Cement News tagged under: corporate
Reliance acquires control of West Bengal grinding unit23 May 2014, Published under Cement NewsReliance Cement has taken indirect control of a small grinding unit in West Bengal for an undisclosed price. The 0.5Mta facility is located at Durgapur, 180km from Kolkata. Reliance Cement, part of Anil Ambani’s Reliance’s Group, proposes to raise capacity of the Ma Chandi Durga Cement unit to 1Mta. For now, it is to be used as a contract manufacturing facility run by its founders, the Kedia family. Reliance has an irrevocable right to gain control of Ma Chandi Durga Cement whenever it ... |
Arabian Cement Co first-quarter update23 May 2014, Published under Cement NewsArabian Cement Company (ACC) posted a EGP116.4m (US$16.3m) net profit for the first quarter of 2014. ACC was the first major listing on Cairo's bourse since the 2011 political uprising, raising US$110m. |
GCC’s Pueblo plant starts TDF usage23 May 2014, Published under Cement NewsGCC’s Pueblo plant in Colorado has begun utilising tyre-derived fuel (TDF) in its manufacturing process. The plant team is targeting an eventual fuel replacement of 50 per cent of calciner fuel, which equates to 30 per cent of total fuel. The company expects to replace 40,000tpa of coal. GCC plans to further investigate available fuels and raw materials to further its sustainability program, reduce environmental impacts and make its operations more eco-efficient. |
Cemex announces senior level changes22 May 2014, Published under Cement NewsCemex has announced the following changes to its senior level organisation, effective immediately, following the sudden death of former CEO Lorenzo Zambrano early last week. Cemex’s corporate staff functions, will now be organized in six executive vice-presidencies, reporting to the CEO, and led by the following executives: Jose Antonio Gonzalez has been named as Cemex’s new chief financial officer, replacing former CFO Fernando Gonzalez, who has been promoted to the chief executive role.... |
AdBri forecasts flat demand and net profit22 May 2014, Published under Cement NewsAustralia-based producer, Adelaide Brighton, said it expects profit to be flat for this year and cement and clinker demand also to be similar to 2013. Chief executive, Martin Brydon, told shareholders at the company's annual general meeting in Adelaide that excluding certain items, both first half net profit and full year net profit in 2014 would be similar to those of 2013. "First half 2014 net profit after tax is expected to be similar to the same period in 2013, excluding a net restr... |
S&P affirms Buzzi rating, raises outlook22 May 2014, Published under Cement NewsBuzzi Unicem informs that today Standard & Poor’s affirmed the long-term corporate rating (BB+) and the short-term rating (B) on Buzzi Unicem, revising the outlook to stable from negative. |
Malaysia: YTL profit increases 40.5% YoY22 May 2014, Published under Cement NewsMalaysian construction conglomerate YTL Corp Bhd saw its profit increased 40.5 per cent to MYR1.93bn (US$601.7m) for the nine months ended 31 March 2014 compared to the same period of the previous year thanks to better performances from its cement, property development and investment and hotel divisions. Despite strong growth in its group profit, YTL’s revenue declined a marginal 1.9 per cent to MYR14.66n during the period under review from MYR14.95bn due to decreases in its construction a... |
Akmenes profit falls by a third, Lithuania22 May 2014, Published under Cement NewsAkmenes Cementas, Lithuania’s only cement manufacturer, last year saw its audited net profit fall by 36.3 per cent to LTL11.676m (EUR 3.38m), from LTL18.329m in 2012. Annual revenues decline by 0.4 per cent to LTL247.557m, from LTL248.43m in the previous year, the company said in its 2013 report submitted to the Center of Registers. Volume sales rose by 6.8 per cent to 1.066Mt from 998,000t in 2012. The domestic market accounted for 44 per cent of total sales, Russia 22 per cent, Bel... |
AfriSam launches Supplier Development Centre22 May 2014, Published under Cement NewsAfriSam recently successfully opened its Supplier Development Centre in support of the company’s Enterprise Development Programme which has been implemented as part of a transformation drive in the country, especially in areas where the company operates. The aim of the Supplier Development Programme is to identify black-owned Small, Medium and Micro Enterprises (SMMEs) close to the company’s operations and provide these entrepreneurs with the necessary support and development for them to gr... |
Cementos Molins posts 1Q14 net profit of EUR6.5m21 May 2014, Published under Cement NewsSpain-based Cementos Molins released its first-quarter 2014 results, showing a net consolidated profit of EUR6.5m, up 37 per cent when compared to 1Q13. The group’s domestic companies saw a loss of EUR7.4m although they ‘improved’ their YoY results by increasing clinker exports and implementing cost-cutting measures, helping to mitigate the effect of lower sales in Spain. Cementos Molins’ overseas subsidiaries posted a net profit of EUR14m on the back of increased sales by Corporación M... |