Corporate

29 April 2016

DG Khan Cement announces INR2.29bn profit, up 16%

DG Khan Cement on Friday announced a net profit of INR2.29bn (US$34.32m) in the third quarter of fiscal year 2015-16 (3QFY16), up 16 per cent compared to INR1.98bn in the same period of the previous year. Earnings per share jumped to INR5.25 from INR4.52 last year. This took the cumu...

25 April 2016

LafargeHolcim considering Vietnam exit

LafargeHolcim Group, a joint venture between Swiss Holcim Ltd. and French Lafarge Group, may withdraw from Vietnam due to oversupply of cement in the domestic market, said Nguyen Cong Bao, general director of Holcim ...

25 April 2016

Lucky Cement land acquisition is legal

Land acquired by Lucky Cement, Pakistan, in a Buchal Kalan, Kallar Kahar, Punjab for a new cement factory has been declared legal, according to a report in The Express Tribune. Lahore High Court had stopped the Pu...

25 April 2016

Qatar National first quarter profits slip

Qatar National Cement Co. has released an interim financial statement for the three-month period ended March 31, 2016. The statements show that the net profit over the period fell by 1.6 per cent YoY, from QAR125.76m...

25 April 2016

Italcementi workers presents demands

The Italian unions Feneal Uil, Filca Cisl and Cgil Fillea representing Italcementi cement workers, have announced a strike in response to the industrial plan proposed by the government, which may result in 415 dismis...

25 April 2016

Semen Indonesia signs cost-cutting deal with Pertamina

Semen Indonesia (SI) has signed an agreement with oil and gas firm Pertamina that will see the latter provide oil for SI’s needs in production, transportation and logistics. The Jakarta Post says the deal could sa...

25 April 2016

China Resources Cement sees profits fall by 99%

China Resources Cement (CRC) has seen profits attributable to owners fall by 99 per cent to HKD6.6m (US$850,000) for the first three months of 2016 as compared to the same period in 2015. The firm's revenues fell by ...

22 April 2016

Cemex Latam Holdings SA's 1Q16 sales down 11%

Cemex Latam Holdings SA (CLH) announced today that consolidated net sales reached US$316m during the 1Q16, a decline of 11 per cent versus 1Q15. This decline is mainly explained by foreign-exchange fluctuations and l...

22 April 2016

India: Jaypee reduces northern cement supply

Debt-laden Jaiprakash Associates Ltd has withdrawn itself from some of its cement markets in north India as part of streamlining its operations even as lenders continue to prod the firm to shed assets and pare debt, ...

22 April 2016

Zimbabwe: Lafarge Cement records 2015 loss

Lafarge Cement Zimbabwe has said that expects to see a return to profitability in 2016 after recording a loss of US$1.9m in 2015. Announcing its results for the year, Lafarge blamed the economic conditions in the ...

22 April 2016

Dangote: Nigeria’s currency woes will not alter expansion plans

Dangote Cement’s annual general meeting, held in Lagos, has seen Aliko Dangote set out his plans to grow the business despite worsening economic conditions, particularly in the company’s Nigerian base. According t...

22 April 2016

India: Piramal invests US$38m in Gujarat cement company

Piramal enterprises has invested US$38.4m in Sanghi Industries, a Kutch-based cement company with 4.1Mta capacity and plans to add a further 4Mta. Earlier in the month, Sanghi exited its corporate debt restructuri...

22 April 2016

Ukraine: Yugcement reports 1Q16 losses of US$11.75m

The Yugcement company (Olshanske, Mykolaiv region) reported loss of UAH298.228m (US$11.75m) for 2015, having upped its net revenue by 14.8 per cent or UAH 80.84m YoY to UAH626.167m. As of 2015, assets of the company...

22 April 2016

Cemex's 1Q16 net sales increase 3%

Cemex has announced that its consolidated net sales reached US$3.2bn during the first quarter of 2016, an increase of three per cent on a like-for-like basis for the ongoing operations and adjusting for currency fluc...

21 April 2016

Saudi Arabia: Yamama and EPPCO announce profits, Saudi Cement rebrands

Yamama Cement and Eastern Province Cement Company have announced their first quarter earnings for 2016 with mixed results. Yamama, the larger of the two, saw its profits fall by 14 per cent YoY in 1Q2016, to US$40...

21 April 2016

USA: Cemex fined US$400,000 over negligence at Kosmos Cement

Cemex-owned Kosmos Cement has pleaded guilty to negligence over its failure to comply with health and safety standards , which contributed to the death of a contractor. The company was fined US$400,000, of which U...