Cement News tagged: Corporate
Uzbekistan plant to be commissioned in August
Uzbekistan’s Almalyk Mining and Metallurgical Combine is expected to commission its facility in Sherabad, Surkhandarya, in late-August. The plant aims to produce 1.5Mta once it reaches full capacity, and represents an investment of US$212.8m. The project was financed through a US$24.4m investment by the company, alongside a US$90m loan from the Fund for Reconstruction and Development of Uzbe...
Cemex is working 24/7 to meet Philippine cement demand
Cemex president and CEO, Ignacio "Nacho" Mijares, says Cemex's cement plants in plants in Antipolo and Cebu are having to work 24/7, in maximum capacity, to meet the market demand in the Philippines. The government’s PHP8trn (US$150.3bn) infrastructure programme is sending cement demand upward. "We recently were able to 'debottleneck' our dispatch which allows us to increase to half a millio...
Nigeria’s CCNN sees profit after tax more than double
The Cement Co of Northern Nigeria (CCNN) reported a revenue of NGN19.588bn (US$54.2m) in 2017, representing a 31.6 per cent rise when compared with revenues of NGN14.088bn of the previous year. CEO of the BUA Group, CCNN’s parent company, Abdul Samad Rabiu, attributed the rise to improved cement prices and efficient cost management. Gross profit in 2017 reached NGN7.605bn, nearly double...
Zambia starts work on new 1Mta cement plant
Zambia's President, Edgar Lungu, has officially launched China National Building Materials' (CNBM) cement plant in Chongew Mapande Industrial Park, Zambia. The project will be undertaken in two phases, creating over 400 direct jobs and a further 2500 jobs for Zambians once fully operational. "The first phase which is being commissioned today has a total investment of US$200m and consi...
Namibia’s Whale Rock cement plant commissioning in October
Namibia’s Whale Rock cement plant, built with Chinese investment, is expected to fully commission at the end of October, according to company spokesman Manfred Uxamb. The plant represents an investment of US$350m and is expected to produce 1.2Mta of Cheetah-branded cement. Production at the plant started in April . "Whale Rock Cement has already started with cement production in April a...
Bamburi Cement launches new rapid concrete solution
Bamburi Cement has launched a ready-mix concrete that will speed up construction time by enabling continuous concrete pour in projects of more than 2000t in under 48h. Pours of this volume usually take almost a month using traditional methods. The new product, Poweraft, is designed for the construction of foundations for skyscrapers, bridge piers and generally all applications requiring mas...
Martin Marietta's cement revenues rise 14% in 2Q18
Martin Marietta's 2Q18 cement product revenues increased 14.4 per cent and gross profit by 40.6 per cent. Shipments and pricing improved 11.6 and 2.6 per cent, respectively, reflecting the strong underlying market conditions throughout Texas. These factors, coupled with increased production efficiencies, led to a product gross margin of 36.5 per cent, reported Martin Marietta. Inclusive...
Holcim Philippines records 25% fall in net profit
Holcim Philippines recorded a 25 per cent YoY drop in net profit to PHP1.6bn (US$30m) for the 1H18 period, with the results attributed to competition and higher operating costs. However, net sales increased eight per cent to PHP18.8bn on the back of an increase in sales volumes of cement and aggregates. In the 2Q18 net sales advanced 18.5 per cent YoY to PHP10.1bn. "Our second quarter perf...
LafargeHolcim's 2Q18 revenues rise by 6.2%
LafargeHolcim's revenue grew 6.2 per cent in the 2Q18, with total net sales of CHF7442m (US$7468m). For the first six months net sales grew 4.8 per cent on a like-for-like basis. Over the first six months, recurring EBITDA was down -1.4 per cent on a like-for-like basis but earnings increased in the second quarter, with recurring EBITDA up by 1.5 per cent, largely offsetting a soft first...
Cementir's 1H18 cement and clinker sales fall to 4.9Mt
Cementir Holding's sales volumes of cement and clinker in 1H18, equal to 4.9Mt, were essentially unchanged compared to the 1H17, despite the change in the scope of consolidation. On a like-for-like basis, sales of cement and clinker dropped (-3.8 per cent) due to the worse performance of Egypt and Turkey, which suffered slowdowns in the second quarter because of June elections and Ramadan. E...
Cemex's net sales rise by 7% in 2Q18
Cemex's net sales increased by seven per cent during the 2Q18 to US$3.8bn versus 2Q17. Operating EBITDA increaed by four per cent during 2Q18 to US$714m versus 2Q17. Cemex's CEO, Fernando A Gonzalez, said: "We are encouraged by the very favourable dynamics we saw in most of our portfolio during the quarter, with improvements in pricing which should translate into higher profitability during t...
Caribbean Cement plans to restart exports next year
Jamaica's Caribbean Cement Co Ltd aims to restart exports next year following the completion of its expansion, according to the Jamaica Gleaner. The company stopped exports last year to focus on the project which is expected to be completed in 2018. "I would love to restart exports to markets such as Bahamas, Bermuda, Grenada and the Caribbean," said Peter Donkersloot Ponce, general manager, ...
Cemex Latam Holding sees net sales fall 8% in 2Q18
Cemex Latam Holdings (CLH) reports consolidated net sales of US$280m during the 2Q18, eight per cent lower than in 2Q17, while operating EBITDA reached US$62m, 19 per cent lower than in 2Q17. In the 2Q18 domestic grey cement, ready-mix and aggregates volumes fell by eight, 14 and 12 per cent, respectively, compared to results in 2Q17. Meanwhile, consolidated prices in US-dollar terms increase...
Titan's 1H18 net profit rises 78.3% but turnover declines 7%
Titan Cement Group's 1H18 results showed a mixed performance with consolidated turnover reaching EUR712.5m, down EUR61.3m or 14 per cent on 1H17. Titan cited the strength of the euro against the dollar and other currencies as having a negative impact of EUR10m on group EBITDA. Still, net profits after tax amounted to EUR24.8m, up from EUR13.9m in 1H17. Turnover in 2Q18 was disappointing at ...
Siam Cement's 2Q18 profits down 6%
Siam Cement posted a six per cent drop in second-quarter profit on Wednesday, hurt by weak seasonal cement demand and its chemical business. Revenue from the cement and building materials business increased five per cent to THB44.6bn (US$1.34bn) due to demand from Vietnam, Indonesia and the Philippines but was held back by weak demand in Thailand. Profit came in at THB12.4bn for the three...
Ambuja reports 27% rise in standalone net profit
India’s Ambuja Cement has reported a 27.3 per cent YoY increase in standalone net profit for the quarter ended 30 June, rising to INR4.99bn (US$72.62m) from INR3.92bn. Net sales advanced 3.9 per cent to INR29.27bn, compared to INR28.17bn of the year-ago period. "Ambuja is well positioned to benefit from the upsurge in rural demand and the encouraging external environment," said Ajay Kapur, ...