Cement News tagged under: corporate
India: Orient Cement reports on 'challenging' second quarter21 October 2015, Published under Cement NewsOrient Cement reported a 35.4 per cent YoY decline in 2QFY16 net profit to US$4.32m due to lower income and higher expenses and finance costs. Net sales for the three months to the end of September 2015 fell to US$54.7m in the quarter compared to US$59.2m in the same period of the previous years. The company's total expenditure rose to US$51m from US$49m in the same period of 2014. Deepak Khetrapal, managing director and CEO of Orient Cement said: "The quarter ended September 30 has... |
Maple Leaf Cement 1QFY15-16 profit rises by 55%21 October 2015, Published under Cement NewsPakistan-based Maple Leaf Cement net profit surged 55 per cent to PKR846.729m (US$8.1m) in the quarter ended 30 September 2015 versus PKR545.319m a year earlier, the company said on Monday. Revenue increased by 11.5 per cent to PKR4.965bn for the period under review versus PKR4.453bn in 1QFY14-15. Earnings per share stood at PKR1.60, up from PKR1.03 in the same period of last year. Maple Leaf Cement operates a 3.37Mta integrated plant in Daudkhel, Punjab province. |
UltraTech Cement second-quarter sales ahead20 October 2015, Published under Cement NewsAditya Birla group company UltraTech Cement reported higher revenue and volume growth for the second quarter of FY16 as well as a better operational performance during the period. For the three months to the end of September 2015, standalone net sales edged ahead by 4.2 per cent to INR5621 crores compared to INR5379 crores a year earlier. Profit before interest, depreciation and tax rose 8.6 per cent to INR1033 crores. However, profit after tax fell 3.9 per cent to INR394 crore largely... |
Cemex fails to annul sale of 14% shares in Akmenes20 October 2015, Published under Cement NewsCemex has failed to obtain a court order invalidating deals on the sale of a stake in Lithuania’s sole cement producer, Akmenes Cementas, through which Lithuanian three families were to take over control of the company. According to Baltic Business Daily, the Lithuanian Court of Appeals on 8 October turned down an appeal filed by Dutch-registered Rugby Holding, a subsidiary of Cemex, and refused to declare an agreement on the sale of a 13.68 per cent stake in Akmenes null and void and apply... |
Two China Shanshui Cement shareholders make deposit for proposed acquisition19 October 2015, Published under Cement NewsTwo shareholders of China Shanshui Cement Group Ltd have made a deposit for their proposed acquisition, Bloomberg reports. China National Building Material Co. and Taiwan’s Asia Cement Corp, which combined hold 37.6 per cent in Shanshui, each put in US$700m at Hong Kong’s Securities and Futures Commission on 11 August as cash confirmation for the general offer, Doris Wu, chief financial officer of Asia Cement told Bloomberg. The two companies reiterated on 9 October that they’re still consi... |
USA: Lehigh Hanson announces new president & CEO19 October 2015, Published under Cement NewsLehigh Hanson Inc, part of HeidelbergCement, announced Friday that Jon Morrish will succeed Daniel M Harrington as the company’s President and Chief Executive Officer. Mr Harrington will retire after more than 20 years of service with the company and having held the position of President and CEO since 2010. "Under his leadership, Lehigh Hanson successfully managed through one of the worst economic downturns in recent history and capitalised on the market recovery in the last few years. Har... |
Umm Al Qura Cement Q3 losses widen 75%, Saudi Arabia19 October 2015, Published under Cement NewsUmm Al Qura Cement posted SAR1.7m (US$0.45m) in net loss for the third quarter of 2015, a rise of 75 per cent from SAR6.9m (US$1.8m) logged in the same period a year earlier. Net loss for the first nine months of 2015 amounted to SAR14.1m, compared with SAR29m in the corresponding period of 2014. |
Four Cemex USA cement plants awarded Energy Star certification19 October 2015, Published under Cement NewsCemex USA announced Thursday that four of its cement manufacturing plants have earned the US Environmental Protection Agency ENERGY STAR® certification in 2015. Cemex noted that recognition of its USA’s plants in Miami, FL, Clinchfield, GA, Fairborn, OH, and Victorville, CA, demonstrates that these facilities perform among the top 25 per cent of similar US facilities for energy conservation. 2015 marks the ninth consecutive year of certification for the Clinchfield plant, an achievement r... |
HeidelbergCement: new Managing Board members – new Group areas16 October 2015, Published under Cement NewsHeidelbergCement yesterday announced changes to its Managing Board and the reorganisation of the divisions in line with the long-term oriented succession planning and the proposed acquisition of Italcementi. Within this context, the Managing Board agreements of Daniel Gauthier and Andreas Kern, due to expire on 30 June 2016, will not be extended, HeidelbergCement said in a statement. At the same time, three new members have been appointed to the Managing Board and a new Managing Board fun... |
Saudi Cement third-quarter earnings down 10%16 October 2015, Published under Cement NewsSaudi Cement Co posted net earnings of SAR208m (US$55.5m) for the third quarter of 2015, down 10.34 per cent compared with SAR232m a year earlier. Net earnings for the nine-month period ended 30 September also decreased by 5.21 per cent YoY from SAR806m to SAR764m. The profit decline was due to weak sales, the cement producer said in a statement on Thursday. |