Cement News tagged: Corporate
Fauji Cement's net profits rise 31 per cent in 4Q18
Fauji Cement Company Ltd (FCCL) announced its financial results for the year ended 30 June 2018 on 27 August. Its net profits were up by 31 per cent YoY to PKR3.429bn (US$27.8m). This was possible due to a positive tax reversal in 4Q18 and rehabilitation of cement line II. FCCL recorded 10 per cent YoY growth in local and export dispatches, partly due to resumption of normal operations post r...
Cahya Mata Sarawak reports 1H18 revenues of MYR750.3m
Malaysia-based Cahya Mata Sarawak reported 1H18 revenues were up at MYR750.3m (US$183m) from MYR650.2m in 1H17. The 2Q18 period saw revenues of MYR395.3m up from MYR342.5m in 2Q17. Profits before tax stood at MYR144m in 1H18 up from MYR100.3m in 1H17. Profits for 1H18 were MYR143.9m up from MYR100.3m in 1H17m. The 2Q18 profit amounted to MYR100.4m up from MYR68.2m in 2Q17. Profits attrubut...
Titan to gain control of Adocim Joint venture
Titan has reached an agreement to increase its participation in its joint venture in Turkey. Adocim Cimento Beton Sanayi ve Ticaret A.S. is a 50-50 per cent joint venture established between the Cem Sak Group and Titan in 2008. It consists of a modern cement plant with 1.5Mta cement capacity, a 0.6Mta grinding unit and three ready-mix concrete units. Titan has reached an agreement with its p...
Claude Loréa appointed Cement Director for GCCA
Claude Loréa has been appointed Cement Director of the Global Cement and Concrete Association (GCCA). The London office-based role will be taken up by Ms Loréa in November when she arrives from the European cement industry body, CEMBUREAU. Ms Loréa will report to GCCA Chief Executive, Benjamin Sporton and will be a member of the executive team. The role will entail leadership in all aspects...
Arabian Cement makes 2Q18 net loss of SAR50.9m
Arabian Cement Company (ACC) registered a net loss of SAR50.9m (US$13.5m) in the 2Q18 mainly due to reduced performance at its Qatrana Cement factory in Jordan. The company's net profits fell by 5.5 per cent in 2Q18 compared to 2Q17, while sales reached 0.533Mt in 2Q18 down 34 per cent YoY. The Qatrana Cement plant recorded a higher than estimated net loss of SAR52.2m in 2Q18. The company h...
New Vietnamese project receives support
Vietnam's Ministry of Construction has agreed with Cong Thanh Group's proposal to invest in a second grinding unit in Thanh Hoa province. According to the government's plan for the country's cement industry in 2011-20 with a vision to 2030, new cement projects must be developed alongside the same clinker capacity. The company commissioned a 11,000tpd (3.6Mta) kiln and 1.5Mta grinding station...
Sino-Zimbabwe Cement receives ISO certififcation
Sino-Zimbabwe Cement Company (SZCC) has been certified by the International Organisation for Standardisation (ISO). The majority of the company's cement products are consumed in Zimbabwe with a small amount of exports. The ISO certification will make it easier for the producer to market its products internationally. Mr Wang Yong, SZCC managing director said: "We applied for ISO approval and w...
CRH announces revenue increase in 1H18
CRH has reported its results for the half-year period ended 30 June 2018, announcing a slight increase in revenue of one per cent YoY to EUR11.9bn (US$13.76bn). Similarly, overall EBITDA rose one per cent to EUR1.13bn, while the EBITDA margin remained consistent at 9.5 per cent. Profit after tax reached EUR378bn, advancing nine per cent from EUR346bn in the year-ago period. The company has re...
Chairman of Semapa dies
Portuguese billionaire Pedro Queiroz Pereira, whose holding company Semapa controls paper and pulp producer The Navigator Company and cement maker Secil, died on Saturday aged 69, an official spokesman said. Queiroz Pereira was chairman of Semapa and The Navigator Company. Both of these publicly traded companies have separate chief executive officers. His family holds 71 per cent of Semapa. H...
Dongwu Cement records 60% revenue increase in 1H18
China-based Dongwu Cement International Ltd has reported a 60.4 per cent YoY increase in revenue to CNY219.49m (US$31.9m) for the six-month period ended 30 June 2018. Total profit for the period surged to CNY28,593m, compared with CNY7726m in the year-ago period. The cement sector recorded a considerable increase in sales volume, operating income and gross profit as a result of the steady ...
CEM-blanc is launched by Chryso subsidiary in South Africa
a.b.e. Construction Chemicals has launched 'abe CEM-blanc', a new economical white cement which is being made available to the South African retail market. Elrene Smuts, communications manager for the Chryso Group, says abe CEM-blanc is a general-purpose white Portland cement that provides superior early-strength with added aesthetic and decorative opportunities offered by its colour tone, ...
UltraTech receives approval to acquire cement business
UltraTech has announced that it received approval from the Competition Commission of India (CCI) to acquire the cement business of Century Textiles and Industries. UltraTech is expected to acquire the cement business through a share swap deal to consolidate its position as a market leader. Century Textiles has three integrated facilities with a total capacity of 11.4Mta and a 2Mta grinding un...
Adelaide Brighton records net profit increase in 1H18
Australia's Adelaide Brighton has posted a 17.7 per cent YoY increase in net profit to AUD84.5m (US$62m) in the 1H18. Revenue saw a rise of 11.7 per cent to AUD807.2m, on the back of strong markets in New South Wales, Queensland and Victoria. "It's really pleasing to deliver record half-year financial results and dividends for our shareholders. Revenue, EBIT, net profit, cash flow and divid...
Lukavac Cement reports 11% net profit decrease in 1H18
Bosnia and Herzegovina's Lukavac Cement has reported a 11.1 per cent YoY fall in its 1H18 net profit, decreasing to BAM3.2m (US$1.9m) from BAM3.6m. Operating income dropped 2.7 per cent to BAM27.9m in the first half of the year, while operating costs decreased 3.4 per cent to BAM24.2m.
Ecebol expected to meet 25-30% of Bolivian demand
Empresa Pública Productiva Cementos de Bolivia (Ecebol) is expected to meet 25-30 per cent of the country's cement demand from production at its Oruro and Potosi facilities once operational. The producer has been forecasted to sell 3m bags of cement during the 1H19 period, according to Esmerk. Ecebol is expected to launch on the market once the Oruro plant begins operations, with tests at th...
New dry port to repurpose Himal Cement land
Part of the land formerly occupied by the now closed Himal Cement plant in Nepal has been purchased as part of a new government development to build a dry port in Chobhar. A government agency called the Nepal Intermodal Transport Development Board (NITDB) has awarded contracts for the new US$22m development that will be completed by the end of January 2020. The government acquired 53ha of l...