Cement News tagged under: corporate
Holcim's full-year volumes down, net income rises on Leadership Journey initiatives26 February 2014, Published under Cement NewsHolcim reported saw volumes decline in its cement, aggregates and ready-mix concrete segments in 2013, but operating EBITDA margin and net income increased due to the implementation of the Holcim Leadership Journey. Full-year net sales were down 6.8 per cent to CHF19.72bn, but increased on a like-for-like basis by 0.2 per cent. The group reported that it was significantly harder to implement price increases in various markets than in the previous year. The Swiss franc exchange rate rose in... |
HeidelbergCement signs new credit facility26 February 2014, Published under Cement NewsHeidelbergCement has signed a new EUR3bn syndicated credit facility with a term of five years to refinance the existing credit facility which would have expired in December 2015. The revolving credit line was early refinanced due to favorable market conditions, the company said in a statement yesterday. HeidelbergCement was able to execute the new self-arranged facility with significantly improved terms and conditions. "There was massive demand from the banking sector to enter the new fac... |
Holcim to propose Wolfgang Reitzle to take over as chairman26 February 2014, Published under Cement NewsHolcim's board of directors will propose to the annual general meeting on 29 April 2014 the election of Wolfgang Reitzle as the company's new chairman, to succeed Rolf Soiron. Mr Soiron has been the chairman for the past 11 years and a member of the board of directors for 20 years. The board of directors of Holcim Ltd will also nominate Jürg Oleas for election as a new board member at the April AGM. Jürg Oleas (56) is the CEO of GEA Group AG, a Dusseldorf-based mechanical engineering comp... |
India Cements approves scheme of amalgamation26 February 2014, Published under Cement NewsIndia Cement has informed the Bombay Stock Exchange that its board of directors has approved a scheme of amalgamation of its subsidiaries Trinetra Cement (TCL) and Trishul Concrete Products Ltd (TCPL), effective 1 January 2014, subject to approval from the relevant authorities. |
CRH expects 2014 profit growth25 February 2014, Published under Cement NewsIrish building materials major CRH said 2013 represented a trough in its profits and expects growth in 2014 encouraged by improving trends in the USA and signs of stabilisation in Europe. Full-year turnover eased by an underlying 0.3 per cent in 2013 to EUR18,031m while the EBITDA declined by 5.6 per cent to EUR1,475m. The trading profit before charging EUR650m of impairments was down by 10.0 per cent to EUR750m, with European building products accounting for nearly two thirds of this ch... |
Argos: positive developments across the board25 February 2014, Published under Cement NewsArgos, closed 2013 with a strong rise in EBITDA on the back of positive contributions from all its regional divisions. Other highlights for the year were the inclusion of Argos on the Dow Jones Sustainability Index, successful issuance of preferred shares in Colombia and abroad, and new acquisitions to close a successful year for Argos. “2013 was a year that completely transformed this company. The successful issuance of preferred shares significantly helped us implement our expansion stra... |
Maple Leaf Cement first-half revenues rise25 February 2014, Published under Cement NewsMaple Leaf Cement announced profit after tax of PKR1.48bn (US$14m) in the first half of FY14, representing a 10 per cent YoY rise on the same period of the previous year. Revenues increased by eight per cent YoY to PKR8.84bn due to an increase in cement prices which rose by 11 per cent during the period. Cost of sales were also eight per cent higher and, consequently, the company’s gross margins stayed flat at 34 per cent in 1HFY14. |
Semen Indonesia net income rises 11% YoY25 February 2014, Published under Cement NewsNet income at Semen Indonesia rose 11 per cent in 2013 to IDR5.37trn (US$462m) from a year earlier as the company boosts sales through expansion and strengthens its market position. A 24.5 per cent increase in sales to IDR24.5trn was recorded by Indonesia's largest cement producer last year. Domestic shipments rose 3.2 per cent to 25.4Mt. The surge in sales helped boost market share to 44 per cent last year from 41 per cent in 2012. The company has recently expanded its Indarung plant in... |
Marketfield Asset Management raises Buzzi stake25 February 2014, Published under Cement NewsMarketfield Asset Management LLC has raised its stake in Buzzi Unicem to seven per cent from 5.3 per cent, as discretionary asset management, Italy's stock market regulator Consob said. The transaction was carried out on 10 February 2014. A total 6.64 per cent of the stake is held on behalf of Mainstay Marketfield Fund. Abstracted from an original article in Il Sole 24 Or. |
Fujairah Cement profit hit by weaker prices24 February 2014, Published under Cement NewsUAE-based producer Fujairah Cement recorded a AED12m (US$3.3m) loss last year as a weaker pricing environment affected revenue despite higher sales. In a filing posted on the Abu Dhabi Securities Exchange yesterday, the company said revenues were AED588m last year, compared to revenues of AED569m and a gross profit of AED35m the year before. “The market has not increased in our favour,” said Murthy Veasi, the company’s finance manager. “Prices have come down by nearly AED10 [per tonne] ... |