Cement News tagged under: corporate
China Resources Cement 1Q15 attributable profit drops 14% YoY28 April 2015, Published under Cement NewsChina Resources Cement said its profit attributable to owners for the three months ended 31 March 2015 dropped 14 per cent YoY to HK$660m (US$85m). Basic earnings per share were HK$0.101. Turnover was HK$6202m, a decline of 8.7 per cent from a year earlier. The consolidated gross margin for the reporting period was 25.9 per cent, representing a decrease of 5.9 percentage points from 31.8 per cent for the corresponding period last year. The decrease was mainly attributable to reduction in se... |
Holcim and Lafarge receive EC approval for CRH as buyer of divestment assets27 April 2015, Published under Cement NewsThe European Commission has cleared under the EU Merger Regulation the proposed acquisition of several assets of Holcim and Lafarge by Irish building materials manufacturer CRH. The Commission concluded that the transaction would raise no competition concerns, in particular because the merged entity will continue to face sufficiently strong competition after the merger and customers will have alternative suppliers in all markets concerned. The proposed transaction concerns assets worth seve... |
UltraTech full-year net profit down 6% YoY27 April 2015, Published under Cement NewsIndia’s largest cement manufacturer UltraTech Cement reported a six per cent drop in its net profit for the year ended 31 March 2015 to INR20.15bn versus INR21.44bn in the previous year. Net sales were 13 per cent at INR22,656 crore against INR20,078 crore in the previous year. The Aditya Birla group firm noted that although there was some relief from softening coal prices, the cost of limestone and other input materials continued to remain high, putting pressure on margins. “The company... |
New Caribbean Cement GM appointed27 April 2015, Published under Cement NewsCemex executive Alejandro Vares has been appointed general manager of Caribbean Cement Company Ltd (CCCL), replacing incumbent head Anthony Haynes, effective 4 May 2015. Vares will leave his position as Interim Country Manager of Cemex Costa Rica to join the Rockfort, Kingston-based cement producer, Caribbean Cement said in a press release. The appointment was approved by the Board of Directors on Thursday. Haynes will serve until the end of April, then transition to a new position ... |
CRH Group Finance Director to assume Global Group Transformation role effective January 201627 April 2015, Published under Cement NewsCRH plc announces that Maeve Carton, Group Finance Director, will lead a new strategic group function within CRH, commencing on 1 January 2016. As Group Transformation Director, Maeve will identify and implement the optimum financial and business model for the Group in the years ahead. In this new role, Maeve will drive improved shareholder returns by identifying further synergies, efficiencies and cash generation opportunities as CRH continues to grow and acquire new businesses. She wil... |
Cemex improves first-quarter trading profit24 April 2015, Published under Cement NewsCemex' first-quarter turnover declined by 5.3 per cent to US$3399.87m, but EBITDA did improve by 6.3 per cent to US$568.54m. Helped by a 12.7 per cent reduction in the depreciation and amortisation charge, the trading profit rose by 25.3 per cent to US$335.32m. The net interest charge declined by 15.3 per cent to US$338.08m, to give an 82 per cent drop in the pre-tax loss from US$167.88m to US$30.86m. The effective net debt was 3.4 per cent lower at US$15,769m, of which 86 per cent was in... |
Cemex Latin American Holdings held back by weaker cement sales in Colombia24 April 2015, Published under Cement NewsCemex Latin American Holdings' turnover declined by 16.3 per cent in first quarter of the year to US$353.8m and EBITDA fell by 20.3 per cent to US$112.4m. At the trading level there was a 23.6 per cent reduction to US$90.2m. After an interest charge 15.6 per cent lower at US$20.6m and other items, the pre-tax profit declined by 23.3 per cent to US$72.3m and the net attributable profit came off by 19.8 per cent to US$43.8m. Net debt at the end of March was 8.8 per cent lower than a year ea... |
Bestway acquires Lafarge Pakistan unit24 April 2015, Published under Cement NewsBestway Cement Ltd, a subsidiary of Bestway Group, has taken management control of Lafarge Cement's plant located near Kallar Kahar, Pakistan. To mark the acquisition, a ceremony was held at the plant on Wednesday, which was attended by Sir Anwar Pervez, the owner of Bestway Group and Amr Ali Reda, the CEO of Lafarge Pakistan, among others. In July 2014 Bestway successfully bid for a 75.86 per cent of Lafarge Pakistan’s shares for an enterprise value of US$329m. Bestway Cement... |
Jaiprakash Associates to seek shareholders' approval for divestments to UltraTech24 April 2015, Published under Cement NewsJaiprakash Associates Ltd will next month seek approval from its shareholders and creditors for the proposed sale of its cement units to UltraTech Cement. "Pursuant to an order dated March 25, 2015...the High Court of Judicature at Allahabad has directed meetings of the equity shareholders and creditors of Jaiprakash Associates to be convened on May 16...for considering the scheme of arrangement between Jaiprakash Associates and Ultratech Cement Ltd," Jaiprakash Associates said in a... |
Cementir full-year expectations in line with 201424 April 2015, Published under Cement NewsItalian cement major Cementir has confirmed the expectations for a 2015 in line with 2014, chairman and CEO, Francesco Caltagirone Jr, said at the end of the shareholders' meeting. The company may benefit from the drop in oil price and the appreciation of the dollar. An upgrade of the 2015 targets is possible, Mr Caltagirone noted. On its domestic market of Italy, the company head said that in the first two months of 2015, the market showed a stabilisation of cement consumption after seven... |