Cement News tagged: Corporate
Saudi Arabia: Najran Cement reports lower 2Q16 profits
Najran Cement in Saudi Arabia has announced lower earnings during the second quarter of 2016, according to a bourse filing. Earnings fell 56.8 per cent YoY to SAR33.6m (US$8.96m) from SAR77.83m due to lower sales volumes. The gains made by an increase in average sales prices and a fall in selling and distribution expenses were offset by a slowdown of building and higher energy prices. In...
Titan Cement brings 0.2Mta plant online in Uzbekistan
Titan Cement has commenced production at a new cement works in Karauzyak, Karakalpakstan in Uzbekistan. The 0.2Mta plant represents an investment of UZS10.6bn and is expected to employ 200.
EBRD postpones its decision on 20% stake in Holcim Azerbaijan
The European Bank for Reconstruction & Development's (EBRD) Board of Directors has postponed the pending decision on raising the bank’s stake in the equity capital of Holcim (Azerbaijan) OJSC up to 20 per cent but retains plans to double its participation in the cement producer. "Now the consideration of this matter is scheduled for 7 September 2016," said the EBRD. Previously, the matter ...
UK: Breedon to complete Hope acquisition in August, 1H16 results
Following the conclusion of the Competition & Markets Authority's (CMA) review, Breedon Aggregates expect to complete the acquisition of Hope Construction Materials Limited (Hope) on 1 August 2016 (subject to final clearance from the CMA). On completion, the enlarged group will be renamed Breedon Group plc, subject to approval by its shareholders at an Extraordinary General Meeting on 21 Ju...
Egypt: Suez Cement 1H16 sales up 6%
Suez Cement Group of Companies (SCGC) 1H16 results showed that growth slowed in 2Q16, due to lower demand during the holy month of Ramadan and June. However, overall, the domestic cement industry grew 7.6 per cent in 1H16 versus 1H15. Cement prices continued to improve, following 1Q16 trends to jump four per cent during April, May and June. That being said, prices were still three per cent ...
Peru: Cementos Pacasmayo 2Q16 revenues up 9%
Cementos Pacasmayo SAA has announced its consolidated results for the 2Q16, stating that volumes of cement, concrete and blocks rose 4.8 per cent during the period and revenues increased 9.1 per cent to PEN301.7m (US$90.6m). Consolidated EBITDA of PEN93.1m (US$27.9m) was up 15.7 per cent, excluding PEN8.8m non-operating income booked in 2Q15. However, when including this income, EBITDA was ...
Ghana: Dangote Cement takes delivery of 1000 trucks
Dangote Cement Ghana has received delivery of a fleet of 1000 trucks as part of its plan to expand its distribution network in the country, Star FM reports. The firm states that the purchase is the largest of its kind by any Ghanaian company and will create up to 5000 direct and indirect jobs. Managing Director of Dangote Cement Ghana, Tor Nygard, said of the vehicles: “These are compone...
LafargeHolcim receives go-ahead for Indian streamlining
India’s Cabinet Committee on Economic Affairs has given its blessing to LafargeHolcim’s proposals to simplify the structure of its remaining operations in the country. The company is now awaiting the formal sign-off of the Foreign Investment Promotion Board, but this is expected shortly. Under the proposals, LafargeHolcim will increase its stake in Ambuja to 61.14 per cent, while Ambuja its...
Uzbekistan: Akhangarancement output up 5.3% in 1H2016
Akhangarancement has announced that its cement output rose by 5.3 per cent YoY to 918,800t in the first half of 2016, according to reports from the Trend news agency. Sales also rose by a similar amount, reaching 920,825t in 1H2016 – an increase of 5.1 per cent – while clinker output grew more quickly, rising by 11.7 per cent to 662,295t. In addition to producing for the domestic market,...
Russia: Anhui Conch signs Ulyanovsk plant agreement
Anhui Conch Cement is planning to build a greenfield cement plant with a capacity of 5000tpd and an investment of US$500m in Ulyanovsk, Russia. The project will see the construction of a cement plant in the Terengulsky district of the Ulyanovsk region. According to Sergey Morozov, interim governor of the Ulyanovsk region, the agreement became a sort of a quality mark of an investment clima...
India: ACC's Jamul clinker plant starts up
ACC, part of LafargeHolcim group, has started commercial production of its new 2.79Mta clinker plant at Jamul, Chhattisgarh, India. “We are pleased to announce commencement of commercial production from our new state-of-the-art 2.79Mta clinker facility at Jamul, located in Chhattisgarh with effect from 19 July,” the company said in a regulatory filing. Part of this integrated project, the...
India: Shree Cement to invest INR5bn in 2Mta grinding plant
Shree Cement will invest INR5bn (US$74.4) in a new 2Mta grinding unit in Sarai Kale Karasawa, Jharkhand, India. The company entered a memorandum of understanding with the Jharkhand government in an investor meet on 20 July relating to the project, which is located in the fastest-growing state in eastern India.
South Korea: Hyundai Cement up for sale
Hyundai Cement Co. is expected to put up for sale this year. Despite only having a small market share in South Korea, the upcoming sale is expected to bring about change in the local cement market that is fiercely competitive. Currently, South Korea’s cement market is dominated by seven major companies who hold a 90 per cent market share. Of these, Hyundai Cement ranks seventh, holding 7.38...
India: UltraTech to complete Jaypee acquisition ‘in next 12 months’
Birla Group chairman, Kumar Mangalam Birla, told his firm's annual general meeting that its UltraTech Cement subsidiary should complete its acquisition of Jaypee Cement within the next 12 months, the Economic Times reports. The deal, which will see UltraTech acquire cement production capacity of 21.2Mta, was agreed earlier this month, despite efforts from Jaypee’s creditors that saw them co...
Pakistan: Kohat Cement new milling capacity at year-end
Kohat Cement Ltd (KOHC) says that work is going on its fourth cement mill to lift its current capacity of 105tph to take its total grinding capacity to 480tph at an estimated cost of INR650m. The mill will be operational by December 2017, says local report. The new mill will replace old technology and improve efficiency at the company's plant in Kohat, Khyber Pakhtunkhwa province. Head...
Sri Lanka: Tokyo Cement looks to US for investment backing
The chief financial officer and other members of the Tokyo Cement management team are in the US this week for an investor roadshow, Lanka Business Online reports. Mark Decker, whose brokerage firm is promoting the roadshow, said: “Tokyo Cement is an under-researched company with a dominant market position, brand equity built over three decades, and clear growth prospects in light of Sri Lan...