Cement News tagged under: corporate
Eastern Province Cement names new chairman, deputy chairman17 February 2015, Published under Cement NewsSaudi-based producer Eastern Province Cement Co (EPC) approved at a meeting on Sunday the appointment of Turki bin Fahd as board chairman. The company also named Abdul Mohsen al-Ruwaishid as deputy board chairman. In a separate statement on Monday, the cement manufacturer announced a 21 per cent YoY increase in net profit to SAR374m (US$99.7m) last year attributed to higher ready-mix concrete sales. |
Vulcan Materials adds two new members to its board17 February 2015, Published under Cement NewsVulcan Materials has named Southern Co CEO Thomas A Fanning and former US Secretary of Labor Elaine L Chao to its board of directors. Fanning has been president, CEO and chairman of Southern Co (the parent of Birmingham's Alabama Power Co) since 2010. He also serves as chair of the Federal Reserve Bank of Atlanta and as chairman of the Electric Subsector Coordinating Council. Chao served as the US Secretary of Labor over the 2001-09 period. She has also served as CEO of United Way of Ameri... |
Dongwu raises US$6.70m in private placement17 February 2015, Published under Cement NewsDongwu Cement International Ltd has completed a private placement of 40m shares at a price of HKD1.30 ($0.16) per share for gross proceeds of HKD52m (US$6.70m). The company has agreed to issue up to 40 million shares at a price of HKD1.30 (US$0.16) per share to raise gross proceeds of HKD52m (US$6.70m) in a private placement. The placing shares represent approximately 7.81 per cent of the existing issued share capital of the company and 7.25 per cent of the issued share capital of the comp... |
KHD appoints new CEO16 February 2015, Published under Cement NewsThe Supervisory Board of KHD Humboldt Wedag International AG (KHD) has appointed Johan Cnossen as a member of the Management Board, effective 1 May 2015. Mr Cnossen will serve as KHD chief executive officer, following the resignation of incumbent CEO, Jouni Salo, due to "personal reasons" , the German equipment manufacturer said in a statement on Friday. Mr Cnossen is currently Vice President of Middle East Operations at Jacobs Inc. “As an experienced leader with a proven track record in th... |
Peru: Pacasmayo's net income up 24% YoY16 February 2015, Published under Cement NewsPeruvian producer Cementos Pacasmayo's net income increased 24 per cent in 2014 to PEN188.8m (US$61.3m) as a result of operating efficiencies, a reduction in administrative expenses and lower losses from currency movements. Operating margin increased 0.6 percentage points in 2014, compared to 2013, mainly explained by lower administrative expenses, and an extraordinary income. Consolidated EBITDA increased 4.7 per cent (PEN365.3m in 2014 versus PEN348.9m in 2013). Cement sales volum... |
Thatta Cement 1H net profit surges 51% YoY16 February 2015, Published under Cement NewsPakistan-based producer Thatta Cement posted a 51 per cent jump in net profit to PKR139m (US$1.2m) in the first half of the current Pakistan fiscal. Earnings per share improved by PKR1.34 compared to PKR0.89 in the same period of the previous year. However, second quarter profit declined 23 per cent to PKR48m compared to PKR62.5m in 2QFY13-14. Thatta Cement operates a 0.45Mta cement works situated about 115km from Karachi which serves the southern region of the country. |
New appointments at McInnis Cement, Canada16 February 2015, Published under Cement NewsMcInnis Cement has announced two new members of its management team for the Port-Daniel-Gascons cement plant currently under construction in the Gaspesie region of Canada. Alexandre Rail has been named plant manger plant manager of the new works, with the position effective immediately. "We are pleased with our recruitment of an experienced manager in the heavy industry who shares our values in the areas of health and safety, environment and quality. Alexandre has proven abilities to mobi... |
Ash Grove Cement names new VP and CFO12 February 2015, Published under Cement NewsDavid Meyer joins Ash Grove Cement Co as vice president and chief financial officer Ash Grove Cement Company announced David G Meyer is joining the company as its vice president and chief financial officer in the company’s headquarters in Overland Park, Kansas, USA. In his new role, Mr Meyer will direct accounting, treasury, internal audit, tax and information technology functions. “Dave brings 17 years of corporate finance leadership in strategic planning and capital marke... |
India Cements posts third-quarter net loss12 February 2015, Published under Cement NewsIndia Cements Ltd posted a net loss for third quarter, compared with a profit a year ago, dragged down by muted cement sales in the south. The Chennai-based firm posted a net loss of INR116.8m, compared with a net profit of INR4.2m a year ago. The company registered flat revenue growth at INR10.359bn crore for the three months to December as against INR10.365bn crore a year ago. CSK transfer Meanwhile, the board of India Cements yesterday approved a proposal to transfer the owner... |
Tajikistan ratifies agreement on new plants12 February 2015, Published under Cement NewsTajikistan's lower chamber of parliament on Wednesday ratified an investment agreement signed between Tajikistan and Chinese cement producer Huaxin for the construction of two greenfield plants. With a combined production capacity of 2.2Mta, the two plants will be built in Bobojon Ghafurov district and Danghara Free Economic Zone, said Lochin Fayzulloev, first deputy chairman of the State Committee on Investment and State-owned Property Management, at the parliamentary session. The agre... |