Cement News tagged under: corporate
Holcim says Eurocement proposal 'too late' for consideration at meeting17 April 2015, Published under Cement NewsHolcim said a proposal by a major shareholder to have a seat on the LafargeHolcim board had come too late to be included in the agenda of a shareholder meeting next month. Lafarge and Holcim announced the names of the candidates for the board of the new group earlier this week, in a list comprising seven nominees from Holcim and seven from Lafarge. On Wednesday, Eurocement notified Holcim that, as the Swiss major’s second largest shareholder, it was nominating Galchev to join the board... |
Holcim and Lafarge propose final US asset disposals17 April 2015, Published under Cement NewsLafarge and Holcim announce further details on the package of assets they propose to divest in the United States, as part of their planned merger to create LafargeHolcim. The divestments include: • Lafarge's 1.1Mta Davenport cement plant (Iowa) and seven terminals along the Mississippi River to be sold to Summit Materials for a total consideration of US$450m in cash plus Summit’s Bettendorf, Iowa cement terminal • three Holcim terminals in Michigan and Illinois • Holcim's 0.6Mta Skyway... |
Saudi Cement net profit up 6%17 April 2015, Published under Cement NewsSaudi Cement has reported a 5.9 per cent increase in first-quarter net profit on Tuesday as higher exports boosted its earnings. Saudi Arabia's largest cement company by market value said in a bourse filing its net profit for the three months to 31 March was SAR303m (US$80.8m), compared to SAR286m in the corresponding period of 2014. It attributed its net profit rise to increased export sales and higher profit from associated companies. |
Eurocement seeks Galchev Board seat at LafargeHolcim16 April 2015, Published under Cement NewsEurocement Holding AG, the second-biggest shareholder in Holcim Ltd, said Wednesday it is nominating its owner, Filaret Galchev, for a position on the Board of the company that would be created by the planned tie-up between Holcim and Lafarge. The proposed nomination of Galchev in an emailed statement may signal that Eurocement, which holds a 10.8 per cent stake in Holcim, is willing to support the merger with Lafarge at next month's shareholder vote. The firm, however, gave no indication... |
Spain: Cementos Portland reports EUR29.5m loss16 April 2015, Published under Cement NewsFCC-owned Cementos Portland closed the first quarter of 2015 with a EUR29.5m loss, representing a 21.2 per cent higher figure when compared with 1Q14. The cement company attributes the fall to lower CO2 sales and new accounting rules relating to annual maintenance costs. Taking into account these effects, results improve by EUR7m. Revenues increased 9.4 per cent to EUR121.8m as the company maintained stable cement sales of 1.6Mt. However, concrete deliveries were down 43 per cent to 66M... |
Hoang Phat Vissai Group acquires control of Song Lam 2 Cement16 April 2015, Published under Cement NewsHoang Phat Vissai Group has acquired Song Lam 2 Cement JSC in Vietnam's central province of Nghe An from state-owned PetroVietnamCement 12/9 JSC. The group will invest VND500bn to complete and speed up construction of the plant in order to operate it in the next quarter. By purchasing Song Lam 2 Cement Company, Vissai now owns nine clinker and cement production units across Vietnam. |
Oman Cement 1Q net profit up 3.7%16 April 2015, Published under Cement NewsOman Cement reported a 3.7 per cent rise in first-quarter net profit on Wednesday, beating analyst forecasts. The company made a net profit of OMR3.83m (US$9.95m) in three months to 31 March, up from OMR3.70m in the corresponding period of 2014. Three analysts polled by Reuters on average forecast the firm would make a net profit of OMR3.2m. Oman Cement’s first-quarter revenue rose 10.6 per cent to OMR15.94m. OCC's cement capacity will be increased from 2.6Mta to 3.8Mta, with the addition... |
Ha Tien 1 Cement targets US$17.07m pretax profit16 April 2015, Published under Cement NewsHa Tien 1 Cement JSC (HT1), the largest cement maker in Vietnam by market capitalisation, targets a pretax profit of VND367bn (US$17.07m) this year, down 7.32 per cent YoY. Its revenue is expected to rise 5.9 per cent YoY to VND7.16trn in 2015, HT1 said on its website. |
ACC quarterly volumes lower on weaker demand15 April 2015, Published under Cement NewsACC reported a decline in sales volumes for the January-March 2015 period due to weaker cement demand from the infrastructure and the general construction sectors, India’s second-largest cement producer said in a statement yesterday. The Holcim group company said its cement sales in the first three months of 2015 were down by 10.2 per cent to 5.82Mt versus 6.48Mt in the same period of last year. However, a mix of better realisation on cement sold, as a result of an increase in cement p... |
Fitch affirms Holcim at 'BBB'; Outlook Stable15 April 2015, Published under Cement NewsFitch Ratings has affirmed Holcim Ltd's (Holcim) Long-term and Short-term Issuer Default Ratings (IDR) at 'BBB' and 'F2', respectively. The Outlook is Stable. "The affirmation reflects Holcim's leading market positions as one of the world's largest cement producers and our expectation that its financial profile remains commensurate with its 'BBB' rating. We expect a recovery in global end-markets, particularly in developed markets, and the continued healthy, albeit slowing, growth in emer... |