Cement News tagged under: corporate
Cemex Latam to participate in construction of 12,000 sustainable housing units08 April 2014, Published under Cement NewsCemex Latam Holdings (CLH) announced today it expects to participate in the construction of approximately 12,000 sustainable housing units in Latin America during 2014, the company said in a statement. CLH will use innovative construction systems and specialty concrete products that contribute to increase energy efficiency translating into reduced energy costs for the families living in these houses. Additionally, these specialty concrete products help to optimize the use of natural resourc... |
Lafarge and Holcim agree cement merger07 April 2014, Published under Cement NewsHolcim and Lafarge have confirmed today their intention to combine the two companies through a merger of equals, to create a new number one global cement major. Billed as a ‘merger of equals’, Lafarge shareholders will receive one Holcim share for every Lafarge share held. The agreement was unanimously approved by their representative board of directors and fully supported by the core shareholders of both companies, a joint statement released today said. The two companies said they hope to... |
Cemex to appeal Spanish fine07 April 2014, Published under Cement NewsCemex said Spanish tax authorities have fined its Spanish subsidiary EUR455m (US$620m) following an audit of the unit's tax returns for the years 2006 through 2009. Cemex Espana plans to appeal the fines, the company said Friday in a filing with the Mexican Stock Exchange. If the appeals are not resolved in the company's favor, this matter "could have a material adverse impact on our operating results, liquidity and financial situation," Cemex added. The Spanish unit of Cemex h... |
Holcim and Lafarge confirm talks on possible merger04 April 2014, Published under Cement NewsHolcim and Lafarge have confirmed that they are in advanced discussions regarding a "possible combination." The world's two leading cement majors said in separate releases that: "given the strong complementarity of their portfolio and the cultural proximity between the two companies, there is rationale in considering a potential merger that could deliver significant benefits to customers, employees and shareholders." "The discussions are based on principles consistent with a merger of equ... |
Asia Cement unit plans to buy Sichuan cement plant, China04 April 2014, Published under Cement NewsAsia Cement (China) said its non-wholly-owned subsidiary Sichuan Yadong Cement entered into a framework agreement with the existing shareholders of Sichuan Lanfeng Cement to acquire their entire equity interest in Sichuan Lanfeng and thus indirectly the entire equity interest in Sichuan Lanfeng's wholly owned subsidiary, Sichuan Lanfeng Building Materials. The target companies principally engage in the business of manufacture and sale of cement, concrete and related products in Sichuan. ... |
Texas Industries third-quarter net loss widens03 April 2014, Published under Cement NewsDuring the first nine months to the end of February, Texas Industries Inc saw turnover rise by 34.4 per cent to US$649.8m and the EBITDA advanced by 46 per cent to US$69m. After a more than doubling of the net interest charge from US$22.5m to US$52.2m, a US$2.8m merger charge and a 95.9 per cent jump in other net costs, the pre-tax loss rose by 47.8 per cent to US$41.7m and the net loss jumped by 98.9 per cent to US$39m. The net debt at the end of February was 2.8 per cent lower at US$611m... |
Bío-Bío shares up 17% after Chilean earthquake03 April 2014, Published under Cement NewsShares of Cementos Bío-Bío rose 16.73 per cent to CLP600 on the Santiago Stock Exchanges in antipication of an increase in cement demand due to the earthquake that struck northern Chile. A strong magnitude 8.2 earthquake struck the provinces Arica/Parinacota and Tarapacá on Tuesday, followed by a tsunami and several powerful aftershocks. |
Vicat02 April 2014, Published under Cement NewsTurnover eased by 0.3 per cent in 2013 to EUR2286m and the EBITDA came off by 2.4 per cent to EUR427m, while at unchanged parameters they would have risen by 2.9 per cent and 0.3 per cent, respectively. The trading profit emerged 3.7 per cent lower at EUR234m. The net financial charge rose by 31.2 per cent as the debt of the Indian subsidiaries Vicat Sagar and Gulbarga Power was no longer being capitalised. After an increase in the effective tax charge from 29.1 per cent to 32.4 per cent, ma... |
Buzzi Unicem02 April 2014, Published under Cement NewsOn a turnover 2.1 per cent lower at EUR2753.1m, Buzzi Unicem's EBITDA improved by 5.7 per cent to EUR481.2m. After writing down the assets in Italy by EUR57.7m and those in Ukraine by EUR39.9m, the trading profit (EBIT) showed a 24 per cent reduction to EUR149.8m. After a net interest charge 12.4 per cent lower at EUR110.5m, the pretax profit declined by 35.4 per cent to EUR50.3m. Because of a mismatch between where profits and losses were generated and tax payments, at the consolidated net ... |
Votorantim02 April 2014, Published under Cement NewsThe Votorantim Industrial group reported at turnover 14.8 per cent higher at BRL26,272 (EUR8433m) and an EBITDA 18.9 per cent ahead at BRL5,392m (EUR1731m). Of this, the cement division contributed 47.3 per cent compared with 39.5 per cent a year earlier while its share of the EBITDA rose from 62.7 per cent to 66.9 per cent. The pretax profit improved by 15.1 per cent to BRL443m (EUR142m), while the net attributable profit jumped from BRL 87m to BRL 238m. Capital expenditure across Votoranti... |