Cement News tagged: Corporate
Jordan: Northern Cement 2Q16 profits drop
Northern Cement Company have reported a 7.6 per cent decline in profits to JOD3.79m (US$5.4m) for the second quarter of 2016, compared to profits on JOD4.1m seen in the same period last year. Profits for the first half of the year also fell, dropping 8.71 per cent YoY. Profits for the first half of 2016 were JOD6.8m compared to JOD7.4m in the first half of 2015.
India: Mangalam Cement conducts new milling trial
Mangalam Cement has undertaken a trial run of its new 0.75Mta grinding unit, located at Aligarh in Uttar Pradesh. The new unit brings Mangalam’s capacity up to 4.0Mta.
McInnis Cement breaks ground on US cement terminal
McInnis Cement officially broke ground at the new cement company's first US terminal in the Port of Providence. The overall cost of the project is expected to reach US$22m when completed by year-end. Construction will begin shortly on the existing ProvPort warehouse, which will be transformed into a world-class receiving and storing facility. McInnis Cement will also build a modern rail and tr...
India: Prism Cement returns to profit for 1QFY16-17
Prism Cement has announced its trading figures for the first quarter of the 2016-17 financial year, CNBC’s MoneyControl reports. In the three months to June the firm made a net profit of INR156.5m (US$2.3m) as compared to a loss of INR149m (US$2.2m) in the same period last year. Overall revenue was down by 0.6 per cent at INR14bn (US$211m), but expenses declined more rapidly, falling by 2.9...
Indonesia: Indocement cuts production by 1Mt
PT Indocement Tunggal TBK will cease operations at two production lines at its Citeureup plant due to the national cement excess, resulting in a 1Mta drop in output levels. The fall in cement sales in the country resulted in Indocement seeing its domestic sales volume drop 3.7 per cent to 7.9Mt QoQ in 2Q16. However, exports for the company increased by 190,000t when compared to the same per...
India: UltraTech’s plan for Bokaro plant moves forward
UltraTech Cement’s project to build a new 1.5Mta plant at Bokaro in Jharkhand has moved a step closer to realisation after the district authorities gave it their support, the Times of India reports. Rai Mahimapat Ray, managing director of the Bokaro Industrial Area Development Authority, said: "We discussed the additional land requirements for a railway siding, levelling of the allotted 50-...
Nigeria: Dangote Cement to switch to using coal
Dangote Cement has announced plans to begin its own coal mining operations as it switches away from gas as a means for powering its plants. The company will begin producing coal at the Ankpa mines in Kogi State from 4Q16. Previously, Dangote had used natural gas as a fuel for its plants, but interruptions to supply and the revaluation of the naira have caused the company to seek alternative...
China: Asia Cement reports 1H16 loss
Asia Cement (China) has released trading figures for the half of 2016, which reveal that the company made a loss of CNY64.6m (US$9.7m) for the period, ET Net reports. In the same six months in 2015, the company had made a profit of CNY9.85m (US$1.5m). The loss comes on the back of revenues that were down seven per cent YoY to CNY2.8bn (US$420m). The fall in profitability was attributed t...
Saudi Arabia: cement firms come under pressure
Saudi Arabia’s cement activities continue to come under pressure as falling sales volume and profitability remain subdued. Companies’ operational performance was impacted due to lower than estimated average realised price on the back of stiff competition, especially in the central region in 2Q16, coupled with the impact of lower fuel subsidy, reports Al Rajhi Capital. Saudi Cement and Southe...
LafargeHolcim India head joins Executive Committee
LafargeHolcim made the decision to induct Head of LafargeHolcim India, Martin Kreigner, into the Executive Committee of the group, giving him additional responsibilities in southeast Asia. Mr Kreigner will be based out of Mumbai. These recent changes to the executive committee reflect the group and its portfolio’s evolution following divestments and integration, LafargeHolcim said in in a s...
India: Mangalam Cement returns to profit with 1QFY16-17 results
Mangalam Cement, part of India’s Birla Group, has published its business results for the first quarter of FY16-17. These see the company return to profit after reporting a loss of INR205m (US$3m) in FY15-16. In the three months to June 2016, Mangalam Cement made a profit of INR226m (US$3.4m) as compared to an INR205m (US$2.8m) loss in the same period last year. Total revenues were up by ...
India: JK Cement quarterly results
Compared to its performance in the corresponding quarter last year, JK Cement Ltd reported significant growth in both net profit and net sales. The company reported a standalone net profit of INR608.5m (US$9.1m)for the quarter ended 30 June 2016, in comparison to just INR10.5m (US$157,275) last year according to a BSE filing made by JK Cement. The company’s net sales increased to INR8.87bn ...
CRH changes its segmental reporting structure
Following the significant acquisition activity undertaken during 2015, CRH has made some adjustments to its segmental reporting structure. The LafargeHolcim assets acquired in 3Q15 have been fully integrated into the group and will be reported as part of Europe Heavyside, Americas Materials and a newly created Asia reporting segment in the company's 2016 Interim results announcement on Thursd...
LafargeHolcim 2Q16 results
LafargeHolcim released its second quarterly results today, which reported net sales of CHF7.28bn (US$7.47bn). Adjusted operating EBITDA (excluding merger, restructuring and other one-offs) increased six per cent like-for-like in the quarter to CHF1.7bn (US$1.75bn). Net income increased CHF318m (US$326.5m) to CHF452m (US$464m) for the first half of the year and the group's annual divestment tar...
Siam Cement acquires 65% share in Lafarge Holcim Vietnam
LafargeHolcim Ltd has signed an agreement with Siam City Cement Public Company Ltd f or the divestment of its 65 pe rcent shareholding in LafargeHolcim Vietnam, it said on Thursday. The enterprise value of the deal was CHF867m (US$890.7m), on a 100 per cent basis, the Swiss-French group said in a statement. It said the transaction was subject to customary regulatory and shareholder appro...
LafargeHolcim changes to Executive Committee
LafargeHolcim has announced changes made to the Executive Committee, which reflect the evolution of the group’s portfolio following recent divestments and the transition into its next phase as its closes the integration phase. New appointments are as follows: Paul Casanova will take responsibility for North America, including Mexico (currently responsible for operations in Latin America)...