Cement News tagged under: corporate
CEO Dr Scheifele: LH merger no threat to HeidelbergCement17 April 2014, Published under Cement NewsThe announced mega-merger of Lafarge and Holcim is expected to change the competitive landscape in the cement industry as a new global building materials giant, LafargeHolcim, is created. Where does this leave other cement majors such as HeidelbergCement? Dr Bernd Scheifele, CEO of HeidelbergCement, does not view the merger and the benefits of a much larger global footprint as a threat to his company. In a recent interview with Phil Roseberg, Senior Analyst at BernsteinResearch, Dr Scheif... |
Holcim Spain to cut staff by 12217 April 2014, Published under Cement NewsHolcim Spain and unions have reached a preliminary agreement to reduce the company’s staff of 650 by 18.7 per cent, according to the Spanish news service ABC. As a result 122 workers would be affected, rather than the 141 as stated in the initial ERE employment regulation record, reported earlier. Since 2008, Spain’s cement market has contracted considerably with cement producers making significant adjustments in terms of plant closures and staff lay-offs. Holcim employed over 2000 peop... |
Italcementi shareholders approve 2013 results17 April 2014, Published under Cement NewsAt Italcementi’s annual general meeting in Bergamo yesterday, the shareholders of Italcementi SpA approved the financial statements for 2013. The company closed the year with an operating profit of EUR159.3m (against a loss of EUR140.2m the year before) and revenue of EUR4235.4m. The AGM approved distribution of a dividend of EUR0.06/each ordinary share (EUR0.06 in FY12) and EUR0.06/each savings share (EUR0.06 : 2012), with the total corresponding amount to be withdrawn from the extraordina... |
Bosowa Maros plans IPO by 201616 April 2014, Published under Cement NewsThe Bosowa Group of Indonesia plans to take its cement unit, Semen Bosowa Maros, to an initial public offering by 2016. “We may go public within the next two years. The market’s been anticipating Semen Bosowa will go public, since many cement makers have entered the bourse,” Sadikin Aksa, managing director at Bosowa Corporindo, told the Jakarta Globe. While the company is focussing on the local market for the time being, it also plans to expand to Vietnam and Myanmar within five years, ... |
China Resources Cement sees strong growth in attributable profit15 April 2014, Published under Cement NewsChina Resources Cement (CRC) has said it expects profit attributable to shareholders for the quarter ending 31 March 2014 to be significantly higher compared to the corresponding period of 2013. The improvement is mainly attributed to higher average selling prices (ASP) of cement and clinker as well as reduced coal costs compared to 1Q13. The company’s quarterly results announcement will be issued at the end of April. Macquarie Research has slightly lifted its target price for the compa... |
Egypt: ACC to start IPO roadshow next week15 April 2014, Published under Cement NewsEgypt's Arabian Cement Company (ACC) plans to start an international roadshow next week to float between 22.5-30 per cent of the company, its chief executive, Jose Maria Magrina, told Reuters on Monday. "Our target is the 14th of May to start trading and I think 12th of May end of subscription but that may change ... It depends on the result of the roadshow," Mr Magrina said. |
Fitch affirms Siam City Cement’s long-term rating, outlook ‘Stable’15 April 2014, Published under Cement NewsFitch Ratings has affirmed Thailand-based Siam City Cement Public Co Ltd's (SCCC) National Long-Term Rating at 'A(tha)', its National Short-Term Rating at 'F1(tha)', its National Long-Term Rating on its senior unsecured debentures at 'A (tha)'. The outlook is Stable. Leading market position SCCC has maintained its position as Thailand's second-largest cement producer with a stable market share of 28 per cent in 2013, Fitch notes. Its strong brands in cement and ready-mixed concrete have u... |
Fitch affirms Holcim long-term rating14 April 2014, Published under Cement NewsFollowing the announcement by Holcim to merge with Lafarge SA, Fitch Ratings has affirmed the Swiss major's Long-term Issuer Default Ratings (IDR) at 'BBB'. The Outlook is Stable. The affirmation reflects the combined group's improved scale, diversification and market positions on completion of their announced merger and the synergy potentials between the two companies. “We forecast funds from operations (FFO) adjusted leverage in excess of 3.5x for the combined group in 2015, compared ... |
Anglo American completes the sale of Tarmac Building Products to Lafarge Tarmac11 April 2014, Published under Cement NewsAnglo American plc announced the completion of its sale of Tarmac Building Products Limited (TBP) to Lafarge Tarmac Holdings Ltd (Lafarge Tarmac), following receipt of regulatory approval. Anglo American announced on 14 November 2013 that it had reached an agreement to sell TBP to Lafarge Tarmac Holdings Limited, the 50:50 joint venture of Lafarge’s and Anglo American’s construction materials and services businesses in the United Kingdom. The terms of the transaction remain confidential. T... |
SCCC cautious on revenue growth and demand11 April 2014, Published under Cement NewsSiam City Cement (SCCC) is cautious on its outlook for the year and expects marginal or even flat revenue growth. Speaking to the Bangkok Post, director and chief executive Vorathep Rangchaikul, said the political conflicts of the last six months have hurt economic activity. Consequently, local cement consumption most likely will expand by just 2-3 per cent this year. SCCC has thus tried to cut expenses and improve efficiency while increasing exports to offset declines in the domestic mark... |