Corporate

31 May 2016

Philippines: Holcim Q1 revenues up 17.2%

Holcim Philippines have released trading figures for 1Q2016, revealing that revenues have increased 17.2 per cent YoY to PHP10.1bn (US$216m), reports InPR. The company attributed its good performance to higher private spending and to increased government infrastructure investment, o...

31 May 2016

Tanzania: Tanga Cement to double clinker capacity

The Tanga Cement Company Limited (TCCL) has announced plans to raise output to 1.2Mt once the new kiln line is operational at its plant in northeastern Tanzania, East African Business Week reports. Construction of...

31 May 2016

India: JK Cement annual profits down 35.3%

The Times of India reports that JK Cement’s standalone net profit for 2015-16 was down 35.3 per cent on the previous year to INR1.015bn (US$15.1m). Quarterly profits for the period ending 31 March 2016 were up slight...

31 May 2016

Arabian Cement Q1 profits drop 41%

Arabian Cement have announced a fall in earnings of 40.5 per cent in 1Q16. The company earned EGP34.1m (US$3.85m) in 1Q16, compared with the EGP57.3m (US$6.47m) in the same period last year, according to consolidat...

31 May 2016

India: Barak Cements to expand Assam grinding unit

Barak Valley Cements Ltd is considering the expansion  from 750tpd to 1000tpd (0.33Mta) of its cement grinding plant in Karimaganj, Assam, India, according to a BSE filing. The company is expected to proceed in appl...

30 May 2016

Arabian Cement profits fall 41% in 1Q 2016

Arabian Cement (Egypt) reported a 40.5 per cent fall in earnings in the first quarter of 2016. According to consolidated financial results, the company earned EGP34.15m (US$3.85m) in Q1 2016, compared with EGP57.37m...

27 May 2016

European Commission gives green light to HeidelbergCement’s Italcementi acquisition

HeidelbergCement has received clearance from the European Commission for the acquisition of Italcementi. The European authority accepts the proposed divestment of operations in Belgium, i.e. Italcementi’s local subsi...

27 May 2016

US performance gives Cementos Argos strong 1Q16

In the 1Q16 Cementos Argos reported an income of COP2.2trn (US$720.1bn), up 334 per cent compared to the same period in 2015. EBITDA ascended to COP425bn, a 38 per cent increase, while the EBITDA margin increased 6...

27 May 2016

Luxembourg: worker killed at Rumelange plant

A worker has been killed after falling into a grinder at Cimalux’s Rumelange plant, reports the Luxemburger Wort. The plant is a subsidiary of the Dyckerhoff Group, which in turn is owned by Buzzi Unicem, and prod...

27 May 2016

Romania: CRH Ciment sees profits rise 40% in 2015

The Romanian subsidiary of CRH, CRH Ciment, has released performance figures for 2015, reports Romania Insider. CRH Ciment saw turnover reach EUR189m (US$211m) in 2015, up 23 per cent YoY. Profits climbed faster s...

27 May 2016

Cemex sells its Bangladesh operations to Siam City

Cemex has closed the sale of its operations in Bangladesh and Thailand to Siam City Cement for approximately US$53m.The proceeds obtained from this transaction will be used mainly for debt reduction and for general c...

26 May 2016

Malaysia: Lafarge takes 1Q16 hit on net profits

Lafarge Malaysia Bhd is optimistic about its prospects this year despite having had a challenging 1Q16. The company's net profit fell nearly 72 per cent to US$5m in the first quarter of this year from US$17.9m in th...

26 May 2016

New Zealand: Holcim Westport works close

The closure of Holcim’s Westport cement works next month will result in a loss of jobs and profits for Westport Harbour Ltd (WHL). Holcim is Westport’s main customer, with its cement shipping generating over 80 per c...

26 May 2016

Saudi Cement to sell 40% stake in Kuwaiti firm

Saudi Cement Company announced signing a contract to sell its entire stake of 40 per cent in Group International Cement Company, a Kuwaiti closed joint stock company. The total value of the contract amounts to K...

26 May 2016

Kazakhstan: devalued tenge affects Steppe Cement

The sharp devaluation of the Kazakh tenge saw the 2015 results of Steppe Cement affected as import pressures waned. Until August 2015 local producers had to lower their selling prices to fend of imports into Kazakhst...

26 May 2016

India: HeidelbergCement 4Q FY16 margins up 16.5%

Operating margins of HeidelbergCement India jumped 18 per cent in the fourth quarter of FY16 compared to 16.5 per cent in the same period last year. Speaking to CNBC TV, said Jamshed Naval Cooper, CEO and MD of Heid...