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Chief financial officer of Grupo Cementos de Chihuahua dies
Written by Global Cement staff
26 April 2017
Mexico: Martha Soledad Rodríguez Rico, the chief financial officer of Grupo Cementos de Chihuahua (GCC) has died. The company is conducting a succession process that will appoint a replacement in due course.
UltraTech profit falls 12% in first quarter of 2017 25 April 2017
India: Ultratech Cement has reported a fall of 11.84% in its net profit to US$107.1m for the quarter ending 31 March 2017, compared to 121.5m in the first quarter of 2016. However its total revenue rose by 4.25% to US1.21bn compared to US$1.16m a year ago.
For the year ending 31 March 2017, the company posted a rise of 10.87% in its net profit, which rose to US$409.1m. Revenue increased marginally by 1.44% to US$4.33bn.
Canada: Lafarge Canada has clarified its role in supporting the Vision Zero road safety campaign following a city council meeting in Edmonton. The construction materials producer explained that its focus is on health and safety and that it is not intending to use its trucks to monitor the speed of other drivers. In a statement the company explained that as one of the largest trucking companies in Edmonton it has dozens of concrete trucks moving around the Greater Edmonton Area, interacting with vehicles, bicycles and pedestrians. Due to this the Zero Vision campaign caught its attention and it expressed its interest in supporting it including speed reduction measures and reducing heavy acceleration and braking in its fleet.
Following the meeting in mid-April 2017 local press including the Edmonton Sun newspaper reported remarks by Bruce Willmer, regional vice-president for Lafarge Canada that on-truck cameras could potentially be used to record speeding vehicles and that this information could be passed on to the authorities. The comments received a mixed response in the local media.
QNCC reports lower Q1 profit 25 April 2017
Qatar: Qatar National Cement Company (QNCC) reported that it made a net profit of US$23.3m in the first quarter of 2017, a 31% fall compared to a net profit of US$34.0m posted for the first quarter of 2016. QNCC is currently in the process of constructing a 5000t/day production line, its fifth, along with Fives Group of France.
Switzerland: Eric Olsen, the chief executive officer (CEO) of LafargeHolcim, has resigned from the company following the completion of a review into a conduct of a cement plant in Syria. An independent internal investigation concluded that the a number of measures taken to continue safe operations at the plant were ‘unacceptable’ and ‘significant’ errors of judgement were made that contravened the applicable code of conduct. Although Olsen was not found personally culpable or even aware of the misconduct by the board of directors he has resigned to draw a line under the affair.
The review examined allegations that company personnel had struck deals with armed groups and sanctioned parties during 2013 until the plant closed in September 2014. The findings also confirmed that selected members of group management were aware of the situation. Remedial measures announced in March 2017 will be taken including: the adoption of a more rigorous risk assessment process focusing on high risk third parties; introduction of a restricted party screening program and a new sanctions and export control program; as well as continuation of other efforts from an external benchmarking exercise. Eric Olsen and his executive management team will implement the remedial measures supported by the Ethics, Integrity & Risk Committee.
“Although I appreciate that those responsible for the Syrian operations appear to have acted in a manner they believed was in the best interests of the company and its employees, there can be no compromise when it comes to compliance rules and adherence to the standards set out in the company’s code of conduct, no matter what the operational challenges are. We are absolutely committed to ensuring that events like those that occurred in Syria must never happen again at LafargeHolcim,” said Beat Hess, chairman of the board of LafargeHolcim.
Olsen will leave LafargeHolcim on 15 July 2017. Hess will become interim CEO whilst a replacement is found. Roland Köhler, currently an executive committee member with responsibility for Europe, Australia/New Zealand and Trading, will be appointed chief operating officer.