Cement News tagged under: corporate
Future Board of Directors of LafargeHolcim nominated14 April 2015, Published under Cement NewsHolcim and Lafarge have nominated their candidates for the future Board of Directors of the combined merged company, subject to closing of the transaction. The designated Board of Directors will consist of 14 members due to be elected at the Holcim Extraordinary General Meeting on 8 May 2015. Candidates • Wolfgang Reitzle, Co-Chairman (currently Chairman of the BoD of Holcim) • Bruno Lafont, Co-Chairman (currently Chairman of the BoD and Chief Executive Officer of Lafarge) • Be... |
Bamburi upbeat on outlook14 April 2015, Published under Cement NewsKenya-based Bamburi Cement’s operating growth increased by 5.8 per cent last year to KES5.5bn (US$60m) and is upbeat on the outlook for both local and export sales. “We are very optimistic about market growth prospects in both our domestic and inland Africa export markets and are well positioned to benefit from them,” Bruno Pescheux, group managing director, told East African Business Week. “At the same time, a number of large infrastructure projects have been or are being launched in bo... |
Brazil: CSN considering merger with cement unit13 April 2015, Published under Cement NewsBrazilian steelmaker CSN is considering a merger with its subsidiary CSN Cimentos, Business News Americas reported. CSN, in a regulatory filing, said it would present the proposal to shareholders for approval. The merger would help CSN achieve synergies and economies of scale. It would result in "process optimisation and maximised results," with all business and administrative activities carried out via a "single organizational structure," CSN said. The net worth of CSN Cimentos is BRL1b... |
Ciments du Maroc 9.3% fall in profit13 April 2015, Published under Cement NewsCiments du Maroc closed 2014 with a 5.1 per cent fall in its turnover from MAD3.6bn (US$35m) to MAD3.4bn. The cement producer’s operating results experienced a 9.3 per cent drop to just over MAD1bn. The company attributes the decline to a slow building and public works sector. In addition, the eight per cent fall in housing starts contributed significantly to the limited growth of 0.8 per cent of the construction market. Looking ahead, Mario Bracci, Ciments du Maroc’s CEO said: “In 201... |
Citi Research raises target price for China Resources13 April 2015, Published under Cement NewsCiti Research raised its target price for China Resources Cement (CRC) to HK$5 from HK$4.5, and upgraded the stock to "neutral" from "sell". The research house lowered CRC's unit cost of cement and clinker by one per cent to HK$214/t in 2015, thus lifting 2015 GP/t to HK$96/t, taking into account the weak coal price. Citi also factored in a one per cent higher concrete price, revising up its unit GP to HK$97/m3 fromthe previous HK$93/m3. As a result, it adjusted 2015 earnings upward by ... |
Eric Olsen appointed as future CEO of LafargeHolcim09 April 2015, Published under Cement NewsLafarge and Holcim have approved the appointment of Eric Olsen as the future chief executive officer of LafargeHolcim, to be in office as from the closing of the merger project. Eric Olsen, presently Lafarge executive vice president, Operations, is appointed as future CEO of LafargeHolcim Mr Olsen (51), who has dual American and French nationalities, is presently Lafarge executive VP, Operations and has been a member of the Group’s Executive Committee since 2007. He has h... |
Fitch affirms SCCC long-term rating, Thailand09 April 2015, Published under Cement NewsFitch Ratings has affirmed Thailand-based Siam City Cement Public Company Limited's (SCCC) National Long-Term Rating at 'A(tha)', its National Short-Term Rating at 'F1(tha)', and the National Long-Term Rating on its senior unsecured debentures at 'A(tha)'. The Outlook is Stable. Key rating’s drivers Strong market position: SCCC's ratings are underpinned by its market position as Thailand's second-largest cement producer by market share, with a stable market share of 27 per cent. Fitc... |
VietinBank to finance Tuyen Quang plant09 April 2015, Published under Cement NewsVietnam Joint Stock Commercial Bank for Industry and Trade, or VietinBank (CTG) on has signed an agreement with Tan Quang Cement JSC to finance the latter’s cement plant in the northern province of Tuyen Quang. Under the agreement, Vietinbank will lend VND30bn (US$1.4m) to Tan Quang Cement JSC to develop its plant which has a clinker capacity of 2500tpd or 0.75Mta, and a cement capacity of 0.91Mta. Tan Quang Cement JSC is an affiliate of Vietnam National Coal-Mineral Industries Group (V... |
Saudi: Yanbu first-quarter net profit edges ahead08 April 2015, Published under Cement NewsYanbu Cement Company posted a net profit of SAR207m (US$55.2m) in the three months to 31 March 2015, up one per cent from SAR205m a year earlier, the Saudi-based company said in a bourse statement. Net profit increased 7.2 per cent against SAR193m for the previous quarter, its interim consolidated financial results showed. Gross profit for 1Q15 reached SAR224m versus SAR223m for the same quarter of the previous year, an increase of 0.45 per cent. Operational profit for the first quarter ... |
SITA UK rebrands as SUEZ environnement08 April 2015, Published under Cement NewsSITA UK, the UK-based recycling and waste management subsidiary of the global SUEZ environnement Group, will today join the rest of the group in uniting under a single name. SUEZ environnement operates in more than 70 countries around the world and previously had more than 40 different brands (for example, SITA, Degrémont, Lyonnaise des Eaux, AGBAR, Aqualogy, United Water, Ondeo Industrial Solutions, SAFEGE, etc). All of the Group's brands and trademarks are now being united under a single... |