Cement News tagged under: corporate
LafargeHolcim reportedly considering Australia, New Zealand exit27 November 2015, Published under Cement NewsLafargeHolcim is believed to be considering an exit from Australia and New Zealand, as part of its strategic portfolio review of non-core assets. Australian investment bankers are said to be trying to secure an advisory role to the company ahead of a potential sale that could be worth up to AUD3bn, according to The Australian Business Review. Talk of the potential Australasian sale emerged within the local investment banking community about six weeks ago. A decision on whether it exits the... |
Vietnam northern province to divest state stakes in Lang Son Cement27 November 2015, Published under Cement NewsThe People’s Committee of Vietnam’s northern province of Lang Son plans to sell state stakes in Lang Son Cement JSC (LCC) at a put-through price is set at VND1380 ($0.06) each plus a margin of 15 per cent, the Dau Tu newspaper reported. LCC has a registered capital of VND58.39bn, of which the committee holds a 43.55 per cent stake, according to CaFef.vn newswire reported. |
CPA revises construction outlook26 November 2015, Published under Cement NewsThe Construction Products Association (CPA) expects further growth for the UK construction industry, although the latest forecast reflects a downward revision since the summer owing to a slowdown in third-quarter housing and commercial activity. In a statement released earlier this week, the association said construction output is expected to increase 3.6 and 3.8 per cent in 2015 and 2016, respectively, revised down from 4.9 per cent and 4.2 per cent in the Summer Forecast. Highlights fro... |
C&CA elects chairman for 2015-17 period26 November 2015, Published under Cement NewsMohd Yusri Md Yusuf, managing director of Cement Industries of Malaysia Berhad (CIMA), has been elected chairman of the Cement & Concrete Association of Malaysia (C&CA) for the period 2015-17 at the industry body's annual general meeting, held on 29 October 2015. During the meeting, Philip Ting, CEO of Hong Leong Asia/Tasek Corp, was elected as deputy chairman of the C&CA for the same timeframe. Michael Lim, CFO of Lafarge Malaysia, has been appointed Honorary Secretary of the C&CA and Jos... |
JSW and JK Lakshmi reportedly among shortlist for Reliance cement assets26 November 2015, Published under Cement NewsJSW Cement Ltd and JK Lakshmi Cement Ltd are among seven bidders shortlisted for Reliance Infrastructure Ltd’s 5.5Mta cement assets, an official directly involved in the deal has disclosed to local press. On 5 November Reliance said it had shortlisted seven potential buyers who submitted preliminary expressions of interest to buy its cement business. JSW Cement, JK Lakshmi Cement and a few private equity firms are among the seven shortlisted bidders, the official cited above said... |
LafargeHolcim reports 9M15 results and outlines 2018 targets25 November 2015, Published under Cement NewsLafargeHolcim today released its first set of results since the closing of its merger, with nine-month performance impacted by merger and restructuring costs, adverse foreign exchange, an economic slowdown in China and Brazil as well as softness in France and Switzerland. Good performances were seen in the US, UK and most countries in Asia-Pacific and Latin America. The group also announced medium-term targets ahead of the Capital Markets Day (CMD) next week. Consolidated net sales in the n... |
New executive VP at Martin Marietta25 November 2015, Published under Cement NewsMartin Marietta Materials Inc announced that its Board of Directors has elected Roselyn R Bar, Senior Vice President, General Counsel and Corporate Secretary, an Executive Vice President of the company. Ms Bar joined the company in 1994 as assistant general counsel and assistant corporate secretary. She was promoted to corporate secretary in 1997 and associate general counsel in 1998. She became deputy general counsel in 2000 and was named vice president and general counsel in 2001. Prior t... |
ASEC Cement closes sale to Misr Cement Qena24 November 2015, Published under Cement NewsASEC Cement, a business unit of Qalaa Holdings, on Sunday announced it reached financial close on the sale of its holdings in subsidiaries ASEC Minya Cement and ASEC Ready Mix Co to Misr Cement Qena for total consideration of around EGP1bn (US$127m). “We are pleased to announce the sale process closed today, putting in place another cornerstone in our strategy to deleverage at both the holding and platform company levels,” said Qalaa Holdings chairman and founder, Ahmed Heikal. “Both ASE... |
India: Shree Cement plans eastern expansion24 November 2015, Published under Cement NewsShree Cement Ltd is setting its sights on the eastern Indian market by establishing a grinding units in the states of Odisha and West Bengal, according to local press reports. The company is reportedly in the process of identifying land for the two plants, each with a capacity of 2Mta. "We have already started despatches in West Bengal and Odisha in a small way. We would like to capture at least three to five per cent market share in these two state over the next six months," said S... |
Colombia: Argos 3Q15 profits jump 63% YoY23 November 2015, Published under Cement NewsCementos Argos has announced a 63 per cent hike in profits for 3Q15. Revenues are up 35 per cent while EBITDA saw a 41 per cent advance. Dispatches were up to a record 3.8Mt, a 15 per cent rise. For the nine-month period ended September, total cement sales reach 10.7Mt, reflecting an increase of 14 per cent when compared with 9M14. Argos concrete sales, which were particularly successful in the US and Colombia, advanced seven per cent to 9Mm3 in the quarter and five per cent in the first nin... |