Cement News tagged under: corporate
Change in LafargeHolcim leadership in India10 February 2016, Published under Cement NewsLafargeHolcim announced yesterday that Martin Kriegner, currently Area Manager Central Europe, will be appointed Head of India, effective 1 March 2016. He will report to Eric Olsen, Group CEO, and succeed Bernard Terver who has decided to retire. Martin Kriegner joined LafargeHolcim in 1990 and has previously held several senior leadership positions in the group, including CFO and CEO of group operations in Austria as well as Head of Lafarge India and Regional President Cement for Asia. He... |
Fitch affirms Siam Cement at 'A(tha)', Outlook Stable10 February 2016, Published under Cement NewsFitch Ratings (Thailand) Ltd has affirmed The Siam Cement Public Co Ltd's (SCC) National Long-Term Rating at 'A(tha)', National Short-Term Rating at 'F1(tha)' and its senior unsecured debentures at 'A(tha)' with a 'Stable' outlook. Fitch notes that SCC's strong operating cash flow led to an improvement in credit metrics in 2015. EBITDA increased to above THB70bn (US$1.98bn) which saw FFO (Funds From Operations) net-adjusted leverage reduce to 2.5x. "Whilst this is below the positive rating ... |
Martin Marietta Materials reports record full-year net sales and profitability10 February 2016, Published under Cement NewsMartin Marietta Materials Inc reported its results for the 12 months to the end of December 2015 with record full-year net sales and profitability. Consolidated net sales in 2015 reached US$3.3bn from US$2.7bn a year earlier. Gross profit climbed to US$721.8m from US$522.4m in 2014. Ward Nye, chairman, president and CEO of Martin Marietta, stated: "For the full-year 2015, we achieved record net sales and profitability, expanded consolidated gross profit margin (excluding freight and del... |
New Holcim Romania CEO appointed10 February 2016, Published under Cement NewsSofiane Benmaghnia has been appointed the new CEO of Holcim Romania, effective 1 April 2016. He replaces François Petry who took over as CEO of Aggregates Industries, the UK subsidiary of the recently-formed LafargeHolcim group. Algerian-Canadian Mr Benmaghnia joined LafargeHolcim in 1999 as a financial analyst. Since then, he has built his career within the group, working in several markets where LafargeHolcim operates (North America, Middle East, Africa and Europe). He has over 16 years o... |
Mexico: Holcim launches new cement10 February 2016, Published under Cement NewsHolcim México has launched a new cement, Holcim Fuerte, on the local market. The product is targeted at the self-construction and housing sector. The new product offers a 30 per cent improvement in terms of mixing and placing, a 10 per cent higher performance and 50 per cent less cracking, according to the company. Holcim has invested around MXN133m in developing the latest addition its product range, with two years of laboratory research and field trials. |
LafargeHolcim nominates new chairman of the Board of Directors09 February 2016, Published under Cement NewsLafargeHolcim announced yesterday that Wolfgang Reitzle, chairman of the Board of Directors, has informed the Board that he will not stand for re-election at the company’s May 2016 AGM. "The Board regrets this decision while acknowledging Mr Reitzle’s wish to pursue other business activities that will require his fullest attention, in particular the chairmanship of the Linde Supervisory Board," the group said in a statement. Mr Reitzle was instrumental to the successful merger between La... |
LafargeHolcim receives revised divestment order from India09 February 2016, Published under Cement NewsLafargeHolcim has received a revised order from the Competition Commission of India (CCI) to divest its interest in Lafarge India, including three cement plants and two grinding stations with total capacity of 11Mta. " The proposed transaction is an alternate remedy for the merger of the group's legacy companies and now forms part of the company's CHF3.5bn (US$3.54bn) divestment target in 2016," LafargeHolcim said in a statement. Last week the building materials giant said it was reviewi... |
FLSmidth receives large cement order in Algeria09 February 2016, Published under Cement NewsFLSmidth has signed an EPC (Engineering, Procurement and Construction) contract with a value of more than EUR200m with SARL Amouda Ingineering for the supply of a greenfield cement plant in Algeria. The plant will be located in El Beida (Laghouat), approximately 400km from the capital Algiers. The order includes engineering, equipment supplies, construction, commissioning and training. Once completed, the cement plant will have a capacity of 6000tpd. "EPC solutions are increasingly req... |
Domestic sales drive Pakistan dispatch growth08 February 2016, Published under Cement NewsPakistan cement dispatches increased by 6.38 per cent to 21.3Mt in the first seven months of the current fiscal compared to 20Mt in the corresponding period of FY14-15, according to the All Pakistan Cement Manufacturers Association. The increase is attributed to robust growth in domestic dispatches, which rose by 15 per cent YoY to 17.9Mt. Exports, on the other hand, declined by almost a quarter to 3.4Mt from 4.5Mt a year earlier. Closer analysis of domestic dispatches shows shipments f... |
Russia's Sberbank sells 6.12% stake in LafargeHolcim08 February 2016, Published under Cement NewsRussia's Sberbank confirmed on Friday it had sold a 6.12 per cent stake in LafargeHolcim to a group of foreign investors. Sberbank acquired a 6.12 per cent stake in LafargeHolcim in January from Eurocement Holding AG as part of a repurchase agreement. |