Corporate
Holcim Philippines to tap debt market
Holcim Philippines is considering the debt market to fund its new US$450-550m cement plant in Norzagaray, Bulacan, the company's chief has said. Speaking to local press, Eduardo Sahagun, president and CEO, said that part of the funds to construct a 2.5Mta plant will come from intern...
San Miguel Corp outlines expansion plans, Philippines
Industrial conglomerate San Miguel Corp (SMC) will spend US$750m to increase production and expand Northern Cement Corp's (NCC) exisiting capacity and construct new facilities. According to SMC company’s president...
Gharibwal Cement sees strong rise in quarterly profit, Pakistan
Pakistan-based cement producer Gharibwal Cement Ltd reported a net profit of the company was PKR178m compared to PKR32.5m for the same period last year, thanks to an increase in sales volumes, net retention prices an...
OCC confirms imported cement quality probe, Oman
Oman Cement Company (OCC) has confirmed that the country's Public Authority for Consumer Protection (PACP) has initiated an investigation on the quality of 30,000t of cement imported by the sultanate's second-largest...
Holcim Apasco to be renamed
Holcim Apasco is to be renamed Holcim México in order to unify the "brand and strengthen its presence as a global leader in the Mexican market," Holcim Latinoamérica's CEO Andreas Leu was quoted as saying by local pu...
Lafarge Malayan Cement 1Q13 revenues edge ahead
Lafarge Malayan Cement reported a YoY slight rise in consolidated revenue for the first quarter of 2013 but income from its cement division was impacted by a tough pricing environment. Its 2013 results are expected t...
Morocco’s cement demand falls 16.5% in first four months
During the first four months of the year, cement demand in Morocco fell by 16.5 per cent from 6Mt to just under 5Mt as the start of the year was affected by heavy rainfall, according to the country’s cement associati...
Hail Cement increases quarterly net loss, Saudi Arabia
Saudi cement producer Hail Cement Co has reported a net loss of SAR13.9m (US$3.7m) for the first quarter of 2013, double the loss recorded in the same period a year ago of SAR6.3m. The company attributed the loss to...
Reliance Infrastructure second plant set for September commissioning
Reliance Infrastructure is planning to commission its second cement plant by September this year. The new unit, which will have an annual capacity of 5Mt is being constructed in Maihar, Madhya Pradesh. Speaking...
HeidelbergCement India sells grinding unit to JSW Group
HeidelbergCement India has sold its 0.6Mta grinding facility in Raigad, Maharashtra, to the JSW Group, the company has informed the Bombay Stock Exchange. The acquisition is situated adjacent to the company’s steel ...
India Cement's net profit hit by rising production and transportation costs
Rising production costs and subdued demand in the southern markets has resulted in India Cements reporting a 31 per cent decline in FY13 net profit. Net profits (consolidated) fell to INR178.62 crore for the fiscal,...
Peruvian dispatches see double-digit gains
Total cement dispatches by members of Peruvian cement association Asocem reached 3,345,226t in the first four months of this year, rising 12.42 per cent YoY. Domestic dispatches during the period amounted to 3,276...
Eastern Province net profit rises 4.8% YoY
Eastern Province Cement Company (EPCC) posted a 4.8 per cent rise in net profit for the first quarter of 2013, which the company attributed the increase to a better performance at one of its affiliate companies. F...
EU construction output falls in March
Construction output in the EU27 fell by 1.7 per cent in the euro area and 1.1 per cent in March 2013, compared with the previous month, according to first estimates released by Eurostat, the statistical office of the...
HeidelbergCement to sell stake in Indian unity to private equity investors?
HeidelbergCement is reported to be in talks with private equity investors to sell a minority stake in its Indian arm, which could result in the second such deal in the domestic sector in recent weeks. Speculation i...
PPC to construct new plant in Democratic Republic of Congo
PPC has announced plans to construct a 1Mta cement factory in the Democratic Republic of Congo, as part of the company’s plans to increase revenue streams outside South Africa to 40 per cent by 2016. The company i...