Cement News tagged under: corporate
China Shanshui begins legal proceedings against two former directors04 December 2015, Published under Cement NewsChina Shanshui Cement Group said after trading hours Thursday that it has begun legal proceedings against former directors Zhang Caikui and Zhang Bin for alleged unlawful conduct and breach of fiduciary duties. Both Zhangs have been removed as directors of Shandong Shanshui, a unit of the Hong Kong-listed cement company, and the company has terminated their roles in the company for "their misconduct and negligence," it said in an exchange statement. (Source: Dow Jones) |
Reliance may get final bids for cement unit by year-end, India04 December 2015, Published under Cement NewsReliance Infrastructure is expected to get final bids from the shortlisted bidders for the sale of its cement business by 24 December 2015, according to sources close to the sale process. Last month the company announced it would be divesting of its cement and roads segments to focus on its defence business. In March 2015, Reliance announced it would be acquiring Pipavav Defence & Offshore Engineering Co in an all-cash deal. In terms of the sale of its cement unit, Reliance said it ha... |
Egypt: Arabian Cement Co reports rise in 9M15 volumes but lower prices03 December 2015, Published under Cement NewsArabian Cement Co (ACC) of Egypt reported a four per cent decline in revenues to EGP1711m (US$219m) for the first nine months of 2015, due to a 12 per cent decline in prices which was partially offset by a nine per cent increase in volumes. Cost per tonne stood at EGP329/t less than the EGP352/t recorded in 9M14. The cost reduction is due to less imported clinker and enhanced energy efficiency. Meanwhile, cost per tonne for the 3Q15 was reduced by 12 per cent YoY to EGP308/t. EBITDA st... |
Cementos Argos names new CEO03 December 2015, Published under Cement NewsThe Board of Directors of Cementos Argos has unanimously appointed Juan Esteban Calle as the new CEO of the company, effective 1 April 2016, replacing Jorge Mario Velasquez, who was recently elected as the new CEO of Grupo Argos. Juan Esteban Calle, new CEO of Cementos Argos, effective April 2016 The designation of Juan Esteban Calle was made by the Board of Directors of Cementos Argos, which is mostly composed by independent members. The selection process considered both, in... |
LafargeHolcim CMD: confident message from management02 December 2015, Published under Cement NewsLafargeHolcim hosted a Capital Markets Day (CMD) in London yesterday where management confirmed the group’s CHF8bn 2018 EBITDA target, its capital allocation strategy and FCF focus. During the event, management – led by new CEO Eric Olsen – presented its strategic objectives and approach for unleashing potential to extract maximum value from its portfolio. Top priority for the group is generating CHF10bn FCF in 2016-18. The key drivers for this are: improvement in EBITDA to CHF8bn by 2... |
Cemex: senior level organisational changes02 December 2015, Published under Cement NewsCemex announced today changes to its senior level organisation, effective 1 January 2016. All of the executives named below are current executive committee members: Juan Romero Torres has been ratified as President of Cemex Mexico. Ignacio Madridejos Fernández has been appointed President of Cemex USA. Jaime Gerardo Elizondo Chapa has been appointed President of Cemex Europe. This new region will now integrate all the company's operations in Europe including Spain and Croatia. ... |
Standard & Poor's Ratings puts West China Cement on CreditWatch positive01 December 2015, Published under Cement NewsStandard & Poor's Ratings Services said that it had placed its 'B+' long-term corporate credit rating and 'cnBB' long-term Greater China regional scale rating on West China Cement Ltd (WCC) on CreditWatch with positive implications. At the same time, it placed our 'B+' issue rating and 'cnBB' long-term Greater China regional scale rating on the company's outstanding senior unsecured notes on CreditWatch with positive implications. "We placed the ratings on CreditWatch because we believe t... |
CEMBUREAU position on COP2101 December 2015, Published under Cement NewsAs world leaders convene in Paris to discuss a new binding international climate change agreement aiming at limiting global warming below 2˚C, CEMBUREAU, the European Cement association, said it is closely monitoring the COP 21 negotiations as climate policy is relevant both for the cement manufacturing process as for the use of the downstream product, concrete. With the actions it sets forth in its 2050 Low Carbon Roadmap, the cement industry is fully in line with the goal to keep temperatu... |
Anhui Conch to double West China Cement stake30 November 2015, Published under Cement NewsAnhui Conch Cement Co has agreed to more than double its stake in West China Cement Ltd for HK$4.59bn (US$592m). Conch International Holdings (HK), a wholly owned unit of Anhui Conch, plans to increase its holding in Shaanxi-based West China from 21.17 per cent to to 51.57 per cent, the companies said in a filing to the Hong Kong exchange Friday. If the transaction goes through, Anhui Conch will have to make a mandatory cash offer for all shares of West China it doesn’t own, the filing show... |
LH says its Australian and New Zealand operations are not up for sale30 November 2015, Published under Cement NewsLafargeHolcim said its Australian and New Zealand operations are not currently on the sale block, according to Bloomberg reports following press speculation at the end of last week. Media reports on Friday suggested that the world's largest cement producer was considering exiting the region with the disposal of its operations in Australia and New Zealand for a potential amount of AUD3bn (CHF2.2bn) However, Bloomberg this morning reported that LafargeHolcim has said that the operations ... |