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Yamama Cement reports drop in net profit of 23% to US$179m 14 January 2015
Saudi Arabia: Yamama Cement has reported that its net profit in 2014 has fallen by 23% year-on-year to US$179m from US$232m in 2013. The decrease was attributed to lower sales due to poor cement demand in 2014. Its operating profit fell by 21% to US$175m from US$221m.
Osvaldo Ayres Filho resigns from Shree Digvijay Cement
Written by Global Cement staff
14 January 2015
India: Osvaldo Ayres Filho has resigned as a director from Shree Digvijay Cement Company. His resignation was effective from the close of business on 13 January 2015.
Continental Building Products appoints James Bachmann as president and CEO
Written by Global Cement staff
14 January 2015
US: Continental Building Products (CBP) has appointed James 'Jay' Bachmann to the position of president and CEO, effective immediately. Bachmann has served as interim CEO since November 2014 and CFO since January 2014. He will continue to serve as CFO in an interim role, pending the appointment of a permanent CFO.
CBP has also announced the appointment of Dennis Romps to the position of chief accounting officer (CAO). Romps will also continue to serve as senior vice president and corporate controller, positions he has held since January 2014.
Bachmann formerly served as CFO at Lafarge USA and co-chief financial officer of Lafarge North America from November 2012 through December 2013. He also held multiple executive responsibilities at Lafarge since 2002, including senior vice president of finance (Investor Relations) of Lafarge SA from January 2008 through October 2012 and senior vice president and controller of Lafarge North America from November 2005 to June 2006. Prior to Lafarge, he worked at Arthur Anderson from September 1990 to April 2002.
Romps previously served as CBP's CFO from August 2013 to December 2013. He formerly served as co-chief financial officer of Lafarge North America from December 2006 until August 2013, while also holding a variety of vice president positions in finance, IT and supply chain of the gypsum division of Lafarge North America from 2005 until August 2013.
Kohat Cement plant allegedly causing pollution 13 January 2015
Pakistan: People living in the vicinity of Kohat Cement Factory have complained that dust and fumes emitted from the plant's two kilns are causing serious diseases. A group of local elders said that continuous blasts in the mountains near the factory had also caused cracks in the houses of local people, but that the factory administration was not ready to listen to their complaints or provide assistance to repair them.
The elders said that the plant administration was bound under an agreement to pay surface rent to the people on whose collective land the plant had been built, but no dues had been paid to the people since 1992. The agreement also included providing 80% of the jobs in the plant to local people, which the elders said was also being violated.
Lafarge Tarmac sells land for new Euro2.56bn theme park 13 January 2015
UK: Lafarge Tarmac has agreed to sell land that once housed the UK's largest cement plant to allow the construction of a Euro2.56bn theme park.
The 1.37km2 Swanscombe Peninsula site in Kent has been earmarked as the home for the proposed London Paramount Entertainment Resort after developer London Resort Holding Company agreed a deal to buy the land. The sale follows an announcement in May 2014 that the resort would be designated a 'nationally significant' project.
"We take a long-term view of our landholdings from mineral extraction to development and restoration; creating jobs, supporting communities and continuing responsible environmental stewardship," said Lafarge Tarmac chief executive Cyrille Ragoucy. "We are proud to be part of this exciting project. This is a fitting legacy for land which has been owned by Lafarge Tarmac for over 140 years."
The sale is expected to go through once planning permission for the scheme is granted. London Resort Holding has already held two stages of public consultation, involving more than 4000 local people. Two more stages are planned ahead of a submission to the Planning Inspectorate in Autumn 2015.
"With this agreement in place, the vision for Kent as the home of a nationally-significant, multi-billion pound entertainment resort employing thousands of people is moving closer to becoming a reality," said David Testa, executive director of London Resort Holding. "It further underlies our commitment to delivering the project and is welcome news as we continue to consultant and engagement with the local Dartford and Gravesham communities living near the site and more widely with our interested parties."