Cement News tagged under: corporate
US performance gives Cementos Argos strong 1Q1627 May 2016, Published under Cement NewsIn the 1Q16 Cementos Argos reported an income of COP2.2trn (US$720.1bn), up 334 per cent compared to the same period in 2015. EBITDA ascended to COP425bn, a 38 per cent increase, while the EBITDA margin increased 60 basic points to close at 19.2 per cent. In March the company paid two loans acquired in 2015 with Banco de Crédito del Perú, totalling COP100bn. With this transaction, Grupo Argos' debt was COP1.55trn. The US regional division had outstanding performance thanks to better ... |
Luxembourg: worker killed at Rumelange plant27 May 2016, Published under Cement NewsA worker has been killed after falling into a grinder at Cimalux’s Rumelange plant, reports the Luxemburger Wort. The plant is a subsidiary of the Dyckerhoff Group, which in turn is owned by Buzzi Unicem, and produces clinker for plants in Luxembourg and Germany. The worker, who has not been named, is a 59-year-old French citizen who was pronounced dead on the scene. An investigation into the cause of the accident is currently underway. |
Romania: CRH Ciment sees profits rise 40% in 201527 May 2016, Published under Cement NewsThe Romanian subsidiary of CRH, CRH Ciment, has released performance figures for 2015, reports Romania Insider. CRH Ciment saw turnover reach EUR189m (US$211m) in 2015, up 23 per cent YoY. Profits climbed faster still, reaching EUR30.1m, up 40 per cent YoY. The business was acquired by CRH from Lafarge as part of the divestment process that accompanied the formation of LafargeHolcim. Holcim Romania remains the largest cement producer in the country. |
Cemex sells its Bangladesh operations to Siam City27 May 2016, Published under Cement NewsCemex has closed the sale of its operations in Bangladesh and Thailand to Siam City Cement for approximately US$53m.The proceeds obtained from this transaction will be used mainly for debt reduction and for general corporate purposes. |
Malaysia: Lafarge takes 1Q16 hit on net profits26 May 2016, Published under Cement NewsLafarge Malaysia Bhd is optimistic about its prospects this year despite having had a challenging 1Q16. The company's net profit fell nearly 72 per cent to US$5m in the first quarter of this year from US$17.9m in the same period a year earlier. President and CEO, Thierry Legrand, attributed this to lower contribution from the cement segment, following continued price competition and one-off integration costs following the acquisition of Holcim (Malaysia) Sdn Bhd. "But are we are well-po... |
New Zealand: Holcim Westport works close26 May 2016, Published under Cement NewsThe closure of Holcim’s Westport cement works next month will result in a loss of jobs and profits for Westport Harbour Ltd (WHL). Holcim is Westport’s main customer, with its cement shipping generating over 80 per cent of WHL's revenue. WHL is a subsidiary of Buller Holdings Ltd (BHL). BHL chief executive Stephen Lowe said seven people would lose their jobs, including five dredge crew and to engineers. They will ensure the dredge and tug remains operational so that it can be used immediat... |
Saudi Cement to sell 40% stake in Kuwaiti firm26 May 2016, Published under Cement NewsSaudi Cement Company announced signing a contract to sell its entire stake of 40 per cent in Group International Cement Company, a Kuwaiti closed joint stock company. The total value of the contract amounts to KWD1.989m (US$6.58m/SAR 24.7m), the company said in a filing to the Saudi Stock Exchange. "The financial impact will be seen in the company's profits for the 2Q016 as a gain from selling of investment amounting to KWD50,000 after considering exchange rate differences (increase... |
Kazakhstan: devalued tenge affects Steppe Cement25 May 2016, Published under Cement NewsThe sharp devaluation of the Kazakh tenge saw the 2015 results of Steppe Cement affected as import pressures waned. Until August 2015 local producers had to lower their selling prices to fend of imports into Kazakhstan due to the relative strength of the tenge against the rouble. As a result, sales volumes in tonnes rose by only two per cent YoY to 1,643,136t in 2015 from 1,612,709 in 2014 while prices fell by eight per cent. After September imports slowed significantly, along with the econo... |
India: HeidelbergCement 4Q FY16 margins up 16.5%25 May 2016, Published under Cement NewsOperating margins of HeidelbergCement India jumped 18 per cent in the fourth quarter of FY16 compared to 16.5 per cent in the same period last year. Speaking to CNBC TV, said Jamshed Naval Cooper, CEO and MD of HeidelbergCement India said, "Lower pricing on the revenue front and improved operating efficiencies helped the company post good results in the 4Q of FY16." "For the fourth quarter the volume has been up by about two per cent. The costs have been lower by about 3.9 per cent. On ... |
Ambuja Cement adds 0.9Mta to Sankrail grinding unit25 May 2016, Published under Cement NewsIndia’s Ambuja Cement has added 0.9Mta of capacity to its Sankrail grinding unit near Kolkata. The INR3.38bn (US$50.2m) project was commissioned on 24 May 2016. As a result of the expansion, the plant’s current capacity now stands at 2.4Mta. The project included installation of 140tph Thyssenkrupp roller press, increasing the capacity of Cement Mill 1 to 235tph in combo grinding and two additional 240tph packers. Speaking on the occasion, Ajay Kapur, MD CEO Ambuja Cements said, "I am... |