Cement News tagged: Corporate
Cemex re-organises its Cementos Chihuahua investments
Grupo Cementos de Chihuahua’s ownership is being restructured, with Cemex taking a 23 per cent direct stake as well as a minority interest in Camcem, which will be the majority shareholder in Cementos de Chihuahua. Cementos de Chihuahua will remain a quoted company. Cementos de Chihuahua saw its turnover for the first six months decline by 1.4 per cent to US$333.4m, with the US operations r...
Indonesia: Chinese plant begins production in West Papua
A new cement plant funded by China’s State Development and Investment Corporation (SDIC) has begun operations in the Indonesian state of West Papua, China Daily reports. The 1.5Mta plant was designed by Anhui Conch and forms part of SDIC’s wider investment strategy in Indonesia. The plant was built at a cost of CNY2.2bn (US$329m) over a 16-month period. Li Bing, vice president of SDIC, s...
China: Socam to sell part of its stake in Nanjing Jiangnan Cement
Socam Development is to sell a 35 per cent stake in Nanjing Jiangnan Cement to property developer Country Garden for CNY147.6m (US$22m), Etnet reports. Socam Development will retain a 25 per cent stake in Nanjing Jiangnan, and intends to sell this to Country Garden at a later date.
Egypt: Sinai Cement returns to profit
Sinai Cement has announced that it earned a net profit of EGP15.4m (US$1.7m) for the first half of 2016, reversing the EGP28.7m losses that it recorded in the same period last year, Mubasher reports. Performance was even more encouraging when considering the second quarter alone. In the period April to June 2016, Sinai’s profits were EGP52.6m as compared to a loss of EGP17.6m in 2015.
India Cements to develop Coromandel limestone
India Cements has proposed the development of the Coromandel limestone mine in Chilamkur and Kalamalla, Mandal Yerraguntla, Andhra Pradesh. The project represents an investment of INR1650m (US$24.6m), including the cost of the land. The 413ha site would yield around 3Mta of limestone, which the company would use for captive consumption at a new 2Mta greenfield clinker plant, located next to...
Cherat Cement posts FY16 results, plans second line
Pakistan's Cherat Cement Company Ltd (CHCC) has announced its FY16 results, which saw the company reporting a profit after taxation of PKR1.405bn (US$13.4m) compared to PKR1.288bn in last corresponding financial year, an increase of nine per cent. According to a company statement to the Pakistan Stock Exchange (PSX), its net sales increased by eight per cent to PKR7079bn whereas the cost o...
Kenya: Bamburi reports KES4.27bn profit
For the 1H16 Bamburi Cement Ltd reported a pre-tax profit of KES4.27bn (US$42.12m), compared to KES4.5bn achieved in 1H15. Turnover for the six months stood at KES19.11bn (US$188.5m) versus KES19.32bn for the same period last year.
Belarusian Cement to merge with Minsk Silicate Materials
Belarusian Cement Plant, located in the Kostiukovichi Mogilev region, is set to incorporate OAO Minsk Silicate Materials Plant. The merger is due to be finalised by December 2016. The Belarusian Cement Plant will increase its statutory capital by issuing 287,227 supplementary shares valued at BYN10 (US$4.97) each. These will be transferred to the state, expanding the state-owned stake in th...
CRH more than doubles EBITDA to EUR1.12bn in 1H16
CRH plc announces that its 1H16 sales increased by 35 per cent to EUR12.7bn and EBITDA more than doubled on the same period a year ago to EUR1.12bn. Building material sales rose on a proforma basis by eight per cent on 2015, including an increase of 13 per cent in the Americas, three per cent up in Europe and four per cent ahead in Asia. After depreciation and amortisation charges of EUR532m...
Aalborg Portland close to sealing Belgian acquisition
Danish cement company Aalborg Portland has acquired Belgian cement company Compagnie des Ciments Belges (CCB) for DKK2.30bn (US$349.81m). The acquisition increases Aalborg Portland's operations by 20 per cent and boosts its turnover from DKK6.5bn posted in 2015 to over DKK8bn. Henning Brook, CFO at Aalborg Portland, states that the acquisition will only marginally affect the financial r...
Bolivia: Soboce receives new kiln
Bolivian cement company Sociedad Boliviana de Cemento (Soboce) has received a vertical kiln, the first to will installed in Bolivia, as part of Illimani LP12 project. An FLSmidth OK 36-4 mill will also be fitted into the firm's Viacha factory. The plant currently produces over 0.9Mta of cement but will see a capacity raise by 136 per cent to 2Mta. The project is 45 per cent complete and r...
Pakistan: Cherat Cement sees FY1516 profits rise 9%
Cherat Cement Company has reported a rise in net profits of 9.1 per cent for the year ending June 30, 2016, Pakistan's The News reports. Profits reached PKR1.4bn (US$13.3m) on sales revenues of PKR7.1bn – the latter up by 7.8 per cent. Faizan Ahmed of JS Global said that the rise was drive by stronger sales and falling energy prices, stating: “Most of the increase in dispatches was led by l...
Cemex to commission new 1Mta Colombian plant in December
Cemex expects to bring its new cement plant in Maceo, Antioquia, Colombia online at the end of this year, according to Carlos Jacks, president of the Mexico-based cement producer. The new works will have a capacity of 1Mta and represents an investment of US$360m. The project also includes the construction of a 40km-long concrete access road which connects the works to the motorway system.
Egypt: South Valley profits up 33%
South Valley Cement announced a net profit increase of 33 per cent for the 1Q16. A net profit of EGP42.85m (US$4.82m) was registered in the quarter compared to EGP32.35m for the same quarter in the previous year. Revenues for the company reached EGP254.82m (US$28.7m) in 1Q16, a YoY increase of 14.3 per cent compared to EGP223m for 1Q15.
Argos Board approves sale 20% stake in Argos Panamá
The Board of Cementos Argos has approved the sale of 20 per cent of shares of Argos Panama for the sum of US$126m. Buyer is the Grupo Provivienda, controlled by Federico Salazar, a Colombian-Panamanian investor. The company is part of the Grupo Cusecar, which has 22 years of experience in the construction sector in Panama and Central America. The sale is part of Cementos Argos’ plan to ...
China: Anhui Conch profits down 29% for 1H2016
In its trading statement for the first six months of 2016, Anhui Conch has reported that its net revenues fell one per cent YoY to CNY24bn (US$3.6bn), while profits slipped further, falling by 28.8 per cent to CNY3.4bn (US$506m). The company noted that while Chinese demand for cement continued to grow in the first half of 2016, intense competition and overcapacity had had a negative effect ...