Cement News tagged: Corporate
Egypt: Arabian Cement Co reports rise in 9M15 volumes but lower prices
Arabian Cement Co (ACC) of Egypt reported a four per cent decline in revenues to EGP1711m (US$219m) for the first nine months of 2015, due to a 12 per cent decline in prices which was partially offset by a nine per cent increase in volumes. Cost per tonne stood at EGP329/t less than the EGP352/t recorded in 9M14. The cost reduction is due to less imported clinker and enhanced energy efficie...
Cementos Argos names new CEO
The Board of Directors of Cementos Argos has unanimously appointed Juan Esteban Calle as the new CEO of the company, effective 1 April 2016, replacing Jorge Mario Velasquez, who was recently elected as the new CEO of Grupo Argos. Juan Esteban Calle, new CEO of Cementos Argos, effective April 2016 The designation of Juan Esteban Calle was made by the Board of Directors of Cement...
LafargeHolcim CMD: confident message from management
LafargeHolcim hosted a Capital Markets Day (CMD) in London yesterday where management confirmed the group’s CHF8bn 2018 EBITDA target, its capital allocation strategy and FCF focus. During the event, management – led by new CEO Eric Olsen – presented its strategic objectives and approach for unleashing potential to extract maximum value from its portfolio. Top priority for the group is g...
Cemex: senior level organisational changes
Cemex announced today changes to its senior level organisation, effective 1 January 2016. All of the executives named below are current executive committee members: Juan Romero Torres has been ratified as President of Cemex Mexico. Ignacio Madridejos Fernández has been appointed President of Cemex USA. Jaime Gerardo Elizondo Chapa has been appointed President of Cemex Europe. Thi...
Standard & Poor's Ratings puts West China Cement on CreditWatch positive
Standard & Poor's Ratings Services said that it had placed its 'B+' long-term corporate credit rating and 'cnBB' long-term Greater China regional scale rating on West China Cement Ltd (WCC) on CreditWatch with positive implications. At the same time, it placed our 'B+' issue rating and 'cnBB' long-term Greater China regional scale rating on the company's outstanding senior unsecured notes on C...
CEMBUREAU position on COP21
As world leaders convene in Paris to discuss a new binding international climate change agreement aiming at limiting global warming below 2˚C, CEMBUREAU, the European Cement association, said it is closely monitoring the COP 21 negotiations as climate policy is relevant both for the cement manufacturing process as for the use of the downstream product, concrete. With the actions it sets forth ...
Anhui Conch to double West China Cement stake
Anhui Conch Cement Co has agreed to more than double its stake in West China Cement Ltd for HK$4.59bn (US$592m). Conch International Holdings (HK), a wholly owned unit of Anhui Conch, plans to increase its holding in Shaanxi-based West China from 21.17 per cent to to 51.57 per cent, the companies said in a filing to the Hong Kong exchange Friday. If the transaction goes through, Anhui Conch w...
LH says its Australian and New Zealand operations are not up for sale
LafargeHolcim said its Australian and New Zealand operations are not currently on the sale block, according to Bloomberg reports following press speculation at the end of last week. Media reports on Friday suggested that the world's largest cement producer was considering exiting the region with the disposal of its operations in Australia and New Zealand for a potential amount of AUD3bn (CH...
LafargeHolcim reportedly considering Australia, New Zealand exit
LafargeHolcim is believed to be considering an exit from Australia and New Zealand, as part of its strategic portfolio review of non-core assets. Australian investment bankers are said to be trying to secure an advisory role to the company ahead of a potential sale that could be worth up to AUD3bn, according to The Australian Business Review. Talk of the potential Australasian sale emerged w...
Vietnam northern province to divest state stakes in Lang Son Cement
The People’s Committee of Vietnam’s northern province of Lang Son plans to sell state stakes in Lang Son Cement JSC (LCC) at a put-through price is set at VND1380 ($0.06) each plus a margin of 15 per cent, the Dau Tu newspaper reported. LCC has a registered capital of VND58.39bn, of which the committee holds a 43.55 per cent stake, according to CaFef.vn newswire reported.
CPA revises construction outlook
The Construction Products Association (CPA) expects further growth for the UK construction industry, although the latest forecast reflects a downward revision since the summer owing to a slowdown in third-quarter housing and commercial activity. In a statement released earlier this week, the association said construction output is expected to increase 3.6 and 3.8 per cent in 2015 and 2016, re...
C&CA elects chairman for 2015-17 period
Mohd Yusri Md Yusuf, managing director of Cement Industries of Malaysia Berhad (CIMA), has been elected chairman of the Cement & Concrete Association of Malaysia (C&CA) for the period 2015-17 at the industry body's annual general meeting, held on 29 October 2015. During the meeting, Philip Ting, CEO of Hong Leong Asia/Tasek Corp, was elected as deputy chairman of the C&CA for the same timefra...
JSW and JK Lakshmi reportedly among shortlist for Reliance cement assets
JSW Cement Ltd and JK Lakshmi Cement Ltd are among seven bidders shortlisted for Reliance Infrastructure Ltd’s 5.5Mta cement assets, an official directly involved in the deal has disclosed to local press. On 5 November Reliance said it had shortlisted seven potential buyers who submitted preliminary expressions of interest to buy its cement business. JSW Cement, JK Lakshmi Cement and...
LafargeHolcim reports 9M15 results and outlines 2018 targets
LafargeHolcim today released its first set of results since the closing of its merger, with nine-month performance impacted by merger and restructuring costs, adverse foreign exchange, an economic slowdown in China and Brazil as well as softness in France and Switzerland. Good performances were seen in the US, UK and most countries in Asia-Pacific and Latin America. The group also announced me...
New executive VP at Martin Marietta
Martin Marietta Materials Inc announced that its Board of Directors has elected Roselyn R Bar, Senior Vice President, General Counsel and Corporate Secretary, an Executive Vice President of the company. Ms Bar joined the company in 1994 as assistant general counsel and assistant corporate secretary. She was promoted to corporate secretary in 1997 and associate general counsel in 1998. She bec...
ASEC Cement closes sale to Misr Cement Qena
ASEC Cement, a business unit of Qalaa Holdings, on Sunday announced it reached financial close on the sale of its holdings in subsidiaries ASEC Minya Cement and ASEC Ready Mix Co to Misr Cement Qena for total consideration of around EGP1bn (US$127m). “We are pleased to announce the sale process closed today, putting in place another cornerstone in our strategy to deleverage at both the holdin...