Cement News tagged under: corporate
Dangote Cement26 July 2013, Published under Cement NewsDangote subsidiary Sephaku Cement has confirmed that its Delmas cement milling plant, which is currently under construction, will be completed in 4Q13 with production due to begin in January 2014. The 1.4Mta plant located in Mpumalanga is part of a ZAR3.2bn (US$322m) investment, which also includes a new clinker and cement works in Aganang in North West Province. The Aganang plant is due to start production in 2Q14 with the capacity to produce 1.9Mta of clinker and 1.2Mta of cement. Approxim... |
Lafarge trims market growth outlook, debt reduction goal on track26 July 2013, Published under Cement NewsLafarge reported a marked rise in 2Q net profit although consolidated sales declined. The company has now trimmed its forecast for cement market growth this year but confirmed its goal to reduce debt to below EUR10bn this year. EBITDA fell eight per cent to EUR922m and current operating income declined 11 per cent to EUR667m. Net profit in the second quarter came in at EUR201m compared to EUR39m in the same period last year when earnings were hit by exceptional items. Consolidated sal... |
UltraTech Cement26 July 2013, Published under Cement NewsUltraTech Cement is going ahead with its plans for a US$415m greenfield cement plant in Tamil Nadu, India’s southernmost state. The plant will have a cement capacity of 5.5Mta and a clinker capacity of 4.5Mta as well as a 75MW captive power plant and a 15MW waste heat recovery facility. According to Business Line India, the factory will have two production lines of 2.25Mta each. The total area of the project is about 263ha with the plant itself covering around 86ha. The company has also r... |
PPC26 July 2013, Published under Cement NewsKetso Gordhan, CEO of PPC Ltd, has spoken out on behalf of the cement industry, calling on the South African government to create an infrastructure negotiation body to help kick start infrastructure development in the country. Speaking at a finance event in Sandton, Gordhan was adamant that negotiations between the national government and the private sector would substantially increase the number of infrastructure developments completed. “It is clear that infrastructure bottlenecks by bo... |
Cemex expects best volume growth from USA26 July 2013, Published under Cement NewsCemex reported a slight decline in turnover for the first half of 2013, with EBITDA also down marginally but the trading profit improved by double digits. While volumes were down in the first six months, the group sees full year sales edging ahead with the USA expected to show the best advance. Cemex' first half turnover eased by 0.7 per cent to US$7322.1m and EBITDA came off by 1.7 per cent to US$1251.2m, but the trading profit improved 13.8 per cent to US$690.2m. Net interest payment... |
Cementos Portland Valderrivas reduces 1H losses, Spain26 July 2013, Published under Cement NewsSpain-based Cementos Portland Valderrivas (CPV) reduced losses by 98.9 per cent in 1H13, to EUR0.6m, compared with losses of EUR48.6m in the first half of the year before. CPV's asset swap with CRH earlier this year also provided capital gains of EUR104.8m. According to José Luis Sáenz de Miera, Chairman and CEO of Cementos Portland Valderrivas, results for the first half reflect "efforts last year to reduce costs in Spain, where demand continues to shrink, and to improve efficiency in ope... |
Hai Van Cement to issue shares to finance acquisition, Vietnam26 July 2013, Published under Cement NewsHai Van Cement JSC is to issue 21.46m shares in a move acquire Ang Son II Co the from Thang Loi Group Co. The volume will be sold to existing shareholders at VND10,000/shares at a 116-at-100 ratio, company said in a statement sent to the bourse. The proceeds, estimated at VND214.6bn (US$10.12m). Net profit jumps Hai Van Cement recently reported that it posted a net profit of VND10bn in the second quarter of 2013, up 279 per cent from a year ago. Revenues reached VND223.5bn in the th... |
Lafarge hit by winter weather and lack of carbon credit sales26 July 2013, Published under Cement NewsLafarge's first-half turnover eased by 4.8 per cent to EUR7248m (US$9628.3m) and the EBITDA declined by 14 per cent to EUR1302m, while the trading profit fell by 21.8 per cent to EUR791m. The gain from the sale of emission permits in the period was negligible compared with EUR46m a year ago. The net attributable profit amounted to EUR84m, compared with a EUR21m loss a year earlier. Net debt at the end of June was 5.3 per cent lower at EUR11,881m and the gearing level declined from the 77.4 p... |
Holcim streamlines Indian operations25 July 2013, Published under Cement NewsHolcim is to increase its shareholding in Ambuja Cements as part of the Swiss major's strategy to restructure and streamline its operations in India. Through intragroup restructuring, Holcim will increase its shareholding in Ambuja Cements to 61.39 per cent and Ambuja in turn will acquire Holcim’s 50.01 per cent stake in ACC Ltd. Both Ambuja and ACC will continue to operate as separate entities with their own brands and go-to-market strategies. Holcim said the restructuring “will allow for... |
Cemex Latin American Holdings recovers in 2Q25 July 2013, Published under Cement NewsCemex Latin American Holdings' first-half turnover improved by 2.8 per cent to US$814m and the EBITDA rose by 12.2 per cent to US$306.4m. The increase at the trading level was a somewhat more modest 7.3 per cent to US$260.3m. After a net interest charge of US$58.8m, the pre-tax profit emerged at US$193.4m. Net debt at the end of June stood at US$1411m, giving a gearing level of 103.9 per cent. Cement shipments in the period was 1.7 per cent lower at 3.62Mt, while aggregates deliveries wer... |