Cement News tagged under: corporate
China: Lafarge to buy out 45% interest in Lafarge Shui On Cement03 March 2015, Published under Cement NewsLafarge has signed an agreement to acquire the 45 per cent stake held by SOCAM Development Ltd in Lafarge Shui On Cement, for a consideration of HKD2553m (c€294m) subject to the completion of its merger project with Holcim. With a total cement production capacity of 32Mta in South West China in the provinces of Yunnan, Sichuan, Guizhou and Chongqing, Lafarge Shui On Cement would thus become a wholly-owned subsidiary of LafargeHolcim following completion of the merger project and this purcha... |
East African Portland Cement posts pretax loss03 March 2015, Published under Cement NewsEast African Portland Cement Co (EAPCC) posted a first-half loss after a maintenance shutdown of its packing and clinker units. The company reported a pretax loss of KES124m (US$1.36m) for the six months to end of December, against a profit of KES171m in the same period in 2013. The firm, which also operates in Uganda, said it hopes to regain its market share in the industry after completing a plant refurbishment in the second quarter of this financial year. "Despite the growing competiti... |
Semen Indonesia 2014 net profit rises 3.7% YoY03 March 2015, Published under Cement NewsPT Semen Indonesia Tbk, the country's leading cement producer, posted on Monday a 3.7 per cent rise in 2014 net profit from a year earlier. The company reported net profit of IDR5.57trn (US$429.62m) for the full-year ended December, up from IDR5.37trn a year earlier. (Source: Reuters) |
Rodolfo Montero new Holcim México CEO03 March 2015, Published under Cement NewsFrom 1 March, Rodolfo Montero becomes the new CEO of Holcim México, succeeding Eduardo Kretschmer, who will leave Holcim after 34 years. Mr Montero previously held the position of CEO of Holcim Ecuador, a post for which he was appointed for in 2010. He started work for Holcim in 1990 and has since fulfilled a variety of roles, including business manager for ready mix concrete in Costa Rica, CEO of Holcim Nicaragua and Cemento Panamá as well as commercial director of Holcim Sri Lanka. He ... |
Allied Cement issues profit warning, China03 March 2015, Published under Cement NewsChina-based Allied Cement said it expects to record a significant decline in net profit by about 40 per cent for the year ended 31 December 2014 as compared to the audited net profit of around HK$46.2m for the previous financial year. The decline is primarily attributed to the significant increase in finance cost incurred in connection with additional bank and other borrowings drawn by the group in the second half of the year to support business expansion, and the maturity of its investment... |
CMS earnings boosted by cement division, Malaysia02 March 2015, Published under Cement NewsCMS Bhd earnings rose by 26 per cent to MYR221.34m (US$61m) in the year ending 31 December 2014, from MYR175.07m from a year earlier, boosted by its cement division. Revenue increased by 18 per cent to MYR1.67bn from MYR1.42bn m a year earlier. Pretax profit increased by 16 per cent to MYR341.45m from MYR294.89m. The cement division recorded a pretax profit of MYR120.48m, up 25 per cent compared to MYR966.7m. Fourth quarter earnings slipped 32.7 per cent to MYR43.94m from mYR65.34 . P... |
Holcim to offer shareholders merger sweetener?02 March 2015, Published under Cement NewsHolcim is considering offering its shareholders a sweetener to win their approval for a planned merger with Lafarge, Reuters reported citing an article in a Swiss newspaper. Analysts have seen a potential divergence in earnings outlooks between the two companies as opening the possibility of a renegotiation of the terms of the deal, which foresees each Lafarge share being swapped for one Holcim share. Swiss weekly Sonntagszeitung reported, without citing a source that Holcim was looking a... |
GCC's fourth-quarter sales rise 18% YoY02 March 2015, Published under Cement NewsGCC (Grupo Cementos de Chihuahua) reported a sales increase of 18 per cent in the fourth quarter compared to the same period of 2013, totaling MXN2546.1m (U$$170m), reflecting an increase in both Mexico and the US across all the company's products. In the US, sales rose 17.6 per cent compared to the fourth quarter of 2013 and totaled MXN1735.6m. Cement sales volumes grew five per cent and concrete 20 per cent, driven by demand in Texas, South Dakota, Iowa, New Mexico, Arkansas and Oklahoma,... |
Ecuador: Holcim inaugurates modernised Guayaquil works01 March 2015, Published under Cement NewsHolcim recently opened Phase II of its Guayaquil, Ecuador, cement works modernisation. The second phase of the Guayaquil modernisation includes the addition of a new raw vertical mill, clay storage building and raw material storage. During the 28-month construction period, the company strived to maintain high industrial safety, promoting safe work sites through 49,000h of staff training. The modernisation also focussed on environmental management, investing a fifth of the project’s cons... |
Adelaide Brighton reports record net profit27 February 2015, Published under Cement NewsAdelaide Brighton reported record sales and net profit after tax of AUD1337.8m and AUD172.7m, respectively, for the year ended 31 December 2014. Revenue increased 8.9 per cent and net profit by 14.3 per cent YoY. Adjusting for a number of one-off items, underlying net profit after tax of AUD166.5m was 8.5 per cent higher than 2013. EBIT increased 11.1 per cent to a record AUD247.5m on an EBIT margin of 18.5 per cent. Earnings were aided by net significant items of AUD2.3m. Excluding the... |