Cement News tagged under: corporate
Italcementi05 August 2013, Published under Cement NewsItalcementi's first-half turnover declined by 6.2 per cent to EUR2156.6m and the running EBITDA was down by 10.6 per cent to EUR298.6m, with the reduction primarily reflecting exchange rate movements and the absence of any income from the sale of emission certificates. The trading profit dropped by 27.1 per cent to EUR77.4m, and after a 0.9 per cent reduction in the net interest charge to EUR51.8m and a swing into loss from associates, the pre-tax profit dropped by 61.2 per cent to EUR21.... |
Cimpor05 August 2013, Published under Cement NewsThe Cimpor subsidiary Cementos de Moçambique has increased its capacity by 0.22Mta as a result of renting a mill mear the Matola works. Cimpor is making up for the continued decline in Portuguese cement demand by supplying additional volumes to Brazil, Algeria, Togo and Paraguay. |
Votorantim05 August 2013, Published under Cement NewsVotorantim has reduced its stake in its Indian subsidiary by 0.27 per cent for the free float to be at least 25 per cent as its subsidiary Shree Digvijay Cement floats on the Bombay Stock Exchange. |
CRH05 August 2013, Published under Cement NewsCRH has spent EUR236m on acquisitions during the first half of the year in addition to the Uniland deal in February. In Europe this included the Dudman cement import business in Great Britain, all Cemex' operations in Northern Ireland (aggregates, ready-mixed concrete and concrete blocks), a pre-stressed concrete business in Belgium and a total of nine distribution centres in Belgium and The Netherlands. In the USA, CRH acquired aggregates reserves, a crushing plant and two asphalt plants... |
Buzzi Unicem hit by weaker markets05 August 2013, Published under Cement NewsBuzzi Unicem's first-half turnover declined by 5.7 per cent to EUR1273.7m and the EBITDA fell by 24.8 per cent to EUR150.7m as the Italian cement major was hit by weaker markets in Italy, Poland and Mexico. Excluding non-recurring items, the reduction would have been 21 per cent. The first half trading profit fell by 56.8 per cent to EUR37.8m and the interest charge was reduced by 31.9 per cent to EUR47.6m, with the pre-tax result swinging from a EUR22.6m profit to a loss of EUR8.3m. Afte... |
Fitch revises West China Cement outlook05 August 2013, Published under Cement NewsFitch Ratings has revised West China Cement Limited's (WCC) Outlook to Negative from Stable reflecting continued weak average selling prices (ASP) in the cement producer's core cement markets of Shaanxi and Xinjiang. If this trend persists, the company may face challenges in repaying its outstanding US$400m notes due in January 2016, cautions the ratings agency. Continued weak ASPs have compressed WCC's gross profit to CNY47/t (US$7.67) in 2012 from CNY76/t for 2011. The ASP was CNY238/t i... |
Ecuador seeks strategic partner for cement company05 August 2013, Published under Cement NewsThe Ecuadorian authorities announced their search for a strategic partner for a state-owned cement company, according to the Coordinating Ministry of Production, Employment and Competition. The new partner will be expected to take a majority stake in the company, bringing knowledge, technology and funding to the project, which will see the construction of a new clinker line. Output from the new line will be delivered to the two state-owned cement works in Chimborazo and Cañar. |
HeidelbergCement increases pre-tax profit by 52.1 per cent02 August 2013, Published under Cement NewsHeidelbergCement's first half turnover was virtually unchanged at €6560.4m (-0.3 per cent), while the EBITDA improved by 5.1 per cent to €953.1m as energy and raw material costs eased. The trading profit was up by 6.9 per cent to €540.4m and after a net interest charge 7.4 per cent lower at €259.3m and other financial items, the pre-tax profit rose by 52.1 per cent to €254.0m. Lower charges for tax and minorities led to a net attributable profit of €175m compared with a €27.3m loss a year ea... |
Titan's European profitability suffers02 August 2013, Published under Cement NewsTitan's first-half turnover improved by 4.4 per cent to €571.9m but the EBITDA fell by 17.8 per cent to €92.2m as European profitability continues to suffer. The trading profit fell by 36.6 per cent to €32m, but the net financial charge, that had dropped by 54.9 per cent to €20.5m a year ago, more than doubled to €44m. As a result, there was a pre-tax loss of €12.4m compared with a profit of €29.5m and the net attributable loss amounted to €21.8m. Capital investment recovered by 5.7 p... |
Holcim Indonesia first-half sales decline 1.3%02 August 2013, Published under Cement NewsPT Holcim Indonesia reported a decline in sales for the first six months of 2013, having registered a second consecutive quarterly fall. Volumes dropped by 1.3 per cent to 4Mt in the Jan-June 2013 period. "The company had foreseen the contraction after a similar dip in the first quarter, the first time after eight consecutive quarters of growth," Holcim president director Eamon Ginley told the Jakarta Post. First quarter sales fell 1.6 per cent to 2Mt. However, Mr Ginley expects the sl... |