Cement News tagged under: corporate
ThyssenKrupp Industrial Solutions set for 'planet' reorganisation13 May 2016, Published under Cement NewsThe Industrial Solutions business area, the engineering and construction arm of the thyssenkrupp Group, is being reorganised as part of the transformation programme “planets”. The aim is to secure growth, enhance performance, focus more strongly on customers, markets and high-margin service business, and drive culture change within the business area. The modern management structure will focus on customers and business fields while integrating the Marine Systems and System Engineering unit... |
Titan 1Q16 results boosted by US growth13 May 2016, Published under Cement NewsTitan Group posted robust growth in sales and operating performance in 1Q16, primarily on the back of the US market, as well as the improved operation of the plants in Egypt. Consolidated turnover reached EUR337.8m, posting a 19 per cent increase compared to the same period the previous year. EBITDA increased by 86 per cent reaching EUR43.3m. Net profit after minority interests and the provision for taxes were negatively impacted by foreign exchange translation effects, particularly thos... |
Suez Cement hit by Egyptian pound devaluation13 May 2016, Published under Cement NewsIn its quarterly earnings statement for 1Q2016, Suez Cement announced that it has seen cement volumes rise 15.6 per cent YoY. However, net profits for the quarter have fallen to just EGP2m (US$0.2m), down from EGP58m a year earlier. Suez’s revenues were 14.5 per cent higher at EGP1606m, but EBITDA was down 12.5 per cent at EGP140m. Cement demand was driven by both infrastructure projects, and small and mid-sized private sector initiatives. Better energy availability allowed the company... |
Quarterly results disappoint as LafargeHolcim struggles to consolidate13 May 2016, Published under Cement NewsLafargeHolcim's results for the first quarter of 2016 have disappointed analysts as the company announced that EBITDA had fallen by 17 per cent on like-for-like terms compared to the same period in 2015. Despite volume sales of cement, aggregates and ready-mix all rising modestly, LafargeHolcim’s revenues were up just 0.1 per cent like-for-like. The firm cited "challenging" conditions in Nigeria, Brazil and India as the reason for slow growth. The market reacted negatively to the annou... |
LafargeHolcim: cement volumes up 1.4% but revenues flat12 May 2016, Published under Cement NewsIn its results for 1Q16, LafargeHolcim announced that cement volume sales rose by 1.4 per cent YoY with the Asia-Pacific region accounting for most of the improvement. Like-for-like revenues were almost unchanged on 1Q15, rising by just 0.1 per cent to stand at CHF6.062bn (US$6.244bn). In the earnings statement, LarfargeHolcim cited “challenging” conditions in Nigeria, Brazil and India as the reason for slow growth. The company also noted that the first quarter typically saw less activity... |
Cementir's 1Q16 revenue falls 1.1% to EUR218.9m12 May 2016, Published under Cement NewsCementir has announced that its results for the 1Q16, despite being lower than the previous year, are in line with management expectations and show a strong performance of operations in the Scandinavian countries, Malaysia and Egypt, which more than offset the lower earnings in Turkey and the difficulties encountered in Italy and China. The performance for the quarter was adversely impacted by the seasonal effect of the earlier Easter holidays with respect to the previous year, says Cementir... |
North America: fires at plant and quarry12 May 2016, Published under Cement NewsOn Tuesday fires broke out at both the Cemex Balcones Quarry, Texas, USA, and the Lehigh Hanson Materials cement plant in Edmonton, Alberta, Canada. Sara Bouffard, Cemex director of communications, said no one was hurt. The fire was ruled accidental and determined to have been caused by welding. Fire marshal Kory Klabunde said he was unsure how much damage the fire caused, but the investigation was complete. Lehigh Hanson Health and Safety Director, Gerry Sanderson, said the plant was not ... |
Nigeria: Ashaka building power plant12 May 2016, Published under Cement NewsManagement of Ashaka Cement Plc has concluded plans to build its own power plant due to concerns over an inadequate supply of electricity to power its operations. Alhaji Suleiman Yahyah, Ashaka Cement's chairman, has said that the project is expected to reach completion within three years and will contribute its excess power to the national grid. Mr Yahyah noted, “There will be diverse efficiency gains from 2016, for example, developments and operational initiatives, such as the use of l... |
China: Asia Cement and CNBM halt Shanshui offer11 May 2016, Published under Cement NewsFollowing nine months of consideration, Asia Cement and CNBM have said they will not proceed with plans to buy the shares they do not already own in Shanshui Cement. In a statement issued 10 May, the two companies, which combined own nearly 38 per cent stake in the Chinese cement maker, said they have concerns regarding the changes in Shanshui’s board, ongoing disputes and financial difficulties. They said the prolonged suspension of the shares has affected the ability to determine the va... |
Spain: Cementos Portland restructures debt11 May 2016, Published under Cement NewsThe refinancing of the EUR825m syndicated loan of cement producer Portland Valderrivas, a Fomento de Construcciones y Contratas (FCC) company, has been completed, reports Spacol. FCC, the Spanish civil engineering group and main shareholder in Portland, with an 80 per cent stake, offered a 10 per cent trimming to the loan, which matures in July 2016, but the offer was rejected by creditors. More than 50 per cent of the debt of Portland is now in hands of vulture funds, such as Apollo, Dav... |