Cement News tagged under: corporate
Hong Leong Industries in corporate restructuring25 September 2013, Published under Cement NewsHong Leong Industries Bhd (HLI) is selling its 100 per cent stake in Hume Industries (Malaysia) Sdn Bhd for MYR48m (US$14.9m) and preference shares in Hume Cement Sdn Bhd for MYR300m (US$93m) to Narra Industries as part of a corporate restructuring exercise. The move of both companies, which each come under the Hong Leong Group, would see the disposals of the 300 million Hume Industries shares and entire 175,000,000 six-year two per cent non-cumulative irredeemable convertible preference s... |
Lafarge appoints new Russia CEO25 September 2013, Published under Cement NewsLafarge has appointed Andre Martin as its new chief executive of its Russian division, replacing Alex de Valukhoff. Mr Martin had previously had previously served as senior vice president for the group’s industrial segment in Paris since last year. "To come to Russia and serve as the CEO of Lafarge Russia, is an honoir I find humbling and motivating," Martin said in an emailed statement. "Together with the team of professionals we are committed to contributing to the building of better ... |
Cemex announces pricing of senior notes25 September 2013, Published under Cement NewsLeading Mexican cement major Cemex priced US$1.4bn in senior notes Wednesday. The debt sale comes after the Mexican government's issuance Monday of US$3.9bn in 10-year global bonds, of which around US$2.5bn were used to extend the average maturity of the government's foreign debt. Cemex said it priced US$1bn in notes due 2021 with fixed annual interest of 7.25 per cent, and US$400m in notes due 2018 that will pay a floating rate of 4.75 percentage points above three-month Libor. The compan... |
Kohat Cement full-year profit rises 58.55%, Pakistan23 September 2013, Published under Cement NewsNorthern Pakistan-cement based cement producer Kohat Cement Co reported a 58.55 per cent YoY rise in FY13 net profit. For the July 2012-June 2013 fiscal, the company reported a profit after tax of PKR2.632bn (US$25.55m) against PKR1.66bn during the year before. Net sales increased to PKR11.297bn from PKR9.316bn in FY12. It incurred selling and distribution expenses of PKR58.4m and administrative and general expenses of PKR86.423m compared to PKR46.242m and PKR66.714m, respectively in FY12.... |
Kohat Cement sees 59% rise in full-year profit, Pakistan20 September 2013, Published under Cement NewsPakistan-based Producer Kohat Cement reported a 59 per cent surge in net profit for FY12-13 mainly due to favourable cement and coal pricing trends as well as lower financial costs. For the 12 months ending 30 June 2013, the company posted a profit after tax of PKR2.64bn compared to PKR1.66bn in the previous fiscal. Kohat Cement CEO and All Pakistan Cement Manufacturers Association chairman, Aizaz Mansoor Shiekh, said improved cement prices both in domestic and to export markets, stabl... |
Executive management changes at Dyckerhoff, Germany20 September 2013, Published under Cement NewsFollowing the 100 per cent buy-out of all minority shareholders by Buzzi Unicem SpA and the delisting of shares from the Frankfurt Stock Exchange, Dyckerhoff’s Supervisory Board has now approved to initiate the transformation of the company’s legal form from the present corporation (Aktiengesellschaft, AG) to a future limited liability company (Gesellschaft mit beschränkter Haftung, GmbH). The new legal form will become effective towards the end of March 2014 and will also involve changes in... |
Ulrich Spiesshofer takes over as ABB’s new CEO20 September 2013, Published under Cement NewsUlrich Spiesshofer has succeeded Joe Hogan as chief executive officer of ABB, a leading power and automation technology group, following the three-month orderly transition period announced earlier this year. Hogan will continue as advisor to the Board until the end of March 2014. In a welcoming statement, Hubertus von Grünberg, Chairman of ABB’s Board of Directors, said: "Ulrich Spiesshofer has an outstanding track record forming and developing high performing teams and has demonstrated e... |
CRH announces US management changes19 September 2013, Published under Cement NewsCRH plc announces that Doug Black, chief operating officer of Oldcastle, Inc (the holding company for CRH's interests in the Americas) is leaving the group to pursue other interests. As a result of this, Randy Lake, chief executive of Oldcastle Materials, Keith Haas, chief executive of Oldcastle Building Products, Bob Feury, chief executive of Oldcastle Distribution and Joe Myers, president of Oldcastle Building Solutions, will report directly to Mark Towe, chief executive of Oldcastle. C... |
Lucky Cement full-year profit rises 47%18 September 2013, Published under Cement NewsPakistan-based producer Lucky Cement reported a 47 per cent increase in full-year profit and is optimistic on the outlook for domestic consumption but cautions that challenges remain. Net income rose to a record PKR10bn (US$95m) in the 12 months ended 30 June from PKR6.78bn a year earlier. Gross sales rose 63 per cent to PKR63.9bn. The rise in profit is being attributed to an 11 per cent increase in cement prices which climbed to PKR458/50kg bag. “The consumption of cement in the co... |
Gansu Qilianshan Cement expands into Gansu province, China17 September 2013, Published under Cement NewsGansu Qilianshan Cement Group Co Ltd plans to invest CNY265.59m (US$43.4m) to acquire a 100 per cent in Longran Runji Cement Co to expand into the Gansu province market. Runji Cement currently operates a 2500tpd dry-process line. |