Mallet Leaves McInnis Cement

The McInnis Cement board of directors announced that Hervé Mallet, president and chief executive officer of McInnis since November 2016, is leaving the company. Chief Financial Officer Jean Moreau will assume the role of president and chief executive officer on an interim basis.

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HeidelbergCement Reports Positive Quarterly Results

HeidelbergCement’s group revenue rose by 4 percent in the second quarter to €4.8 billion ($5.6 billion). Negative currency effects of €226 million ($264 million) had an adverse impact on revenue. Adjusted for currency and consolidation effects, revenue increased by 9 percent due to sales volume growth in all business lines and successful price increases. 

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Barbados to Enforce 60 Percent Cement Tariff

The Caribbean Court of Justice (CCJ) reinstated extra-regional tariffs on cement imports into Barbados, reported the Daily Nation. In an interim decision on July 17 by CCJ President Justice Adrian Saunders, the regional court ordered Barbados to “restore and enforce” a 60 percent import duty on hydraulic cements imported from outside the Caribbean Community (CARICOM).

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GCC Sales, EBITDA Up in Second Quarter

Grupo Cementos de Chihuahua, S.A.B. de C.V. announced its results for the second quarter of 2018. The company delivered growing sales and EBITDA as well as a higher EBITDA margin, with solid operating results in both the United States and Mexico. GCC also completed the acquisition of a cement plant in Montana, increasing its U.S. production capacity 11 percent; sold non-core, ready-mix assets; and refinanced its bank debt, reducing interest expense significantly. 

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