Cement News tagged under: corporate
Hanson UK appoints new CEO21 January 2016, Published under Cement NewsDaniel Cooper has been appointed chief executive officer of Hanson UK, replacing Patrick O’Shea, who stepped down at Christmas after eight years at the head of the construction materials business. Daniel was previously northern regional general manager for Hanson Australia. He graduated from Murdoch University in Perth with a double major in commerce and economics and joined Pioneer Concrete in Australia in 1993. Hanson acquired Pioneer in 2000 and Daniel held a number of operational, comme... |
Bolivia: Oruro plant online in 201721 January 2016, Published under Cement NewsWork on the new Oruro cement works in Caracollo, owned by Empresa Pública Productiva Cementos de Bolivia (Ecebol), is steadily progressing. Following an inspection of the construction of the Oruro cement works in Caracollo, engineering works have advanced by 17 per cent and the overall project has been completed by around a quarter. Therefore, the commissioning of the plant is expected in 2017. The plant covers an area of 9ha, excluding the quarry and reflects an investment of around U... |
UltraTech 3Q revenues rise 5%20 January 2016, Published under Cement NewsIndian cement major UltraTech Cement reported five per cent revenue growth for the 3QFY15-16, driven by seven per cent volume growth while the cement pricing environment remained subdued. During the September-December 2015 period, consolidated net sales increased to INR61.08bn (US$898m) versus INR58.32bn in the corresponding period of the previous year. EBIT stood at INR12.45bn, up by 18 per cent YoY from INR10.58bn. Profit after tax soared by 36 per cent compared to last year (INR5.46bn... |
Holcim Indonesia completes acquisition of Lafarge Cement Indonesia20 January 2016, Published under Cement NewsHolcim Indonesia Tbk has acquired Lafarge Cement Indonesia, following the merger of the two parent companies. The company has signed a conditional purchase agreement with respect to the purchase of all the shares owned by Financière Lafarge SA of Lafarge Cement Indonesia on 29 December 2015. Closing of the transaction is dependent on the fulfillment of several conditions, including approval by relevant authorities. The company received funds from Holderfin BV – SMCB's controlling... |
Southern Province Cement 4Q15 results beats estimates20 January 2016, Published under Cement NewsSaudi-based Southern Province Cement Co (SPCC) posted a strong set of results for 4Q15, with net profits at SAR298m (US$79.5m), coming in ahead of Al Rajhi Capital and consensus estimates of SAR263m and SAR257m, respectively. The rises came on the back of increased sales volumes and lesser use of imported clinker, which in turn led to lower cost of goods sold, Al Rajhi Capital said. The company’s top-line continued to grow at a healthy rate, driven by new expansion and stable cement pri... |
Sagar reportedly in talks to buy Jaypee's Andhra Cements19 January 2016, Published under Cement NewsSagar Cements is in advanced talks to acquire Andhra Cements from the Jaypee Group, the Economic Times (ET) of India has learnt from two sources. JSW Cement is another potential contender, according to the sources. Andhra Cements has two plants in the southeastern Indian state of Andhra Pradesh with a combined capacity of 2.6Mta. It also has a 25MW captive power plant under construction. The sources said that Sagar Cements will make an open offer to the minority shareholders of Andhra Cem... |
SCC Cement-Building Materials division facing near-term challenges19 January 2016, Published under Cement NewsSiam Cement Co (SCC) is expected to report good fourth-quarter earnings, but its Cement-Building Materials' (CBM) division is expected to come under pressure from depreciation expenses related to Asean cement plants and weaker consumption in its home market of Thailand, Bualuang Securities writes. The research house expects SCC to report a consolidated 4Q15 net profit of THB9.5bn, up eight per cent YoY and six per cent QoQ. The assumed YoY increase is due mainly to stronger Chemicals pe... |
Saudi Cement Co reports drop in 4Q profit19 January 2016, Published under Cement NewsSaudi Cement Co reported a 32.8 per cent drop in fourth-quarter net profit on account of lower sales and an impairment charge for two kilns. In the three months to the 31 December 2015, the cement producer posted a net profit of SAR180m (US$48.03m), down from SAR268m in the corresponding period of 2014, the company said in a bourse filing. The drop was attributed to lower sales, and booking an impairment for two kilns at its Hofuf plant. The company had said last month it would book a SAR... |
KKR to swap stake in Dalmia Cement with listed parent18 January 2016, Published under Cement NewsPrivate equity firm KKR is swapping its stake in Dalmia Cement for a piece of its public listed parent, according to a stock market disclosure on Friday. "Dalmia Bharat Ltd (DBL) signed a definitive agreement with KKR, under which it will acquire KKR's 15 per cent stake in DCBL in return of KKR getting 8.5 per cent stake in DBL as well as INR600 crore [INR6bn/US$88.7m] in cash," Punit Dalmia, managing director of Dalmia Bharat Group, told the Press Trust of India. This deal not only simpl... |
Philippines: Republic Cement & Building Material plans to delist18 January 2016, Published under Cement NewsRepublic Cement & Building Materials Inc (RCBM) has applied for delisting of its shares from the Philippine Stock Exchange (PSE), effective 15 March 2016.The move follows the acquisition by AEV CRH Holdings of RCBM. Last August AEV CRH conducted a tender offer for 649.08m common shares held by RCBM’s minority shareholders at PHP10.26 (US$0.21) each. As of 15 September, RCBM’s publicly-owned common shares comprise approximately 0.91 per cent of its outstanding capital stock. According to the... |