Cement Industry News tagged under: Corporate

19 April 2017

Fauji Cement 9M net profit down 54%

Pakistan producer Fauji Cement Company Ltd (FCCL) reported a 54 per cent drop in net profit for the first nine months of the current fiscal to PKR1.972bn (US$18.8m). Nabeel Khursheed, analyst at Topline Securities, said gross margins were down considerably to 21 per cent due to the p...

18 April 2017

Mitsubishi Materials withdraws from China market

Mitsubishi Cement plans to pull out of the Chinese cement market as tighter environmental regulations take their toll and the supply glut hurts the company’s profitability, according to Nikkei Report. The Japanese...

18 April 2017

Oman: Raysut Cement gross profit falls 39% in 1Q17

Raysut Cement posted a 38.7 per cent decline in gross profits in 1Q17 as profits reached OMR6.29m (US$16.3m), down from OMR10.26m in 1Q16, according to the company’s statement to the Muscat Securities Market. Reve...

18 April 2017

Nigeria: Ashaka Cement sees 27% profit drop in 2016

In its audited results Ashaka Cement reported revenues slipping to NGN17.351bn (US$56.8m) in 2016 from NGN17.145bn the previous year. Profit before tax fell from NGN3.209bn in 2015 to NGN2.663bn in 2016. Profit af...

Cemex divests of its Pacific Northwest Materials business in the US 18 April 2017

Cemex divests of its Pacific Northwest Materials business in the US

Cemex announced that one of its subsidiaries in the US has signed a definitive agreement for the sale of its Pacific Northwest Materials Business to Cadman Materials Inc, a LehighHanson company and US subsidiary of H...

18 April 2017

UAE: Fujairah Cement to pay AED 21.35m dividends

UAE-based Fujairah Cement Industries Co on Thursday approved the recommendation of distributing six per cent of the capital as cash dividends for fiscal year 2016. The company will pay a total of AED21.35m (US$5.81...

India: Sagar Cements to invest another INR280m in power projects 13 April 2017

India: Sagar Cements to invest another INR280m in power projects

Sagar Cements has announced that it is to invest a further INR280m (US$4.35m) to complete the construction of a captive power plant and finance a new solar project, according to reports in the Hindu. The extra mon...

13 April 2017

China Shanshui Cement wins injunction in ongoing dispute

Shanshui Cement has obtained an injunction from a Hong Kong court that prevents former executives from removing assets worth up to CNY142m (US$20.6m) from Hong Kong and posing as directors or officers company, Reuter...

12 April 2017

BBMG expects 1Q net profit to increase to CNY380-450m

China-based BBMG Corporation said it expects to achieve a net profit attributable to shareholders of CNY380m-450m (US$55m-65m) for the first quarter ended 31 March 2017, an increase from the CNY151m (US$21.9m) record...

11 April 2017

US Concrete acquires aggregates operation in New Jersey

US Concrete Inc announced yesterday that it has strengthened its aggregates capacity and ability to supply its New York City ready-mixed concrete operations by acquiring the assets of Corbett Aggregates Companies LLC...

11 April 2017

Patrick Kron to be elected to LafargeHolcim board

LafargeHolcim will propose the election of Patrick Kron as a board member to its general meeting on 3 May. "We are delighted to be able to nominate Patrick Kron, who is an experienced management personality with e...

11 April 2017

Adebajo resigns as executive director of Lafarge Africa Plc

Adepeju Adebajo has resigned as an executive director of Lafarge Africa Plc, the company's board of directors announced. Prior to her resignation, Mrs Adebajo was managing director, Wapco Operations and then managi...

12 April 2017

Pakistan: Bestway Cement shelves plans to acquire Dewan Cement

Bestway Cement has announced it has shelved plans to acquire the North plant of Dewan Cement in Pakistan. “As a result of delay and uncertainty resulting from recent legal proceedings initiated in the Sindh High Co...

12 April 2017

IFC considering equity injection in Myanmar cement plant expansion project

The International Finance Corp (IFC) is considering an equity injection into the brownfield expansion of Shwe Taung Cement Co's cement plant at Pyi Nyaung village, Myanmar . Shwe Taung Cement is part of a local cong...

10 April 2017

China Shanshui Cement says some properties of unit "illegally occupied" by Jingtian

China Shanshui Cement today informed its shareholders that some properties of its Shandong Shanshui Cement Group unit were "illegally occupied" by Mi Jingtian, the former deputy general manager of Shandong Shanshui a...

11 April 2017

Croatia: EC prevents Cemex Croatian sale

Cemex SAB de CV has announced that the European Commission has refused Cemex permission to sell its Croation operations to Duna-Drava Cement Kft, a joint venture owned by HeidelbergCement and Schenk Zement AG. There...