Displaying items by tag: GCW238
Brazil: The office of the Superintendent-general of the antitrust watchdog Cade has recommended a penalty with fines to Votorantim, Holcim and Cimento Tupi for a coordinated refusal to sell certain types of cement in São Paulo state. According to the office, these companies damaged free competition and made it hard for potential competitors to enter the market.
The office also said that there was not enough evidence against Cimentos Liz, Cibrasa, Ciplan, Cimpor, Itabira, Itaguassu, Itambe, Ibacip, Itapessoca, Itapicuru, Itapetinga, Itapicuru, Itapissuma, Itautinga, Intercement and Lafarge and that the administrative process should be dismissed. Cade's own tribunal will have the final decision on whether the cement firms will be fined or not.
37 cement companies apply for coal licences
15 February 2016Egypt: 37 companies have applied for licences to use coal at cement plants, according to the Industrial Development Authority (IDA). IDA Head Ismail Gaber said that the new licenses aim to increase investments in the cement industry to meet local consumption.
Minister of Industry Tarek Qabil announced in January 2016 that licences would be issued to establish 14 new coal-fired cement factories in nine governorates in Beni Suef, Minya, Qena, Sohag, Aswan, New Valley, Suez, Marsa Matruh and South Sinai. Together these plants will have a cement production capacity of 28Mt/yr. The deadline for receiving offers from companies is 10 May 2016.
Workers stage strike at LafargeHolcim
12 February 2016South Africa: LafargeHolcim staff planned to strike on Friday 12 February 2016 over wages at the local operations of LafargeHolcim, according to the National Union of Mineworkers (NUM) and Pretoria News.
The NUM, which started pay talks with the Franco-Swiss company in October 2015, was demanding a salary increase of 13% and benefits including a housing grant, according to union shop steward Petrus Mositi. NUM members made up about half of the company's workforce. "We can still work this issue out depending on availability and willingness to find a solution," said Mositi.
Raysut Cement profit drops by a fifth in fourth quarter
12 February 2016Oman: Raysut Cement reported a 21.5% drop in fourth-quarter net profit, according to Reuters’ calculations. The largest cement firm by market value in the sultanate made US$13.4m in the three months ending 31 December 2015, compared with US$17.0m in 2014. Raysut’s net profit for 2015 was US$54.6m, down by 23.6% on the US$71.2m it earned in the previous year.
ACC reports 69% drop in profit
12 February 2016India: ACC Ltd has reported a 69% drop in its consolidated net profit for the quarter ending 31 December 2015, on account of lower income from avenues other than its core business.
The consolidated net profit was US$14.9m compared to U$47.8m in 2014. Net sales rose by 3% to US$417.3m from US$404m in 2014. Its earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 9% to US$41.0m from US$37.7m in 2014.
Bid made for Lafarge Halla Cement
12 February 2016South Korea: The South Korean private equity fund Glenwood Private Equity will join with Hong Kong-based private equity fund Baring Private Equity Asia to buy Lafarge Halla Cement from LafargeHolcim for US$455m, according to investment bank sources.
According to investment bank industry sources on 11 February 2016, Glenwood PE, a preferred bidder of Lafarge Halla Cement, has notified LafargeHolcim that it selected Baring Private Equity Asia as a joint takeover partner. The group will decide whether to give a final nod to the acquisition proposal ahead of its shareholders’ meeting scheduled in March 2016.
Glenwood PE will likely establish a strategic partnership with a local cement company after it buys Lafarge Halla Cement. The possible cement companies include Sungshin Cement Co. with a 12.9% market share as of 2014 or Hanil Cement, which had a 13.6% market share in 2014. The combined market share of Lafarge Halla Cement (12.1%) with either of the cement companies would top the 19.8% share held by the current South Korean market leader Ssangyong.
