Cement News tagged under: corporate
CCI clears LH merger on condition23 February 2015, Published under Cement NewsThe Competition Commission of India has reportedly given the green light to the Lafarge and Holcim merger on condition it divests divests some of its units, including limestone reserves, to prevent a monopoly in eastern India, top sources said. After prima facie investigations by CCI revealed the combination will likely have an appreciable adverse effect on competition, especially in eastern India, the CCI launched ‘phase II investigations’. It put the merger proposal in public scrutiny u... |
Ukraine: Volyn Cement net loss widens23 February 2015, Published under Cement NewsVolyn Cement reported a net loss of UAH456.7m (US$16.3m) for 2014, compared to a loss of UAH46.9m during the year before. The Dyckerhoff subsidiary's assets came in at UAH1.14bn on 1 January 2015, long-term liabilities reached UAH1.17bn and current liabilities totalled UAH155.3m. Total receivables amounted to UAH 46.9m at the end of 2014, according to the report. Volyn Cement operates an integrated cement works in Zdolbuniv, Rivne region. |
LH: potential merger of Indian operations on the cards?20 February 2015, Published under Cement NewsLafarge and Holcim may bring together their local Indian interests as part of the merger process between the two global cement majors, according to local press. The Economic Times reported yesterday that Holcim and Lafarge plan to merge Holcim’s local companies ACC and Ambuja Cements together with Lafarge India, citing sources with direct knowledge of the matter. According to the report, the plan is still at an early stage and the cement producers have mandated investment bank Lazard to adv... |
Egypt: Qena Cement sees 15.3% rise in net profit20 February 2015, Published under Cement NewsQena Cement posted a 15.28 per cent rise in 2014 net profit, according a stock exchange filing on Thursday. Full-year profit came it at EGP312.91m (US$41m), up from EGP271.436m a year earlier. |
Eurozone construction output down 0.8% in December19 February 2015, Published under Cement NewsConstruction output in the eurozone contracted in December, led by falls in Germany and Spain, according to the Eurostat, the European Union's statistical office. Production in construction fell by 0.8 per cent month-on-month at the end of last year. Building production dropped by one per cent on the month while that of civil engineering rose by 1.7 per cent. Construction output in Germany came off by 2.9 per cent when compared to November's level and by another one per cent in Spai... |
CRH announces non-executive board appointment19 February 2015, Published under Cement NewsCRH announced the co-option to the Board, with effect from 1 March 2015, of Ms. Lucinda Riches as a non-executive Director. Ms Riches (53), a British citizen, is a non-executive director of UK Financial Investments Limited, which manages the UK Government’s investments in financial institutions. She is a non-executive director of Diverse Income Trust plc, Graphite Enterprise Trust plc, the British Standards Institution and a non-executive member of the Partnership Board of King & Wood Ma... |
Lafarge's final full year turnover and EBITDA in decline18 February 2015, Published under Cement NewsLafarge's turnover eased by 1.9 per cent to EUR12,843m in 2014 and the EBITDA came off 2.6 per cent to EUR2721m, having fallen by 9.4 per cent in 2013. Including share of associates, turnover eased by 0.2 per cent to EUR15,167m and the EBITDA by 0.4 per cent to EUR3091m. The trading profit was off by 2.9 per cent to EUR1,881m, but was 0.4 per cent ahead at EUR2084m including associates and carbon credits received recovered from EUR14m to EUR37m. Net financial charges declined by a furthe... |
Fauji Cement first half profit rises by a third18 February 2015, Published under Cement NewsPakistan producer Fauji Cement reported a 33 per cent rise in first-half profit of PKR1.67bn (US$16.4m) compared to PKR1.25bn a year earlier. Earnings surged 77 per cent QoQ to PKR1.06bn or an EPS of Rs0.80 during 2QFY14-15 because of the increase in margins and lower finance cost. Revenues increased nine per cent YoY to PKR8.99bn during the first half due to and increase in sales volumes to 1.24Mt and a higher proportion of domestic sales (82 per cent compared to 80 per cent a year earlie... |
Holcim Obourg reduces job losses18 February 2015, Published under Cement NewsThe management of Holcim’s Obourg plant in Belgium and the unions have signed an agreement regarding the restructuring of the works. The majority of the 38 staff that will be laid off will leave the company on early retirement packages and only four will be dismissed. This lowers the initial reduction in staff by 10 after lengthy negotiations took place. The plant will now be operated by around 200 people. |
Oman Cement 2014 profit declines on weaker sales, clinker imports17 February 2015, Published under Cement NewsOman Cement reported a 12.8 per cent decline in net profit on account of weaker sales, lower clinker production and higher volumes of imported clinker, the company said on Monday. Clinker imports were brought in by the company during the year due to one of its kilns being closed temporarily for capacity enhancement. Oman Cement sold 2.078Mt of cement through 2014, down 1.1 per cent compared to 2.1Mt in the same period of last year. In revenue terms, sales were down 2.05 per cent YoY to OM... |