Cement News tagged under: corporate
Lafarge not to proceed with US$765.8m Indian deal, Birla says03 February 2016, Published under Cement NewsLafarge's Indian unit has scrapped an agreement to sell two of its cement units to Birla Corp, the latter said in an exchange filing. On Tuesday Birla Corp said in a notice to the Bombay Stock Exchange that it had now been informed about Lafarge India's "inability to proceed" with the transaction. After consultation with lawyers, the company “has decided not to accept their contention and is in the process of taking appropriate legal measures,” it said. In August last year, Lafarge... |
China: CNBM warns of 70% drop in 2015 profit03 February 2016, Published under Cement NewsCNBM has issued a profit warning, predicting that the net profit for 2015 will be 70 per cent down YoY, mainly attributable to the slowdown in cement demand growth and severe overcapacity in the industry. As a result, the Chinese cement major saw a significant drop in cement prices. Earlier this week, Huaxin Cement also said it expects 2015 net profit to fall 90-95 per cent YoY due to weak domestic demand, intense competition and a sharp fall in cement prices. |
Havre and La Couronne units to become grinding centres03 February 2016, Published under Cement NewsAs part of the restructuring following the merger LafargeHolcim will be closing down cement production at the Havre and La Couronne cement works in France. Havre will be converted into a grinding station with 31 staff (compared with the current 152) while La Couronne will become a grinding unit with 27 staff. Last week, Eric Olsen, LafargeHolcim CEO, said the company was planning to close down some of its plants as capacity utilisation was currently around two-thirds, well below targe... |
India: Shree Cements reports 10% rise in quarterly net profit03 February 2016, Published under Cement NewsShree Cements reported a 10 per cent rise in standalone net profit at INR10.286bn (US$0.151m) for the quarter ended 31 December 2015 compared to a profit of INR9.368bn a year earlier, it said in a Bombay Stock Exchange filing. Income rose by 18 per cent to INR18.288bn in the October-December quarter versus INR154.45bn during the same quarter last fiscal. Total expenses, however rose by 19 per cent to INR170.71bn. Capacity expansion In a separate filing, Shree Cement said it will ex... |
China: Huaxin issues profit warning02 February 2016, Published under Cement NewsHuaxin Cement, LafargeHolcim’s subsidiary in China, has warned that it expects 2015 net profit to fall 90-95 per cent YoY due to weak domestic demand, intense competition and a sharp fall in cement prices. JP Morgan’s China cement research team estimates that cement prices in Huaxin’s key markets declined by five per cent QoQ in 1Q16 to-date to CNY254/t. The research house also notes that LafargeHolcim aims to restructure its China operations by integrating the management teams of Huaxin ... |
LafargeHolcim: Reitzle to return to Linde?02 February 2016, Published under Cement NewsLafargeHolcim’s current president, Wolfgang Reitzle, could be returning to Germany-based gas producer Linde to become head of the Supervisory Board after the mandatory two-year waiting period which ends on 20 May 2016, according to the Süddeutsche Zeitung. Mr Reitzle was CEO of Linde between 2003-14 and turned the gas and equipment supplier to a world market leader. However, his appointments to the Supervisory Boards of Continental, Springer, Hawesko and Medical Park could prove an issue fo... |
Suez Cement to convert Helwan and Torah plants to use coal and RDF02 February 2016, Published under Cement NewsSuez Cement is aiming to convert Torah and Helwan plants to use coal and RDF in addition to the already-used HFO following the conversion of Kattameya and Suez plants in 2015. According to the management, the company would start the conversion operation in February and July for Helwan and Torah plants, respectively. This conversion operation is expected to take 12-18 months and would result in the usage of coal for 70 per cent of the energy for both plants. Helwan Cement would use RDF 20... |
UNTHA UK appoints new managing director02 February 2016, Published under Cement NewsUK-based industrial shredding specialist UNTHA UK has appointed a new managing director. Marcus Brew takes the reins at the helm of the company, following a promotion from his previous role of sales director. Chris Oldfield, who has led the shredding business since 1997, will become chairman, concentrating on UNTHA UK’s over-arching strategic direction and other wider ambassadorial responsibilities in industry. With a sales target of GBP10m for the new financial year, UNTHA says the prom... |
India: Birla Corp reportedly front-runner for Reliance assets01 February 2016, Published under Cement NewsBirla Corp Ltd is set to buy the cement assets of Reliance Infrastructure Ltd with the deal set to be sealed within the next few days, according to local media reports. “It will be signed formally in the coming days,” said one of the two people cited above. “Even though discussions took nearly a month’s time to finalise, other contenders weren’t really considered for the sale,” LiveMint reported sources familiar with the matter as saying. Birla Corp’s bid for Reliance Cement Co Pvt Ltd’s a... |
China Shanshui unit takeover01 February 2016, Published under Cement NewsChina Shanshui Cement Group said it has taken over the headquarters of its main operating unit, Shandong Shanshui Cement Group Ltd, following a management dispute. The Chinese manufacturer "has smoothly taken over the headquarters and additional three factories” of the Shandong Shanshui Cement, with the assistance of the local police in the northern city of Jinan, it said in a filing dated 31 January. The firm, which defaulted on onshore debt last year, announced plans in January to repay... |