Cement News tagged under: corporate
Fitch Ratings: mixed picture for EMEA companies27 November 2012, Published under Cement NewsFitch Ratings says 3Q12 results reported by Fitch-rated Europe Middle East and Africa (EMEA) cement companies, Holcim Ltd ('BBB'/Stable), HeidelbergCement AG ('BB+'/Stable) and Lafarge SA ('BB+'/Stable) showed a number of positives, but confirmed that general market conditions are still challenging and the outlook remains uncertain. Europe disappoints The European markets represented a negative surprise, mainly due to a weakening in volume sales. This not only reflects some peripheral ... |
Maple Leaf Cement Factory on course for higher FY13 profit27 November 2012, Published under Cement NewsPakistan cement producer Maple Leaf Cement Factory, is on course to record its most highest profit in six years on the back of higher cement prices and lower interest rates to reduce loan payments. According to reports by Businessweek, earnings per share may rise to about PKR3 in the year ending June 2013, according to Waleed Tariq Saigol, a member of the company’s board of directors. EPS in the previous 12 months was PKR0.84. Maple Leaf plans to reduce its debt to PKR13bn (US$135m) in... |
Buzzi Unicem to lift stake in Dyckerhoff to 96.6%27 November 2012, Published under Cement NewsGerman cement producer Dyckerhoff AG said its parent company Buzzi Unicem SpA had agreed to buy additional ordinary and preferred shares in it, raising its total share capital in the firm by 3.6 per cent to 96.6 per cent. Dyckerhoff did not reveal the value of the transaction but specified that during the current year and including the most recent agreement Buzzi Unicem had bought shares in it for some EUR71.7m. As a shareholder of at least 95 per cent of Dyckerhoff, Buzzi Unicem is ent... |
Metso strengthens position in China27 November 2012, Published under Cement NewsMetso is strengthening its presence in the fast growing Chinese construction market through two strategic actions: establishing a joint venture with LiuGong Group Corp and acquiring 75 per cent ownership of Shaorui Heavy Industries Ltd. Joint venture with LiuGong Group Corp Metso and LiuGong Group Corp. Ltd (LiuGong) will form a 50:50 joint venture to develop the track-mounted crushing and screening business in China. The joint venture will combine Metso's know-how in track-mounted cru... |
Udaipur Cement Works appoints additional director, India27 November 2012, Published under Cement NewsUdaipur Cement Works has informed that Ganpat Singh has been appointed as an additional director on the board of directors of the company with effective from 1 November 2012. |
HeidelbergCement cancels S&P ratings agreement26 November 2012, Published under Cement NewsHeidelbergCement has cancelled its long-standing rating agreement with the rating agency Standard & Poor's (S&P). Its agreements with FitchRatings and Moody's will continue unchanged. HeidelbergCement's issuer/corporate rating is Ba1 stable by Moody's Investor Service and BB+ stable by Fitch Ratings. "Thanks to its outstanding reputation at the credit markets and the ratings from Moody’s and Fitch, HeidelbergCement retains a strong capability to successfully execute capital market tran... |
Holcim continues Colombian feasibility study26 November 2012, Published under Cement NewsHolcim approved the continuation of the feasibility study to build a new cement plant in Colombia. According to Miguel Angel Rubalcava, Holcim’s president in Colombia, the investment is around US$600m. "We are evaluating the departments of Bolivar and Antioquia, as possible locations for its site but we have not decided," he said. The new 2Mta works would generate about 1000 direct and indirect jobs and would benefit from the latest technology, minimal environmental impact and maximum ... |
Tarmac & Lafarge UK joint venture appoint key directors26 November 2012, Published under Cement NewsAnglo American plc and Lafarge announced the appointments of their 50-50 UK joint-venture’s chairman, CEO and CFO. Jamie Pike will be the non-executive chairman, Cyrille Ragoucy as CEO and Guy Young as CFO of the joint venture, which will combine Tarmac’s and Lafarge’s cement, aggregates, readymix concrete, asphalt and asphalt surfacing and maintenance services and waste services businesses in the UK. The appointments are subject to the completion of the joint-venture and it is expec... |
Tarmac & Lafarge UK joint venture appoint key directors26 November 2012, Published under Cement NewsAnglo American plc and Lafarge announced the appointments of their 50-50 UK joint-venture’s chairman, CEO and CFO. Jamie Pike will be the non-executive chairman, Cyrille Ragoucy as CEO and Guy Young as CFO of the joint venture, which will combine Tarmac’s and Lafarge’s cement, aggregates, readymix concrete, asphalt and asphalt surfacing and maintenance services and waste services businesses in the UK. The appointments are subject to the completion of the joint-venture and it is expec... |
Holcim makes centenary CHF5m donation23 November 2012, Published under Cement NewsFor 40 years, the Ernst Schmidheiny Foundation has been supporting special project weeks designed to provide young people in Switzerland with a grounding in economics and business management. As part of its centenary celebrations, building materials group Holcim is making a donation of CHF5, in recognition of the major commitment shown by the Foundation and its partners. A core element of the Ernst Schmidheiny Foundation are the so-called Economy Weeks, which, over a period spanning 40 ye... |