Cement News tagged under: corporate
South Africa: NUM signs one-year wage agreement with LafargeHolcim23 February 2016, Published under Cement NewsSouth Africa's National Union of Mineworkers (NUM) signed a one-year wage agreement with the local unit of cement maker LafargeHolcim, it said on Monday, ending a strike that had just entered its second week. NUM said its members will receive an eight per cent pay increase and other benefits including raises on housing grants and allowances for taking on temporary positions. (Source: Reuters) |
Bestway consolidated turnover up 45.5%22 February 2016, Published under Cement NewsBestway Cement Ltd (BCL) said that its consolidated net turnover for the first half of FY15-16 soared by 45.5 per cent YoY to PKR21.1bn, largely due to the acquisition of Pakcem Ltd, an increase in domestic demand and stable retention prices. The company's gross margin of PKR8.9bn rose by more than 61.9 per cent over the same period last year. Profit before tax for the period amounted to PKR7.6bn, representing a YoY increase of 37 per cent. Consolidated profit after tax also climbed 47 pe... |
India: Shree Cement receives first non-coal mining lease in Chhattisgarh22 February 2016, Published under Cement NewsShree Cement has won the first ever non-coal mining lease auctioned by the state government of Chhattisgarh, India. The Indian Bureau of Mines (IBM) price of limestone in Chhattisgarh was INR483.17/t. Shree Cement offered to pay INR284/t — the highest bid that was 58.95 per cent of IBM price. The auction process continued for over five hours on Thursday. In all, 192 bids were submitted. “The auction of Karhi Chandi block itself would yield INR4386 crore to the state exchequer at the said... |
Weaker exports reduce clinker production at Toral de los Vados, Spain22 February 2016, Published under Cement NewsClinker production at Cementos Cosmos' Toral de los Vados factory in Spain declined by 10 per cent in 2015 to 600,840t. The drop in production has been mainly attributed to lower exports. According to the director of the factory, Jaime Santoalla: “Our lack of competitiveness is leaving us out of some export markets. In addition, there is also the economic crisis in Brazil, a country that had become a strategic target for us and has seen a substantial reduction in clinker demand. " In M... |
Italcementi increased net loss19 February 2016, Published under Cement NewsItalcementi's turnover improved by 3.5 per cent in 2015 to EUR4301.6m, but EBITDA declined by 10.3 per cent to EUR584m and the trading profit fell by 36.6 per cent to EUR148.4m. The pretax profit was more than halved falling from EUR79.6m to EUR30.9m. The net attributable loss emerged 12 per cent higher at EUR120m. The net debt was 0.6 per cent higher at EUR2169.7m, giving a gearing level of 72.1 per cent compared with 70 per cent a year earlier. Capital expenditure in the year was reduce... |
Restrepo appointed VP of Cementos Argos division18 February 2016, Published under Cement NewsCamilo Restrepo has been appointed the new Vice President of Cementos Argos' Caribbean and Central American regional division, the company announced yesterday. Mr Restrepo began his career with Cementos Argos in 2005 as a research and development analyst and subsequently became an environmental professional and R&D Manager. In 2012 he was appointed as the company's Vice President of Innovation and has since achieved many milestones, including the launch of Argos Center of Innovation (see: ... |
Paraguay: INC kiln out for fuel conversion18 February 2016, Published under Cement NewsParaguay’s Industria Nacional del Cemento (INC) will switch off its kiln in July to carry out a three-month fuel conversion at its Vallemi plant, according to Jorge Méndez, INC’s CEO. It is expected that the kiln will be fired up again in October, using petcoke instead of the current fuel oil. At present the company is preparing a call for tender to clinker suppliers for the delivery of around 180,000t of clinker. This would enable the cement producer to continue the production of 50,000... |
Summit Materials sees volumes and prices increase across most lines17 February 2016, Published under Cement NewsSummit Materials saw volume and prices increase across most lines of business in 2015, with revenue rising by 20.5 per cent led by its West and Cement segments, the company said in a statement. Tom Hill, CEO of Summit, stated: “2015 marked a significant year of progress for our company, in which we meaningfully enhanced our materials exposure, improved our capital position and met or exceeded nearly all our core operating metrics. During the year, we increased our Adjusted EBITDA margin b... |
Lafarge halts EUR20m investment in Sagunto plant, Spain17 February 2016, Published under Cement NewsThe management of Lafarge yesterday made public its decision to halt the expansion of its quarry and its plant at Sagunto, Spain, due to “the uncertainty created by the new local government and the lack of viable alternatives,” according to El Mercantil Valenciano. The cement producer had intended to spend around EUR20m in upgrading its plant. In 2013 Lafarge and the town council of Sagunto agreed for the company to accept the limits to the use of its quarrying concession and move to the o... |
KHD informed of arbitration award17 February 2016, Published under Cement NewsKHD Humboldt Wedag International said it has been informed of an award from a Portuguese arbitration court, whereby KHD and its subsidiary Humboldt Wedag Inc (USA) are jointly ordered to pay damages to a customer in South America. Humboldt Wedag Inc’s arbitration claim for disbursement of outstanding payments, reimbursement for a called bank guarantee, as well as additional compensation (for damages) was denied. The wording and expect impact of the arbitration award are still to be analyse... |