Asia / Oceania
Holcim New Zealand makes profit
Apr, 23 2012
(New Zealand) -- Holcim New Zealand has reported an after-tax surplus of US$6.77m in 2011 according to its annual report.
Total revenue for the year fell by 1.55% to US$214 from US$217m in 2010. Sales of cement fell slightly in 2011 and have been in decline since mid-2008. The national use of cement is a quarter lower than the last peak in 2007.
Notably a proposed new cement plant at Weston, near Oamaru, was on hold because of global economic uncertainty and would not be considered again before late in 2012, the annual report said. However, Holcim's partnerships with large construction companies brought several new projects in 2011, including the Fisher & Paykel Healthcare plant in Auckland and the Auckland District Health Board's six-level car park. Customers south of Christchurch were serviced from Dunedin and bagged cement for Christchurch came from Nelson and Dunedin while bulk cement for Holcim's Sockburn silos was railed from Westport and trucked from Dunedin.
Swiss shareholder advisory group Ethos recommended on Thursday rejecting the merger of cement maker Holcim with France's Lafarge because it believes the Swiss group is better off on its own, More
The National Stone, Sand and Gravel Association has been recognised by the Green Seal Green Office Partnership Program. More