Cement News tagged under: corporate
PPC receives 17 nominations for non-executive director positions15 December 2014, Published under Cement NewsPPC has received a total of 17 nominations for non-executive director positions on the reconstituted and expanded board by the 8 December 2014 closing date for nominations, Kevin Odendaal, PPC's international business development executive, confirmed with local press on Friday. "The company does not want to pre-empt the circular that will be sent to shareholders most probably this week. The names that will be put forward by the nominations committee will be contained in the notice of the A... |
Peru: Pacasmayo Piura to come online in July 201512 December 2014, Published under Cement NewsCementos Pacasmayo has invested US$190m in its new Piura plant, Peru, and civil works have been almost completed. “The new plant is a project that we have started more than two-and-a-half years ago. The works, which is built with latest-generation German technology, has a production capacity of 1.6Mta of cement and 1Mta of clinker,” said Humberto Nadal, CEO of Cementos Pacasmayo. The plant aims to be “the first plant in the country with zero emissions”, he added. The company currently... |
Three potential candidates for PPC chief executive role12 December 2014, Published under Cement NewsPPC is considering Darryll Castle as one of three candidates to become CEO of South Africa's biggest cement maker, a person familiar with the matter told Bloomberg. Castle, former chief executive of commodity trader Trafigura's mining division, was appointed as a non-executive director of PPC on 17 October. PPC is seeking a replacement for Ketso Gordhan, who resigned in September after his attempt to fire chief financial officer Tryphosa Ramano was blocked by fellow directors. A decision ... |
Ash Grove announces new Chanute plant manager11 December 2014, Published under Cement NewsAsh Grove Cement Company announced Alan C Finch as the new plant manager of its Chanute works in Kansas, USA, effective immediately. “We are pleased that Alan will assume the leadership role of our Chanute plant. This plant opened in 1908 and is the longest running plant in our fleet of eight plants in the United States,” said Mike Hrizuk, senior vice president of manufacturing. “We are eager to introduce Alan to the employees and community.” Finch has a 17-year career in the cement indust... |
ARM secures loan to finance expansion10 December 2014, Published under Cement NewsARM Cement has secured a KES4.5bn (US$50m) loan from CFC Stanbic Bank to finance its expansion plans. “The credit adds to our existing facilities and will be used in current and new projects,” said ARM’s chief executive Pradeep Paunrana told Business Daily in an interview on Tuesday. ARM Cement opened its new 1.2Mta clinker plant in Maweni, Tanga, in November 2014, involving an investment of US$150m. It expects to complete a grinding plant in the same location next year. ARM will als... |
Argos to not bid for Lafarge/Holcim Brazilian assets10 December 2014, Published under Cement NewsCementos Argos has decided not to not bid for the Brazilian assets that Lafarge and Holcim have put up for sale ahead of their planned merger. Colombia’s largest cement producer has informed the Superintendencia Financiera that it does not see such a purchase as being likely to generate the value its investments would expect. Argos had been in consultation with Itau Unibanco concerning a possible bid. |
St-Gobain to acquire controlling stake in Sika09 December 2014, Published under Cement NewsSt-Gobain is buying a controlling stake in constructive chemicals specialist Sika for EUR2.3bn. The group is also launching a competitive bidding process to dispose of the remaining portion of the its packing business (Verallia Europe). St-Gobain is is proposing the acquisition of a 16 per cent family stake in Sika, which controls 52 per cent of group voting rights, meaning St-Gobain will fully consolidate the acquisition. Analysts at JP Morgan believe that the acquisition of Sika – whi... |
CRH08 December 2014, Published under Cement NewsIn its autumn trading statement, CRH announced that turnover improved by three per cent in Europe and by five per cent in the Americas, or four per cent overall. EBITDA should be ahead by around 10 per cent on both sides of the Atlantic, having seen a 27 per cent rise during the first half (+61 per cent in Europe and broadly unchanged in the Americas). Depreciation and amortisation charges are expected to be around five per cent lower than in 2013 and the net interest charge is forecast to b... |
Vicat08 December 2014, Published under Cement NewsVicat's turnover for the first nine months of the year improved by 6.1 per cent to EUR1847m, which represents an underlying advance of 9.7 per cent. The gearing level was little changed at 51.7 per cent at the end of September compared with 51.3 per cent a year ago and lower than the 52.7 per cent seen at the end of June. Turnover in cement was 10.1 per cent higher at EUR1129m, which represented 53.6 per cent of the group total. Cement deliveries rose by 15.7 per cent to 15.82Mt. The aggrega... |
Cimpor08 December 2014, Published under Cement NewsCimpor's nine-month turnover declined by 1.6 per cent to EUR1952.2m and EBITDA was off by 4.2 per cent to EUR461.1m as the Brazilian, Argentine and South African currencies declined by 10, 36 and 14 per cent, respectively. South America generated 69.1 per cent of EBITDA in the nine months compared with 79.5 per cent a year earlier. The trading profit (EBIT) came down by 2.6 per cent to EUR321.5m and the net financial charges declined by 1.2 per cent to EUR287.1m to give a pretax profit 12.7 ... |