Cement News tagged under: corporate
HeidelbergCement improves margins and profit18 March 2016, Published under Cement NewsHeidelbergCement's turnover increased by 6.7 per cent last year to EUR13,465m and the EBITDA improved by a 14.2 per cent to EUR2612.7m and the trading profit advanced by 15.7 per cent to EUR1846.1m. After a 14.3 per cent reduction in net interest payments to EUR396.3m, the pre-tax profit rose by 41.1 per cent to EUR1313.4m and the net attributable profit jumped by 64.7 per cent to EUR800.1m after a 54.3 per cent higher tax charge and a minorities charge of 9.2 per cent lower at EUR183.1m.... |
Glenwood PE to acquire Lafarge Halla18 March 2016, Published under Cement NewsSouth Korea’s Glenwood Private Equity (PE) has inked a deal to acquire Lafarge Halla Cement Corp. from LafargeHolcim Ltd. for about KRW630bn (US$542m), said the company Thursday. LafargeHolcim said it expects to close the sale of Lafarge Halla, Korea’s fifth-largest cement producer, in the 2Q16, subject to final approvals. The sale follows several other ownership changes in the South Korean cement market as producers battle with slack cement demand resulting in some companies relying on... |
AfriSam breaks ground on new Lesotho facility18 March 2016, Published under Cement NewsAfriSam has broken ground on a blending and packing facility with an initial capacity of 0.2Mta at the company’s existing distribution centre in Maseru, Lesotho, South Africa. Completion is scheduled for 3Q16. AfriSam has partnered with a local company, Cement Industries Ltd, to co-invest in the new plant project. “AfriSam’s new plant will comfortably meet the local cement demand and will be capable of producing specialised products for large infrastructure projects such as the Lesotho H... |
Fitch: West China Cement's weaker operating results outweighed by Anhui Conch's takeover18 March 2016, Published under Cement NewsFitch Ratings believes West China Cement Ltd's weaker operations – as reflected in the 2015 results – is outweighed by its pending takeover by Anhui Conch Cement Company Limited (Conch, A-/Stable). Fitch's Rating Watch Positive on WCC is driven by the potential further integration between Conch and WCC, which will be resolved once the transaction is completed. WCC's performance in 2015 was a reflection of the weak cement market throughout the year. Its EBITDA margin narrowed to 26.6 per c... |
LafargeHolcim: synergies and net debt targets exceeded in 201517 March 2016, Published under Cement NewsLafargeHolcim’s FY15 results show a 4Q15 net loss of CHF2.86bn (US$2.94bn), including CHF3bn impact of asset impairment and other charges. The company’s net debt level was recorded at CHF17.3bn (US$17.8bn), while 4Q15 cash flow was CHF813m (US$839.6m) after adjusting for one-off items of CHF166m. The group’s 4Q15 results were impacted by challenges in the markets of Brazil, Switzerland, China, Indonesia, Zambia, Nigeria and Azerbaijan. Lower CO 2 revenues and adverse foreign exchange movem... |
Kenya: Bamburi Cement sees 50% profit hike in 201517 March 2016, Published under Cement NewsBamburi Cement’s profit jumped 50.4 per cent YoY to KES5.8bn (US$748m) in 2015 as both domestic and overseas sales saw growth. Operating expenses increased 29 per cent YoY to KES5.2bn. The profit was achieved despite a slowing Kenyan economy in 4Q15, according to Bruno Pescheux, group MD. The 2015 market conditions were more favourable compared to 2014, with stable micro-economic conditions for most of the year in both the domestic and regional markets,” he said. The company saw its operati... |
Ghana to restrict cement imports17 March 2016, Published under Cement NewsThe Ghanaian government has announced plans to restrict cement imports into the country with Dr Ekwow Spio-Garbrah, Minister of Trade and Industry, proposing the curtailment. "The Ministry of Trade and Industry proposes through legislative instrument to impose a ceiling on the annual importation of cement into Ghana. Companies that wish to import bagged cement shall be issued a permit to avoid the chaos that has lately saddled the sector," the statement said. Cement importers will have... |
Domicem inaugurates new mill17 March 2016, Published under Cement NewsDomicem, owned by Italy’s Colacem, has inaugurated its new vertical mill at its plant in south-central San Cristobal province of the Dominican Republic. The new mill was supplied by Loesche GmbH and represents an investment of over DOP900m (U$19.66m). It will enable Domicem to reduce power consumption by around 35 per cent while lifting production capacity by over 10 per cent. The project was realised in 15 months and part of the company’s expansion plan, according to Marco Focardi, pres... |
PPC eyes longer-term growth outside of Africa16 March 2016, Published under Cement NewsPPC has unveiled a new expansion strategy that envisages doubling the business every 10 years and growing beyond its traditional markets in Africa. In an investor presentation posted on PPC's website ahead of this week’s Merrill Lynch conference in Sun City, the company set out its ambitions for the future even as it warned of falling cement sales in the first months of FY16. In the presentation, PPC states that it is on course to raise capacity to 12.7Mta by 2018 (a 47.7 per cent inc... |
Cementir: hearing with creditors and opening of creditors’ vote for Sacci's composition16 March 2016, Published under Cement NewsCementir Holding has announced that the hearing with creditors for Sacci’s composition, which includes the offer to purchase its business divisions submitted by Cementir Holding’s subsidiary Cementir Italia Spa, was held on 14 March 2016 before the Court of Rome. The offer was formally accepted by the Board of Directors of Sacci Spa during its meeting on 10 March 2016. Sacci’s creditors will be able to express their vote within 20 days of the hearing, in accordance with Article 178, para... |