Cement News tagged under: corporate
CRH sues for return of files seized in competition inquiry16 November 2015, Published under Cement NewsIrish building materials major CRH has gone to the High Court to seek the return of documents seized by the Competition and Consumer Protection Commission (CCPC) in a "dawn raid" in May, The proceedings relate to a raid carried out on CRH subsidiary Irish Cement earlier this year as part of a competition inquiry. CRH has now lodged court proceedings seeking a declaration that certain sections of the files seized by the CCPC were not related to the Irish Cement investigation. A compa... |
Fujairah Cement Industries net profits rise 45%16 November 2015, Published under Cement NewsFujairah Cement Industries (FCI) announced a 45 per cent increase in its net profits for the first nine months of 2015, compared to the same period last year. Profits reached AED24.7m (US$6.7m) in the first nine months this year, up from AED17.06m (US$4.64m) in the same period of 2014. The statements also showed a rise in the sales by about 1.5 per cent to AED454.27m, from AED447.4m in 2014. Cost of sales declined by 1.04 per cent to AED403m by the end of the above period, compared to AED... |
FLSmidth 3Q order intake increases 16%13 November 2015, Published under Cement NewsFLSmidth reported that its overall order intake increased 16 per cent to DKK5151m in the third quarter of 2015. Meanwhile the order backlog decreased 16 per cent to DKK16,666m. Revenue fell by seven to DKK4609m while EBITA was down by 27 per cent to DKK 358m. Net profit amounted to DKK -84m (3Q14: DKK 215m) The Danish equipment supplier highlighted that reported numbers in 3Q were impacted by strategic changes: Bulk material handling activities to be divested - reported as discontinued a... |
Northern Cement Co nine-month net profit drops, Jordan13 November 2015, Published under Cement NewsNorthern Cement Company posted a drop of 22.7 per cent in its nine-month profit, as it slipped to JOD10.9m (US$15.3m) this year, down from JOD14.1m ($19.8) last year. In 1H15, the Amman-listed company’s profits fell into 24.15 per cent decline, reaching JOD7.42m (US$10.4m). Northern Cement Co, located in Muwaqqar, 40km east of Amman, was established in 2007 and started supplying cement to the domestic market in September 2009. The 1Mta plant produces OPC, sulphate-resistant and pozzolanic ... |
Cementos Portland to refinance EUR817m debt, reports 9M15 results12 November 2015, Published under Cement NewsCementos Portland is currently analysing “various alternatives” to refinance EUR817m of debt, 59 per cent of its total liabilities, which expires in 2016. "The debt refinancing of the syndicated loan that matures in 2016 is ongoing and the company works in different scenarios with FCC in a coordinated way," said the cement maker on the occasion of the presentation of its quarterly results. Cementos Portland’s debt restructuring process runs in parallel with the plan of FCC to repay EUR45... |
Lafarge begins public offer for Heracles shares, Greece12 November 2015, Published under Cement NewsThe Greek Capital Market Commission has approved a Lafarge Cementos SAU information bulletin over a public offer to the shareholders of Heracles Cement SA, submitted on 30 July 2015. The public offer envisages the acquisition of all common nominal voting shares of Heracles at a price of 1.23 euros per share incash. The public offer period began yesterday and ends on 11 December 2015. Following completion of the public offer process, Lafarge will call for a general shareholders' meeting in ... |
Cemex recognised for environmental disclosure12 November 2015, Published under Cement NewsCemex announced that it was ranked second in the Latin American Climate Disclosure Leadership Index, a ranking compiled by CDP that recognises leading companies in the disclosure of data related to environmental and CO2 emissions performance. Cemex earned this honour for its sound sustainability practices and its comprehensive disclosure, which earned a score of 99 out of 100 for the transparency and completeness of information provided. This is the fourth consecutive year that Cemex was i... |
Buzzi boosted by strong US performance11 November 2015, Published under Cement NewsBuzzi Unicem's turnover for the first nine months improved by 5.2 per cent to EUR1998.1m while EBITDA rose by 16.4 per cent to EUR352.1m. The trading profit was ahead by 52 per cent to EUR206.9m and net financial charges rose by 65.2 per cent to EUR83.8m. T he contribution from associates increased by 38.0 per cent to EUR50m and the pre-tax profit was ahead by 46.9 per cent to EUR178.9m. The tax charge, however, declined by 11.8 per cent while the minorities charge fell by 68 per cent, le... |
Bestway Cement 1QFY16 turnover jumps 38%11 November 2015, Published under Cement NewsPakistan's largest cement producer, Bestway Cement Ltd, announced financial results for first quarter from July to September 2015. Turnover on a consolidated basis jumped by 38 per cent from PKR6.8bn to PKR9.4bn (US$89m). This was largely attributed to the acquisition of Pakcem Ltd, an increase in domestic demand and stable retention prices during the quarter. Gross margin of PKR3.7bn grew by more than 50 per cent over the same period last year. Profit before tax for the quarter amounte... |
Cementir: good Nordic & Malaysia results11 November 2015, Published under Cement NewsCementir's turnover for the first nine months of 2015 edged ahead by 0.7 per cent to EUR719.7m as good Nordic and Malaysian performances offset the weakness experienced in Turkey, Egypt and China, while Italy was broadly stable. EBITDA, however, did decline by 1.9 per cent to EUR125.3m and the trading profit came down by 5.7 per cent to EUR63m. After a net financial income of EUR0.6m compared with a charge of EUR3.1m, the pre-tax profit was off by just 0.2 per cent to EUR63.6m. Net debt ... |