Cement News tagged: Corporate
Former vice president of Cemex Colombia to appear before authorities in US
The former vice president of planning for Cemex Colombia, Édgar Ramírez, is due to appear before the FBI and a senior official of the Colombian Prosecutor's office in the USA, in relation to alleged acts of corruption by some members of the company’s leadership, according to El Tiempo. Cemex Colombia had previously released a statement noting that it had "voluntarily published the delinking ...
Cementarnica Usje reports 10% fall in net profit
Macedonia’s Cementarnica Usje has reported a 10 per cent YoY fall in its consolidated net profit to MKD777.7m (US$14.3m) for the 9M18, while operating revenue dropped three per cent to MKD3.35bn. The decline in operating revenue has been attributed to lower revenue from foreign markets in the first nine months of the year, which decreased six per cent to MKD1.1bn. Domestic sales revenue rema...
Nesher dismisses one-third of Haifa workforce
Nesher Israel Cement Enterprises laid of 20 workers at its Haifa cement plant – around a third of the site’s workforce, due to a decline in output. Israel’s largest cement producers is reportedly undergoing further downsizing with further steps expected at its Ramla works. The dismissals come in the wake of the entry of cheap cement from Turkey and Greece, which has seen Hartuv Cement come...
DG Khan Cement of Pakistan plans WHR plants in Punjab
A new waste heat recovery (WHR) plant is being planned by DG Khan Cement to reduce water consumption at its 2.11Mta Chakwal plant in Punjab, according to a report of Intermarket Securities Ltd. T he new plant would include improved technology that requires only marginal water consumption. This would avoid the technical and financial challenges of sourcing water, said the company's manag...
Ramco Cements to spend INR8.5bn on plant expansion
India’s Ramco Cements is investing INR8.5bn (US$120m) to increase capacity at its facility in Jayanthipuram, Andhra Pradesh, by 1.5Mta and construct a 27MW WHR system. The project is part of an overall expansion plan for the company. "Currently, we have cement grinding capacity of 16.5Mta, which we plan to take to 20Mta by March 2020," said A V Dharmakrishnan, CEO of Ramco Cements. The plan ...
Solid Cement borrows US$75m from related company
Solid Cement, an operating subsidiary of Cemex Holdings Philippines, is borrowing US$75m of subordinated revolving credit from Cemex Asia. The money will be used to refinance existing debt, alongside funding the construction and installation of the new 1.5Mta line at the company’s Antipolo facility. Solid Cement has made an initial drawdown on this facility equivalent to approximately US$40....
Fire put out at Martinsburg plant
Cementos Argos' Martinsburg cement plant in the USA called fire units after 15.51h yesterday after what was thought to have been an explosion on the site. The 167th National Guard along with fire engines from Martinsburg, South Berkley, Bedington, Baker Heights Washington County, and Black Creek Valley fought fires for more than two hours. The fire was under control by 18.44h, but officials d...
Al Khalij to start oil well cement production
Al Khalij Cement Company (AKCC), part of Qatari Investors Group, has announced that its Umm Bab plant will produce oil well cement (OWC) Class ‘G’ at Grade (s) HSR, having received a certification from the American Petroleum Institute (API). The API awarded AKCC a three-year licence to apply the API monogram on its products. With this certification, AKCC joins a select list of 11 companies in...
YTL Corp records 11.3% net profit decline
Malaysia’s YTL Corp saw a 11.3 per cent decrease in net profit for the 1QFY19, falling to MYR125.79m (US$30m) from MYR141.82m in the year-ago period. The decline has been attributed to lower contributions from its cement manufacturing and trading, utilities and property segments. "The outlook for the cement industry remains highly competitive among industry players and the segment is expected...
Cementos Polpaico swings into black in 9M18
Chile-based Cementos Polpaico has reported revenues of CLP121.321bn (US$ 179.8m) in January-September 2018, representing a 25.9 per cent YoY increase. In addition, the company has achieved a rise in net profits to CLP3.15bn, a considerable improvement when compared with losses of CLP2.281bn in the previous-year period. In a year, the cement producer renewed its brand image and presented ...
Dalmia Bharat looks to expand into northern India
India’s Dalmia Bharat has reportedly secured mining rights near Chittorgarh, Rajasthan, and could be planning to construct a 4Mta plant over two phases in the area, according to the Business Standard. The move would mark the company’s entry into the northern market, a region abundant with natural resources. Rajasthan has an estimated limestone reserve of 21,659mt, 12 per cent of the country’...
PPC reports 8% rise in 1H revenues
PPC posted an eight per cent increase in 1HFY18-19 revenues to ZAR5.597bn (US$403.9m) on the back of strong growth in the rest of Africa as the company’s performance in its domestic market of South Africa remains weak. Gross profit fell by 17 per cent to ZAR1.103bn in the six months ending 30 September 2018 from ZAR1.329bn in 1HFY17 while operating profit fell 34 per cent to ZAR507m. However...
Cibao opens new packing and dispatch facility
Cementos Cibao inaugurated a new packing, palletising and cement dispatch plant in Santiago, Dominican Republic on Tuesday. The plant has two complete and fully-automated packing lines, a palletising system and a covered warehouse with the capacity to store 200,000 bags of cement. "It is this principle of hard work, disciplined and with total dedication together with a vocation of service to...
Saudi Engineering Dimensions interested in Bangladesh cement sector
Saudi company Engineering Dimensions has expressed an interest to set up a modern cement factory in the Chhatak upazila of Sunamganj district, Bangladesh, according to New Nation. During a meeting with Secretary-in-Charge of the Industries Ministry, M Abdul Halim, Engineering Dimensions President, Mohammed N Hijji, said Bangladesh’s huge population, domestic demand and skilled workforce have ...
PPC CEO Claassen to retire
South-Africa-based PPC has initiated a process to find a new CEO after the incumbent, Johan Claassen, expressed an interest to take early retirement. Mr Claassen was appointed permanent CEO in February this year after serving as interim CEO for six months following the departure of Darryll Castle.
Ecocem pretax profit declines 38%
Slag cement producer Ecocem Materials Ltd reported a rise in turnover of 9.4 per cent in 2017 to EUR79.4m (US$90.5m) from EUR72.6m in the previous year. Pretax profit decreased by 37.5 per cent to EUR2.5m last year from EUR4m in 2016. Costs increased by nearly 12 per cent YoY to EUR76.5m from EUR68.6m while the company paid EUR335,000 in interest, a sharp rise when compared with EUR147,821m ...