Cement News tagged under: corporate
New member of FLSmidth Group Executive Management10 January 2014, Published under Cement NewsFLSmidth announced that Eric Thomas Poupier has been appointed to a newly created position in Group Executive Management as Group Executive Vice President, Business Development and will take up his new position 15 January 2014. Eric Thomas Poupier, age 37, is a French citizen and has since 2011 been a Manager at Bain & Company in Stockholm managing projects for Nordic clients. From 2007 to 2011 Eric Poupier was a consultant for Bain & Company in Stockholm specialised in reorganisation, gro... |
Anhui Conch and Asia Cement sign strategic partnership deal08 January 2014, Published under Cement NewsAnhui Conch and Taiwan producer Asia Cement have signed a strategic partnership to explore overseas markets and share expertise in environmentally-friendly technologies. The two companies are yet to divulge the details of their planned co-operation. However, it is understood they will explore opportunities in sharing green technologies, management expertise, market and product expansion and cost control. They will also tap possibilities for Anhui Conch to enter the Taiwan market and joi... |
Yamama posts preliminary 4Q13, full-year results, Saudi Arabia08 January 2014, Published under Cement NewsYamama Cement posted its preliminary 4Q and FY13 results, with net profit up 2.3 per cent to SAR870m. The results were one per cent below estimates by NBK Capital but in line with a Bloomberg consensus of SAR867m, NBK Capital said in a descent report. "This implies a net profit for 4Q2013 of SAR178m, slightly below our forecast of SAR186m." According to NBK Capital, Yamama published a 4Q13 gross profit (post depreciation) of SAR165m, down 22.5 per cent YoY. Assuming quarterly depreciat... |
Credit Suisse acquires shares in China Shanshui08 January 2014, Published under Cement NewsCredit Suisse Group AG acquired 10.47m shares in China Shanshui Cement Group Ltd for a total of HK$34.93m on 31 December 2013, according to the Hong Kong Stock Exchange. Since the purchase, Credit Suisse holds 141.13m shares (a 5.01 per cent stake) in Shanshui Cement. The Shandong Province-based company is engaged in limestone mining and the manufacture of cement and cement clinker. |
CRH full-year development spend07 January 2014, Published under Cement NewsCRH announced a total of seven acquisitions and investment initiatives in the second half of 2013, taking full-year development activity to EUR0.69bn. The company invested EUR0.22bn in the six months to the end of December last year, including one transaction in Asia, three under its American Materials division and a further three in its Distribution segment. Commenting on the these developments, CRH’s new chief executive Albert Manifold said: “Development spend of almost EUR0.7bn in 2013... |
EC rejects request by Germany to review deal07 January 2014, Published under Cement NewsThe European Commission (EC) has rejected a request from Germany to refer the planned acquisition of Cemex West by Holcim to the German competition authority for assessment under national competition law. The EC concluded that the geographic scope of the affected cement markets is wider than national and that therefore the Commission cannot refer the assessment of the transaction to Germany. The commission has until 31 March 2014 to take a final decision. In the proposed transaction Holc... |
Yanbu Cement full-year net profit rises 14.3%07 January 2014, Published under Cement NewsYanbu Cement Co’s net profit rose 14.3 per cent YoY to SAR832m (US$219.4m) in 2013, the company announced in a bourse filing. Operating profit increased to SAR847m from SAR757m in 2012. The company attributed the rise to higher sales without giving exact figures. The Saudi-based producer reported earnings per share of SAR5.23, up from SAR4.57. |
Ha Tien 1 lists 120m new shares on HOSE07 January 2014, Published under Cement NewsHa Tien 1 Cement JSC has received approval from the Ho Chi Minh City Stock Exchange (HOSE) to float 120m new shares on the bourse. The shares, earlier sold to Vietnam Cement Industry Corporation (Vicem) to reduce debt, will be listed on 8 January and tradable starting 22 December 2014. The additional share listing will help the company raise its total listed volume to 318m shares. (Source: Vietnam News Brief Service). |
Saigol appointed chairman of Maple Leaf Cement06 January 2014, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCFL) has appointed Tariq Saeed Saigol as chairman of the company for a term of three years. Company secretary Muhammad Ashraf on Friday announced that MLCFL's board of directors confirmed the appointment, effective 1 January 2014. |
Dujiangyan Lafarge Cement stake to be acquired03 January 2014, Published under Cement NewsSichuan Shuangma Cement plans to issue 148m shares to Lafarge China Overseas Holding at CNY832m (US$137.4m) to acquire a 25 per cent of Dujiangyan Lafarge Cement. Lafarge China currently holds 48.14 per cent of Shuangma Cement. Net assets of Dujiangyan Lafarge Cement were appraised at CNY3.33bn by September end 2013, appreciating 20.62 per cent. |