Displaying items by tag: Sibirsky Cement
Russia: Sibirskiy Cement spent a total of US$17.8m towards upgrading its cement plants in 2016. It spent US$5.2m towards modernising and automating production and about US$12.6m on the repair and maintenance of equipment, according to local media. Installing automated control systems was a priority of the upgrade work. Notably, the cement producer’s Topkinskiy plant received upgrades to its grinding and finished products units. Upgrade work will continue in 2017 with purchases of both domestic and foreign equipment.
Russia: Sibirsky Cement’s production has fallen by 19% year-on-year to 3.1Mt/yr in 2016. It has blamed the fall on a reduction of market demand in the Siberian Federal District. Cement consumption in the region is expected to fall by 14% in 2016.
Russia: Sibirsky Cement's cement plants produced about 3.15Mt of cement in the first nine months of 2015, down by 10% year-on-year. The Topki Cement plant produced 2.27Mt of products, a 6% year-on-year fall, Kransoyarsk Cement produced 621,100t, down 14% year-on-year, while Timlyui Cement made 261,900t, a 28% decline.
Russia: Sibirsky Cement has announced that it expects its sales to decrease by 7% year-on-year in 2015, according to first vice president Gennady Rasskazov. "We are making budget plans for next year, but I think that sales will stand at 4 - 4.1Mt," said Rasskazov. In 2014, Sibirsky Cement aims to sell 4.3Mt of cement.
Russia: Yuri Kozlovsky has been appointed as Managing Director of Krasnoyarsk Cement plant, part of the Sibirsky Cement Holding group. Kozlovsky previously served as the technical director for the plant. He started his career in 1987 at the Topkinsky cement plant, graduated from the Belgorod Technological Institute of Building Materials in 1993 and returned to Topkinsky until 2011.
Russia: Former President and CEO of SibCem Andrey Muraviev has been nominated for the holding company's board of directors. SibCem shareholders hoped that their decision would help the Russian cement producer to recover its market share and financial performance.
Muraviev is a US-educated Russian entrepreneur, who ran SibCem since 2004 and led the company as its president for its first four years until 2008. During these years, the company brought under its umbrella all the cement assets it controls, stepped up investment in innovative technologies and made an initial public offering.
SibCem was Russia's second largest cement producer by mid-2008. Muraviev quit as CEO in August 2008 over disagreements with SibCem's Chairman Oleg Sharykin. Muraviev is currently President of Parus Capital, a Russia-dedicated investment fund which is a member of the Investor Rights Protection Association.
"I believe SibCem is now one of the most undervalued cement companies the world. I see the main reasons for this in its low transparency and poor corporate governance, lack of new assets and inefficient personnel management," commented Muraviev on his possible return to Sibir Cement. Since Muraviev left in 2008 the company has had its entire top management team and all its directors replaced. SibCem's annual revenues also declined by 75%.
Russia: Russia's Federal Antimonopoly Service has blocked concrete producer Sibirsky Cement from acquiring a 90% stake of Iskitimtsement's voting shares, the authority has said in a statement. According to the watchdog the purchase might hinder competition within the Siberian Federal District. The Federal Antimonopoly Service also prohibited Russkaya Tsementnaya Kompaniya from acquiring a 100% stake of Iskitimtsement's voting shares, on the grounds that the merger might trigger a price hike.
In October 2012 Iskitimtsement reported a rise in its output by 23.1% year-on-year to 1.12Mt for the first nine months of 2012. Later in the same month it announced that it expected to triple its net profit in 2012 to Euro19.7m. Established in 1934, Iskitimtsement is one of the leading cement producers in the Novosibirsk Region.