Cement News tagged: Corporate
Maple Leaf Cement profit down 4%
Pakistan’s Maple Leaf Cement has reported a 4.2 per cent YoY fall in its profit after tax for the year ended 30 June 2018. Profit for the period came in at PKR4.572bn (US$37.1m) with earnings per share of PKR7.92. Sales for the year improved by 7.5 per cent to reach PKR25.684bn, compared to PKR23.885bn in the year-ago period. However, the cost of sales surged by 25 per cent YoY due to rising c...
Cemex would have investment grade until 2020
The strategy to reduce the leverage level would allow Cemex to recover its investment grade in the first part of 2020, according to Citibanamex projections. "We expect the company to end 2018 and 2019 with a net debt/EBITDA ratio of 3.8 and 3.1 times, respectively. For the first half of 2020 the indicator would reach 3.0 times, excluding the sale of assets,” explains an analysis of the finan...
Dangote launches Blocmaster Cement
Dangote has unveiled its new BlocMaster Cement, describing it as extra strong and ideal for block moulding in Nigeria. According to Joe Makoju, group managing director at Dangote Cement, the new product is the result of years of deep research, adding that it had been tested and approved by builders throughout Nigeria. Strong and affordable, BlocMaster is also rapid setting making it particular...
Steppe Cement posts 22% turnover increase in 1H18
Kazakhstan’s Steppe Cement recorded a 22 per cent increase in consolidated turnover to US$32.8m for the 1H18 period. Profit after tax rose to US$200,000 in the period, up from a US$300,000 loss in the 1H17. The company also noted that production across all facilities in Kazakhstan advanced by 14 per cent to 4.8Mt in the first half of the year. While the construction industry remains strong i...
Buzzi Unicem begins share buyback scheme
Italy’s Buzzi Unicem has announced the commencement of a share buyback programme, with the company able to repurchase up to 7m ordinary and saving shares. The plans are intended to provide the company with an instrument for liquidity investment, according to a press release. The programme will be completed within 18 months from the date at which authorisation was received on 10 May 2018 at t...
Tarmac receives council approval for plant upgrade
UK-based Tarmac has received the approval of East Lothian Council to modernise its facility in Dunbar, Scotland. The plans include the installation of a new grinding station and storage silo. "The proposed mill will replace two existing mills on the site and will be more energy-efficient and quieter than those existing mills," stated the planning officer’s report. Oliver Curtin, plant mana...
RCCPL plans Maharashtra captive and WHR power plants
RCCPL, the Birla Corp subsidiary formerly known as Reliance Cement Co, is planning a 40MW captive and a 10.6MW waste heat recovery-based power plant at Mukutban village, Yavatmal in the Indian state of Maharashtra. The power plants will be part of the plant integrated cement plant on land already acquired by the company. The INR24.5bn (US$338m) investment will be paid through a mix of debt an...
Siam Cement expect stronger growth in Myanmar in 2019
Siam Cement Group (SCG) expects its growth target for 2018 in Myanmar to be affected by inflation and flooding. This is despite seeing cement sales in Mon state rise nine per cent YoY and revenues of US$152m in the 1H18, which were up 14 per cent on 1H17. Surachai Pomjindachote, SCG's Myanmar director, said," For this year, Myanmar is facing floods and inflation, so total growth of the countr...
Taiwan Cement continues talks with Sanko Holding
Taiwan Cement Corp (TCC) has announced that it and Sanko Holding AS has signed a memorandum of understanding and a confidentiality clause regarding the company’s intention to invest in the Turkish group. Talks about the strategic partnership are expected to continue until a definitive contract is signed. Taiwan Cement has previously noted its interest in the Turkish cement industry, which wo...
Kolos Cement released from competition requirements
Mauritius-based Gamma Civic Ltd has been released from its commitment set by the Competition Commission of Mauritius (CCM) to have its subsidiary Kolos Cement Ltd, previously known as Holcim (Mauritius), resort to a bidding exercise to buy cement. The company currently operates the largest terminal on the Indian Ocean at 60,000t. Gamma Civic acquired 51 per cent of the company in 2015, and wa...
Votorantim Cimentos sees 15% rise in 1H turnover
Votorantim Cimentos saw its first-half turnover improve by 14.9 per cent in 1H18 to BRL5738m (US$1365m) when compared with 1H17. The Brazilian producer’s cement sales advanced by 18 per cent YoY to BRL4191m and the aggregates turnover rose by 52.9 per cent to BRL198m.While the turnover in ready-mixed concrete was a more modest 8.7 per cent ahead at BRL1019m, the turnover in other products and ...
Thatta Cement reports 22% drop in net sales for FY17-18
Pakistan’s Thatta Cement has recorded a 22.3 per cent YoY fall in net sales to PKR2.84bn (US$23.03m) for the FY17-18 period, ended 30 June 2018. Operating profit decreased 38.4 per cent to PKR563.2m (FY16-17: PKR913.69m), while net profit slipped 38.7 per cent to PKR356.86m (FY16-17: PKR581.99m). Consolidated net sales saw a minor decline of 0.8 per cent to PKR3.79bn, compared with PKR3.82bn...
Cementos Tudela Veguín to construct terminal in Gijón
Spain’s Cementos Tudela Veguín has announced plans to construct a terminal at Gijón port, Asturias, for the reception, storage and loading of cement. The terminal is expected to serve the facilities of the company’s subsidiary, Masaveu Industria, and occupy an area of 14,000m 2 . The project was given permission to proceed by the port authority after the deadline for a 20-day competition pro...
CimGabon to build second line
CIMAF expects to launch construction on a second production line at CimGabon's Owendo works, near Libreville, in less than two months. The EUR10m new line will add 0.35Mta of production capacity to the existing plant, taking total capacity at the site to 0.85Mta. Line 2 is scheduled to come online in a year’s time. Last year, the Gabon government suspended cement imports to address fraud, b...
CIMAF starts commercial production in Chad
CIMAF has started commercial operations of its Lamadji plant in Chad following a ceremony led by the country’s Minister of Mines and Industrial and Commercial Development, Youssouf Abassalah. Inaugurated on 12 June 2017, the CAF23bn works has a cement capacity of 0.5Mta, with the option to expand to 1Mta. A modest fall in domestic cement prices is expected as the facility enters commercial...
Cemex USA acquires Texas quarry
Cemex USA has purchased a limestone quarry in Chico, 45 miles northwest of Fort Worth in Texas, from Blue Star Materials II. Cemex will use the reserves which are expected to last another 25 years to supply aggregates for roads, bridges, commercial buildings, housing and other building projects in the state of Texas. The quarry covers 122ha. "The Dallas-Fort Worth area is expected to grow e...