Cement News tagged under: corporate
Raysut posts flat quarterly profit, Oman12 May 2014, Published under Cement NewsRaysut Cement, Oman's largest cement producer by market value, reported a flat first-quarter profit on Monday. The company made a profit of OMR8.23m (US$21.4m) in the three months to 31 March, up from OMR8.17m in the year-earlier period, according to a statement to Muscat's bourse. |
Several companies show interest in Lafarge Pakistan12 May 2014, Published under Cement NewsIn response to a notice sent to the Karachi Stock Exchange by Lafarge SA to divest its entire holding (75.86 per cent) in Lafarge Pakistan Cement Limited (LPCL), local as well as international players have shown interest in acquiring the company. While the acquisition remains in the due diligence phase at the moment, seven companies/groups are currently believed to be vying for LPCL namely: Lucky Cement, DG Khan Cement, House of Habib, Vision Holdings, Pioneer Cement, Bestway Cement and K... |
Union Cement first quarter net profit jumps, UAE12 May 2014, Published under Cement NewsUnion Cement Co posted a AED18.2m (US$5m) profit for the first quarter of 2014, a 220 per cent increase compared with AED18.2m a year earlier. Revenues for the first quarter declined to AED138.5m, compared to AED 161.7m in year-earlier period. |
Buzzi Unicem 1Q14 cement sales rise by 15%09 May 2014, Published under Cement NewsBuzzi Unicem has announced that in the first quarter 2014, cement and ready-mix concrete demand increased in all geographical areas of group operations compared to the same period a year earlier. Domestic deliveries in Italy were still difficult, but some progress was made in sales of clinker. Cement sales by the group at 4.8Mt in 1Q14 were up 15.2 per cent from 1Q13. Volumes showed robust growth especially in Central Europe. Ready-mix concrete volumes had an even more marked progress and... |
1Q14 turnover declines for Italcementi, while EBITDA recovers09 May 2014, Published under Cement NewsItalcementi's first quarter turnover declined by 3.3 per cent to EUR932.9m while the running EBITDA staged a 10.2 per cent recovery to EUR95.5m. The trading loss was reduced by 74.6 per cent to EUR4.2m and net interest charges increased by 29.3 per cent to EUR33.2m. The pre-tax loss increased by 19.6 per cent to EUR44.2m, but a lower tax charge reduced the net attributable loss by 12.7 per cent to EUR68.3m. The net debt at the end of March was 1.4 per cent lower at EUR2,076.5m, to give a ge... |
Tanzania: Banco Products to sell stake in Lake Cement09 May 2014, Published under Cement NewsBaroda-based Banco Products India Ltd, along with its subsidiaries, has decided to sell its Tanzania-based cement unit Lake Cement Ltd for US$17.68m, according to a stock market disclosure. Banco Products acquired a 51 per cent equity stake in the 0.5Mta Lake Cement in July 2010. The name of the buyer has not been disclosed. While Banco Products will be directly selling 3721 equity shares for US$0.38m, two of Banco Products' subsidiaries, Lake Minerals (Mauritius) Ltd and Nederlandse Rad... |
Andres Evertz becomes new Schenck Process CEO08 May 2014, Published under Cement NewsAndres Evertz became Schenck Process CEO on 5 May 2014. He will lead the company in close coordination with the two other Managing Directors, Mike Petkovich and Wolfgang Kleinschmidt. Andreas Evertz has many years of experience in industries relevant to Schenck Process, most recently as an executive board member of the Swedish industrial group Sandvik and many years as CEO of Walter AG, a manufacturer of precision tools based in Tübingen, Germany. "I am looking forward to my new role at Sc... |
Taiwan Cement acquisition deal rejected08 May 2014, Published under Cement NewsShares of Taiwan Cement Corp (TCC) moved lower on Wednesday after Chia Hsin Cement Corp rejected a deal in which TCC would have acquired all of TCC International Holdings Ltd's outstanding shares, dealers said. TCC owns a majority stake in TCC International Holdings Ltd. Currently, Chia Hsin Cement holds a 15.8 per cent stake in Hong Kong-listed TCC International Holdings and the rejection of the acquisition deal could hamper TCC's efforts to fully bring the unit under its corporate umbrell... |
A trio of producers eye Lafarge Pakistan Cement08 May 2014, Published under Cement NewsA three-way struggle looms for Lafarge Pakistan (LPCL) as Kohat Cement is the latest party to announce its interest in the assets of the only major cement producer in Pakistan. Kohat Cement's interest follows that of DG Khan Cement and Bestway Cement who are both keen on the purchase. The divestment of LPCL follows 'the merger of equals' to establish LafargeHolcim, which will become a giant cement producer in more than 90 countries with a balanced exposure to both developed and high growth m... |
HeidelbergCement shows strong recovery in Europe08 May 2014, Published under Cement NewsHeidelbergCement's first quarter turnover improved by 5.7 per cent to EUR2749.8m and the EBITDA improved by 15.7 per cent to EUR228.8m and the trading profit jumped from EUR9.3m to EUR50.4m. The net interest charge increased by 3.1 per cent to EUR134.5m and the pre-tax loss was reduced by 36.6 per cent to EUR104.2m and the net attributable loss declined by 37.7 per cent to EUR146.5m. Capital investment in the period was increased by 79.1 per cent to EUR251.1m, while spending on acquisitio... |