Buzzi Unicem sales revenue rises by 6.2% to Euro2.66bn in 2015
11 February 2016Italy: Buzzi Unicem has reported that its revenue rose by 6.2% year-on-year to Euro2.66bn in 2015 from Euro2.51bn in 2014. Clinker and cement sales volumes increased by 1.7% to 25.6Mt from 25.1Mt. It attributed the growth to market recovery in the US and Eastern Europe and an additional contribution from the Korkino cement plant in Russia.
Following a sharp drop in business during the first six months of 2015, the group reported that the recovery in international trade recorded in the second half of the year was weaker and less than expected, especially in mature countries. Subsequently, its growth in 2015 was half of its previous estimate. Construction activity in the last quarter of 2015 was bolstered by a dry and mild climate in Italy, Central and Eastern Europe allowing construction activity to remain at levels above the seasonal average.
The group’s net debt fell to Euro1.03bn in 2015 from Euro1.06bn in 2014. It expects from preliminary data that its earnings before interest, taxation, depreciation and amortisation (EBITDA) will be Euro470m in 2015.
Cementir profit rises by 3.1% to Euro103m in 2015
11 February 2016Italy: Cementir Holding has reported that its profit rose by 3.1% year-on-year to Euro103m in 2015 from Euro100m in 2014. Its revenue rose by 2.2% to Euro969m from Euro948m. It attributed the growth to good performance of operations in the Scandinavian countries, Malaysia, Italy and Egypt.
“The Group ended 2015 with earnings before interest, taxation, depreciation and amortisation (EBITDA) in excess of the target of Euro190m. Improved performance in Scandinavian countries and Italy, plus the stable contribution of the Far East, offset the lower earnings in Turkey and Egypt caused by socio-political tensions across the Mediterranean and the Middle East, as well as the negative impact of the depreciation of some foreign currencies,” said Francesco Caltagirone Jr, Chairman and Chief Executive Officer of Cementir. He added that the group reduced its net debt to Euro222m in 2015.
The Italy-based building materials company produced 9.37Mt of cement in 2015, a decrease of 2% year-on-year from 9.56Mt in 2014.
Renold Couplings to launch new coupling ranges in April 2016
11 February 2016UK: Renold Couplings has announced it will launch two new product ranges of couplings at the Drives & Controls exhibition in April 2016. Both couplings are designed for industrial couplings such as those in mines and quarries.
The Hi-Tec RBI range will extend the existing RB range by incorporating a new block profile to increase torque throughput by 50%. As with the existing industrial RB range, the new Hi-Tec RBI will be available off the shelf.
The new Hydrastart range will now come complete with Renoldflex coupling. This addition will be ‘drop-in’ so the drive assembly can remain in place, allowing the Hydrastart to be swapped out. The only bespoke machining will be the bores at the end of the couplings reducing lead times.
“We are pleased to say that the Hi-Tec RBI and Hydrastart are just the first of our scheduled product launches in 2016. We listened to our customers and recognised that Renold Couplings not only needed to expand our current offering and reduce lead times, but also become more price-competitive in the market. The introduction of new ranges throughout 2016 will go some way to address this,” said Tom Hattersley, Commercial Director for Renold Couplings.
Hope Construction Materials to launch bagged cement product
11 February 2016UK: Hope Construction Materials has announced the launch of a new bagged cement product scheduled for later in 2016. The new product, called Professional Grade Cement, will be marketed in the south of England.
“Hope Works has been making cement for more than 80 years and has an outstanding reputation for consistent quality and service. We are delighted to be able to offer our product in our own branded bag to customers for the very first time,” said Hope’s Commercial Director for Cement, Gary Brennand.
The new product packaging will feature a large ram, paying homage to the company’s origin in Derbyshire, which is transparent to ensure the consistent colour of Hope cement is always clearly visible. All the bags will be plastic, weatherproof and packed to give end users confidence that they can store the bags outdoors.
Hope cement had previously been available in bags through a third party supplier. This launch marks the first time Hope cement will be on the company’s packaging. The new product follows an 18-month research and development process with consultation of merchants and professional builders.