement NewsIn the last few weeks, Thailand's second-largest cement producer, Siam City Cement (SCCC), has made a significant series of acquisitions to expand its overseas cement portfolio, including its capture of Cemex Bangladesh , Holcim Lanka and a 65 per cent share of LafargeHolcim Vietnam . A stimulus for the increased acquisition plans came when Holcim sold its shares in the Thai cement producer in March 2015, enabling Singapore-based Jardine Cycle & Carriage to buy a 24.9 per cent share i... |
Titan Cement takes US$100m stake in Brazil's Cimento Apodi04 August 2016, Published under Cement NewsGreece's Titan Cement Group has announced that it is to take a 50 per cent equity stake in Companhia Industrial de Cimento Apodi of Brazil. The deal will see Titan invest an estimated US$100m to become joint owner of the company alongside Brazilian conglomerate the Dias Branco Group. Both organisations will acquire a 50 per cent interest in the cement producer. Cimento Apodi is based in the state of Ceará in northeastern Brazil and operates a grinding plant in Pecém and a new integrate... |