Cement News tagged: Corporate
HeidelbergCement advances in Asia and Africa, but does less well in Europe
The preliminary figures from HeidelbergCement show an 8.7 per cent advance in turnover last year to €14,020m, or by 4.2 per cent on a comparative basis. EBITDA improved by a more modest 6.7 per cent to €2477m and the trading profit advanced by 9.5 per cent to €1613m, or by 5.6 per cent adjusting for currency movements and changes in the scope of consolidation. The number of employees declined...
TCC International issues profit warning
TCC International Holdings Ltd could be facing a 60 per cent drop in 2012 profit due to slowing demand and pricing pressures in China. The company, a subsidiary of Taiwan Cement, filed a profit warning to the Hong Kong Stock Exchange, forecasting that full-year 2012 net profit could drop significantly due to a supply glut and a decline in Chinese cement prices. TCC operates in several pr...
Cemex Lat'Am publishes 2012 results
As a result of the flotation of a minority stake in the Central and South American operations of Cemex, Cemex Latin American Holdings' 2012 results have just been published for the first time, on the eve of the parent company's annual results announcement. The pro forma figures show a 25.4 per cent increase in turnover to US$1591.7m and an EBITDA advancing by 44.4 per cent to US$547.5m as t...
Italcementi: European decline largely offset by Asian improvement
Italcementi's group cement shipments in 2012 saw a decline of 6.6 per cent to 45.9Mt with cement volumes being down in Europe and in the Middle East, but improving elsewhere. Group turnover declined by 3.8 per cent last year to €4480.1m, or by 4.9 per cent on a comparable basis and the turnover from cement and clinker was off by three per cent to €2903.5m. In concrete and aggregates, turnov...
Holcim (US) names Filiberto Ruiz President and CEO
Holcim US has named Filiberto Ruiz as the company's president and chief executive officer. Ruiz's appointment also includes serving as president and chief executive officer of Aggregate Industries US, a Holcim Group Company. Additionally, Bernard Terver, currently a member of the Holcim Ltd Executive Committee, formerly president and chief executive officer of Holcim (US) and Aggregate Indust...
Eagle Materials trading profit almost trebles, USA
Eagle Materials' turnover, including its share of the Texan cement joint venture with HeidelbergCement, rose by 22.7 per cent to US$366.32m for the six months to the end of September and the trading profit virtually trebled to US$53.35m. After a net interest 20 per cent lower at US$7.31m, the pre-tax profit jumped by 424.5 per cent to US$46.04m. Net debt of US$243.9m at the end of September...
Vicat advances in India and Kazakhstan
Vicat's turnover increased by 1.2 per cent in 2012 to €2292.2m, which becomes an underlying decline of 0.2 per cent on a like-for-like basis. Turnover in cement was ahead by 1.6 per cent to €1155.7m, while aggregates and concrete sales were ahead by one per cent to €826.1m. Other activities saw turnover edge ahead by 0.2 per cent to €310.5m. Cement accounted for 52.3 per cent of turnov...
Cemex expected to narrow fourth-quarter loss
Cemex is expected to narrow its net loss in the fourth-quarter of 2012 from a year earlier, helped by improved performance in its main US market and cost reduction. A Reuters poll showed six analysts on average forecast that Cemex lost US$47m in the October-December period, compared with a net loss of US$146m in the same period of 2011. Analysts' forecasts ranged from earnings of US$77m to a ...
UltraTech Cement plans to raise US$100m from IFC
UltraTech Cement plans to raise approximately US$100m from the International Finance Corporation (IFC) to support its US$297m expansion in Chhattisgarh. According to local media, the company plans to increase clinker production capacity at its integrated plant in Chhattisgarh, eastern India. The report added that the IFC has already started working with the company to identify resource eff...
Lafarge Pakistan appoints new CEO
Lafarge Pakistan Cement has appointed Amr Ali Reda as its new Chief Executive Officer (CEO) for a term of three years, the company informed the Pakistan Stock Exchange. The changes at the top were made through an extraordinary general meeting of shareholders on 21 January 2013. Mr Reda has held many senior positions in various multinational companies. Prior to joining Lafarge Pakistan, h...
Northern Region Cement stocks soar on day one of trading, Saudi Arabia
Saudi-Arabia based cement producer Northern Region Cement tripled on its first day of trading in Riyadh, Bloomberg reports. The stock soared to SAR30 at the close in the Saudi capital from the initial public offering of SAR10 each, according to data compiled by Bloomberg. About 234 million shares were traded, comprising more than half of the volume traded on the benchmark Tadawul All Share ...
UK construction contracts for the third month
UK construction output fell for a third consecutive month in January, according to a survey from the Chartered Institute of Purchasing and Supply (CIPS). January was the first month since last summer in which none of the three construction sub-sectors monitored by CIPS achieved growth. The civil engineering sub-sector suffering its first drop in activity since August. Housebuilding activit...
Chettinad Cement gets shareholders’ nod for delisting
Chettinad Cement announced that it has received shareholders' approval to delist the company’s shares from the stock exchanges. In a filing to the Bombay Stock Exchange (BSE) the company said the proposal to delist shares has been “approved by the requisite majority of votes.” Chettinad Cement is listed on the National Stock Exchange, Madras Stock Exchange and its share are permitted to tra...
UltraTech Cement in talks to buy ABG Cement plant, India
India’s largest cement producer, UltraTech Cement, is in talks to purchase an incomplete 6.7Mta cement plant in Gujarat owned by the ABG Cement group, the Economic Times of India reports. “Executives of both UltraTech Cement and ABG had three rounds of negotiations,” a source told the local daily. According to the report, Axis Capital, the investment banking arm of Axis Bank, is advising...
Cimpor and InterCement announce Brazil asset merger
Cimpor’s board of directors has approved the merger of two of its subsidiaries in Brazil, namely Cimpor Cimentos do Brasil and InterCement Brasil, Cimpor announced. Both companies are fully and indirectly owned by Cimpor, which itself is controlled by Brazil's Camargo Corrêa. The merger was approved on 30 January 2013. "The merger of these two companies in the Cimpor universe will make it pos...
Dyckerhoff improves cement profits in Russia and the USA
Preliminary figures from the Buzzi Unicem subsidiary Dyckerhoff show turnover edging ahead by 0.2 per cent to €1603m in 2012. Of this, 37 per cent was generated in Germany, 39 per cent in Eastern Europe and Russia, 11 per cent in the Benelux and 13 per cent in the United States. Group cement deliveries were 2.4 per cent lower at 1...