Cement News: Corporate

01 December 2016

Malaysia: CMS Cement division sees 14% drop in 9M16 pretax profits

Malaysia’s Cahya Mata Sarawak Bhd (CMS) reported a total revenue of MYR1.10bn and a pretax profit of MYR160.41m in the first nine months of 2016, down 14 and 40 per cent YoY, respectively. The group’s cement division recorded a pretax profit of MYR76.98m, a decrease of 14 per cent Y...

02 December 2016

Cementos Moctezuma completes second line at Apazapan

Cementos Molins and Buzzi Unicem's Mexican joint venture, Cementos Moctezuma, announced that construction of the second production line at its Apazapan plant in Veracruz state has now been completed. The new line ...

01 December 2016

Mexico: Cemex prepays 2017 maturity in credit agreement

Cemex has prepaid US$373m, corresponding to the September 2017 amortisation under the facilities agreement of 29 September 2014. Some US$664m of currently-funded commitments maturing in 2018 have now been exchanged...

01 December 2016

HeidelbergCement completes sale of US assets to Cementos Argos

HeidelbergCement has completed the US$660m sale of the Martinsburg cement plant and eight terminals to Cementos Argos. HeidelbergCement had been required to sell the West Virginia plant to comply with regulators f...

Kazakhstan: Steppe Cement refinances US$15m loans 01 December 2016

Kazakhstan: Steppe Cement refinances US$15m loans

Steppe Cement has announced that it has refinanced two loans worth a combined US$15.3m, StockMarketWire reports. A loan of US$5.5m due this month has split into three tranches, the last of which now falls due in N...

30 November 2016

Tanzania: rising costs bring Dangote plant to a standstill

Production at Dangote’s Mtwara plant in Tanzania was brought to a halt last week as the company has found itself embroiled in a political battle over the payment of incentives by the Tanzanian government, the Citizen...

Chile: Cementos Bío-Bío sees 8.6% profit slip in 9M2016 30 November 2016

Chile: Cementos Bío-Bío sees 8.6% profit slip in 9M2016

Chilean cement producer Cementos Bío-Bío reported a 3.3 per cent rise in profits to CLP221.5bn (US$329m) in the January-September 2016 period from CLP214.5bn in 10M15. However, a rise in the cost of sales and fina...

30 November 2016

Sinai Cement swings into EGP7.7m 3Q profit

Egypt’s Sinai Cement reported a profit of EGP7.65m in 3Q16 vs a 3Q15 loss of 24.47m. In the first nine months of 2016, the company turned a profit of EGP23.02m (US$426,111), a significantly better result than the ...

01 December 2016

HeidelbergCement issues EUR1bn

HeidelbergCement has priced a Eurobond issue under its EUR10bn EMTN programme with an issuance volume of EUR1bn and a maturity date of 7 February 2025. Demand was very high and the bond was oversubscribed several tim...

01 December 2016

India Cements receives stay on CCI fine

India Cements received a stay order following its appeal of the decision made by the Competition Commission of India (CCI) to impose a INR1.87m fine on it for unfair pricing practices. On 31 August, CCI imposed penal...

29 November 2016

Canada: McInnis Cement appoints new President and CEO

Hervé Mallet jhas been appointed as the new President and CEO of McInnes Cement. Mr Mallet has considerable experience in sales, marketing and operations and is a graduate of the University of Wolverhampton and Brune...

01 December 2016

Pakistan: Dewan Cement to sell its North cement plant

Dewan Cement Ltd has appointed Next Capital Ltd as the financial advisor for sale of its North cement plant, Kamilpur, near Hattar in Khyber Pakhtunkhwa, Pakistan. Next Capital Ltd will explore the possibility of...

25 November 2016

Canada: first shipment at McInnis Cement

McInnis Cement has taken delivery of its first shipment of raw materials for its 2.5Mta Port-Daniel-Gascon plant. The vessel Algoma Mariner delivered to the Port-Daniel terminal, Canada, 19,000t of gypsum from Nation...

25 November 2016

Morocco: Cemos announces plans for Tarfaya plant

Morocco’s Challenger magazine has reported that Jersey-based Cemos Group plans to construct a MAD3bn (US$296m) cement plant in Tarfaya in the country’s southwest. The 1.6Mta integrated plant will utilise local dep...

25 November 2016

HeidelbergCement submits EIA for Kaspi

HeidelbergCement has submitted an environmental impact assessment for its US$100m Kaspi modernisation in Georgia. The report will be discussed on 17 January 2017 after interested entities have submitted their comment...

25 November 2016

Pakistan: Kohat Cement Co sees 5% profit rise in 1QFY17

Kohat Cement Company Ltd (KOHC) has recently announced its 1QFY17 financial result. It declared a profit after tax (PAT) of PKR991.8m during 1QFY17 against a PAT of PKR945.7m during 1QFY16, up five per cent YoY. As a...