Cement News tagged under: corporate
US House of Representatives passes multi-year highway bill06 November 2015, Published under Cement NewsThe Portland Cement Association (PCA) has applauded the US House of Representatives for today’s passage of the Surface Transportation Reauthorization & Reform Act (STRRA), a multi-year federal highway bill. With passage of this bill Congress moves one step closer to completing work on vital infrastructure legislation that will help spur economic growth across the country. The bipartisan measure sets federal surface transportation policy for a six-year period, including critical reforms tha... |
TCL quarterly revenue boosted by higher volumes, clinker exports06 November 2015, Published under Cement NewsTrinidad Cement Ltd's (TCL) revenue rose by seven per cent in 3Q15 to TTD550.1m (US$86.3m) compared to TTD513.7m a year earlier, mainly to increased cement sales volume of 13 per cent in its domestic markets and higher clinker exports. During the second quarter the group was able to successfully refinance the restructured debt with a bridge loan and in so doing, benefitted from prepayment discounts which has been reflected in our Q2 results. In the third quarter, the group successfully... |
HeidelbergCement 3Q15 revenue rises 3% YoY05 November 2015, Published under Cement NewsHeidelbergCement reported a three per cent rise in group revenue to EUR3.6bn in the first three months of the ‘despite partly adverse market conditions,’ the company said in a statement today. The German cement major said that excluding consolidation and exchange rate effects, revenue decreased by 1.9 per cent. While the effects from changes in the consolidation scope to the amount of EUR23m were negligible, the weakening of the euro against numerous currencies amounting to EUR162m in total... |
Kumar Mangalam Birla appointed as Vice Chairman of Century Textiles05 November 2015, Published under Cement NewsKumar Mangalam Birla, chairman of the US$40bn Aditya Birla Group, has been appointed as Vice Chairman of Century Textiles and Industries. KM Birla is grandson of 94-year-old BK Birla, chairman of Century Textiles. In a filing to Bombay Stock Exchange, Century Textiles said that the decision had been taken at a meeting of the company’s board of directors. For the quarter that ended on 30 September 2015, Century Textiles posted a net loss of US$3.69m compared to a net profit of US$117,422 ... |
Reliance Infrastructure to sell its cement business, India05 November 2015, Published under Cement NewsReliance Infrastructure on Wednesday said it has decided to sell its cement manufacturing and road development businesses to focus on defence. "The 5.8Mta cement business and related assets will be disposed off through a formal process. The company has short-listed seven potential buyers from a total of 15 parties that submitted preliminary expressions of interest," according to the company. While Reliance has been talking of its plans of monetising assets, the board of the company approve... |
Karen Moses to join the Board of Boral Ltd05 November 2015, Published under Cement NewsDr Brian Clark, chairman elect of Boral, yesterday announced that Karen Moses has been appointed as a non-executive Director of Boral Limited, effective 1 March 2016. Ms Moses, who is currently Executive Director, Finance & Strategy, at Origin Energy, is expecting to retire from Origin after February 2016. She joined the Board of Origin Energy as an executive Director in 2009 and did not seek re-election to Origin’s Board at the AGM on 21 October 2015. With over 30 years’ experience in ... |
CHI: impact of industry M&A activity on recruitment process and candidate market05 November 2015, Published under Cement NewsChad Harrison International (CHI), the global permanent solution specialist and executive search consultancy provider for the building materials, cement, aggregate, and industrial minerals sectors, has launched the first of its Quarterly Market Insight reports, outlining the impact of recent industry merger and acquistion activity on the recruitment process and the candidate market. The report outlines recent movement on the corporate landscape, in particular citing the major tie-up... |
Vicat advances well in the USA but France, Italy and Africa weaken04 November 2015, Published under Cement NewsVicat's turnover for the first nine months of the year improved by 1.9 per cent to EUR1883m, which represents an underlying decline of 5.3 per cent. The gearing level was reduced from 46.8 per cent at the end of September last year to 43.7 per cent this time. Turnover in cement was 2.5 per cent higher at EUR1,157m, which represented 53.9 per cent of the group total. Cement deliveries declined by 4.4 per cent to 15.13Mt. The aggregates and concrete turnover improved by 1.8 per cent to EUR6... |
US: Summit Materials reports 3Q rise in volume and prices across all lines of business04 November 2015, Published under Cement NewsSummit Materials net revenue increased 22.4 per cent to US$426.3m in the third quarter of 2015, compared to US$348.1m in the same period a year earlier. The increase in net revenue was primarily attributable to an increase in volumes and price across all lines of business, led by the West and Central regions. Net revenue grew organically by US$4.7m, or 1.3 per cent, compared to the prior year quarter. Further adjusted EBITDA increased 55.2 per cent to US$120.4m, compared to US$77.6m ... |
JK Cements reports 58% fall in 2Q net profit04 November 2015, Published under Cement NewsIndia-based JK Cements reported a 58 per cent fall in consolidated second-quarter net profit to US$2.09m. However, its total standalone income rose by five per cent to US$133m for the three months ending 30 September 2015. The company's total expenses grew to US$122m from US$11.7m. The company has an installed grey cement capacity of 10.5Mta. |