Cement News tagged under: corporate
Sberbank and Eurocement agree debt restructuring deal16 March 2016, Published under Cement NewsRussia's leading cement producer, Eurocement group, and Sberbank CIB have agreed on conditions for restructuring the company’s loan portfolio. The deal envisages pushing back loan repayments worth RUB42bn (US$597.8m) and US$360m by up to six years and optimisation of interest rates. The conditions for restructuring the debt portfolio will enable Eurocement group to take a more flexible approach to financing its operational activities and help it achieve strategic goals. "Sberbank C... |
Algeria: Sour El Ghozlane back in production16 March 2016, Published under Cement NewsBuzzi Unicem's cement plant at Sour El Ghozlane, Algeria, has returned to production following the repair and installation of new electrostatic precipitators (ESPs). The production facilities have been out of action for two months, resulting in a cement shortage in the country’s central region. |
Vicat’s profits declines in most markets15 March 2016, Published under Cement NewsFrench cement major Vicat saw its profits decline in most markets last year with the USA and India being the only exceptions. Turnover improved by 1.5 per cent in 2015 to EUR2457.9m and EBITDA was up by the same percentage to EUR448m, while at unchanged parameters there would have been declines of 4.4 per cent and 4.3 per cent, respectively. The trading profit fell by 4.8 per cent to EUR249.7m, with the reduction at unchanged parameters being 10.4 per cent as the stronger dollar had ... |
CRC attributable profit drops 76% YoY15 March 2016, Published under Cement NewsChina Resources Cement (CRC) said its profit attributable to owners for the year ended 31 December 2015 dropped 75.9 per cent YoY to HKD1015m (US$130.8m). Turnover was HKD26,779m, a decrease of 18 per cent from a year earlier. The consolidated gross margin was 24 per cent, representing a decrease of 7.3 percentage points from 31.3 per cent for 2014. The average selling price of cement last year was HKD269.9/t, down 20.2 per cent over 2014. The company noted that during 2015, demand for ... |
DG Khan: southern expansion progressing well15 March 2016, Published under Cement NewsPakistan producer DG Khan Cement has reported that its southern expansion project is progressing well and is scheduled for commissioning in 2QFY18. The 2.7Mta plant, which will involve an investment of US$275m, is being established in the Balochistan province of Pakistan. According to the company's half-year results, a letter of credit for the mills and and packing plant has been opened in favour of Loesche GmbH and Haver & Boecker of Germany. Civil work contracts for the project have be... |
Paraguay: INC expects annual sales up US$60m due to new mill15 March 2016, Published under Cement NewsParaguay’s Industria Nacional del Cemento (INC) expects to see annual sales up by US$60m following the commissioning of its new mill in 2H16, according to CEO, Jorge Méndez. At present, the company sells around US$90m in bagged cement. Assembly of the new mill, which is manufactured by Sinoma of China, will be carried out by local company Engineering SA. The project represents an investment of US$11.5m. “In a few weeks’ time, the mill will embark in China and arrive in the middle of the y... |
Titan America LLC suspends construction of new Castle Hayne cement plant, USA14 March 2016, Published under Cement NewsTitan America LLC announced today that project economics no longer support the construction of a cement plant in Castle Hayne, NC, USA. According to company officials, the evolution of supply and demand balances in the specific regional markets does not support the relatively high cost of constructing a new cement plant. “Our decision to suspend construction on the cement plant in Castle Hayne is driven by basic project economics,” said Bill Zarkalis, Titan America’s CEO. “The pace of de... |
Court annuls information request by EC into cement company competition probe14 March 2016, Published under Cement NewsThe European Court of Justice has annulled a request for information the European Commission had made to several cement makers in a cartel probe. The European Commission in 2010 opened an investigation into several cement makers – including HeidelbergCement, Holcim and Lafarge – saying it suspected the companies of possibly restricting imports into the EU, divvying up markets and coordinating prices. A year later, the commission sent lengthy questionnaires to the companies, requesting... |
Cemex divests of Bangladesh and Thailand units, potential sale of minority stake in Philippine assets11 March 2016, Published under Cement NewsCemex announced yesterday that it has signed an agreement for the sale of its operations in Bangladesh and Thailand to Siam City Cement Co for approximately US$53m. Meanwhile, Cemex's Philippine subsidiary has presented an application to Philippine authorities for the potential sale of a minority stake of assets in the southeast Asian country. Bangladesh and Thailand divestitures Proceeds obtained from the Bangladesh and Thailand transaction will be used mainly for debt reduction and for ... |
KHD chief executive officer resigns11 March 2016, Published under Cement NewsThe Supervisory Board of KHD Humboldt Wedag International AG (KHD) today informed the KHD Management Board about the resignation of Johan Cnossen as CEO and member of the Management Board with immediate effect. Mr Cnossen has decided to step down for personal reasons. His responsibilities will be taken over for an interim period by the other Management Board members, KHD said in a statement. |