Cement News tagged: Corporate
Buzzi Unicem hit by poor weather and early Holy Week
Buzzi Unicem's first-quarter turnover declined by 8.4 per cent to EUR539.1m as a harsh winter took its toll in many countries. Net debt at the end of March was 3.9 per cent higher at EUR896.2m, while capital expenditure was increased by 6.3 per cent to EUR52.3m. Cement deliveries eased by 1.6 per cent to 5.1Mt, while group ready-mixed concrete deliveries declined by 6.3 per cent to 2.4Mm³. ...
Cementir suffers 1Q18 weather effects
Cementir's first-quarter turnover declined by 13.4 per cent to EUR242.3m, while adjusting for the Italian operations disposed of, the reduction was a more modest 1.6 per cent. EBITDA improved by 4.7 per cent to EUR24.1m, while at the trading level there was a swing from a EUR0.95m loss to a EUR6.31m profit. Helped by the interest line turning positive, the pretax result went from a EUR6.18m lo...
Siwertell AB under new ownership
In a new agreement Cargotec and JCE Invest AB have established a new joint venture, Bruks Siwertell Group (BSG), specialised in dry bulk handling. BSG will own Siwertell AB, which was previously part of Kalmar Business Area within Cargotec, and BRUKS Holding AB, previously part of JCE Group. Both companies are world-leading suppliers of bulk materials handling solutions. Cargotec will own 4...
CNBM appoints new board members
Song Zhiping, chairman of the board of China National Building Material Co Ltd (CNBM), as well as Guo Chaomin and Xu Weibing, both directors of the board will step down from the board with effect from 13 June 2018, when the company’s annual general meeting takes place. The board of directors has thanked both directors for their service to the company. Resolutions for approval at the AGM have...
Sumitomo Osaka Cement sees 4% revenue rise in FY17-18
Japan-based Sumitomo Osaka Cement Co reported a 4.4 per cent rise in group revenues to JPY244.93bn (US$2.23bn) for FY17-18 ending March 2018 from JPY234.06bn in the previous financial year. Operating profit fell -11.8 per cent from JPY21.53bn in FY16-17 to JPY18.99bn in FY17-18 while pretax profit slipped 9.6 per cent to JPY20.15bn from JPY22.63bn in the same period. The company’s net profi...
Taiheiyo Cement reports 9% revenue increase
Taiheiyo Cement has seen its revenues advance by 9.1 per cent to JPY871.11bn in FY17-18 from JPY798.59bn in the previous financial year. The company’s operating profit rose three per cent from JPY63.24bn to JPY65.13bn over the same period while pretax profit increased 7.6 per cent from JPY59.8bn to JPY64.37bn. Net profit dropped 19.1 per cent to JPY38.53bn in FY17-18 from JPY47.6bn the prev...
Sino-Zimbabwe awaits public infrastructure project pick-up
Sino-Zimbabwe Cement Co (SZCC) is hanging hopes on development deals between Zimbabwe and China to improve its turnover. The joint venture between China and Zimbabwe's government has had to battle declining sales and a slowdown in the construction industry. SZCC's managing director, Yong Wang, said: "The company is operating between 50-70 per cent capacity utilisation," which was likely to ...
Hsing Ta reports 13% rise in April revenues
Taiwan’s Hsing Ta Cement announced a 13.2 per cent increase in revenues to TWD545,209,000 in April 2018 from TWD481,754,000t in April 2017, according to information from the Taiwan Stock Exchange. For the first four months of 2018, revenues were 10.7 per cent higher at TWD1,606,589,000, from 1,451,756,000t in the year-ago period.
Star Cement receives government subsidies to reduce debt
Star Cement has received INR2bn (US$29.7m) towards a subsidies claim from the central government. The company intends to use the amount to further reduce its debt. Earlier in April company had received IN800m (US$11.8m) of subsidies and also used it for debt reduction. The total debt for the company following the payment of INR800m is expected at INR3200m, including long-term and short-term ...
Asia contributes strongly to HeidelbergCement 1Q18 results
HeidelbergCement's 1Q18 results saw sales volumes in Europe and North America impaired by a long winter and a reduced number of working days, but some emerging countries recorded considerable increases. Declining sales volumes in Europe and North America were more than offset by significant growth in Asia-Pacific and Africa-Eastern Mediterranean Basin, reports HeidelbergCement. During the fi...
Loma Negra reports 1Q YoY results growth
Argentina-based producer Loma Negra reported a 41.6 per cent rise in net revenues in the first quarter of 2018 to ARS4534m (US$230m) as the company’s combined cement, masonry and lime sales volumes in Argentina increased 9.5 per cent YoY and prices were favourable. Adjusted EBITDA advanced 40.6 per cent YoY to ARS1166m although the EBITDA margin remained flat at 25.7 per cent. In additio...
Asamer Baustoffe seeks buyout bid for Fabrika Cementa Lukavac
Austria's Asamer Baustoffe is launching a buyout bid for Bosnia-Herzegovina-based Fabrika Cementa Lukavac, following a notice posted with the Sarajevo bourse on Tuesday, reports SeeNews. Asamer Baustoffe AG currently holds a 99.3 per cent in Fabrika Cementa Lukavac, while the remainder is in the hands of physical entities.
Martin Marietta reports a weak Q1 on lower volumes
Martin Marietta Materials, which last month completed its acquisition of Bluegrass, then the largest privately-held US aggregates company, has announced a first-quarter turnover five per cent below the comparable period last year at US$802m, while EBITDA showed a 16.5 per cent reduction to US$123.3m. The trading profit declined from US$77.2m to US$39.1m, a 49.4 per cent fall. After a net inter...
SMT Shipping and CSL Group announce shipping joint venture
SMT Shipping (SMT) and The CSL Group (CSL) have announced an agreement for CSL to acquire 50 per cent of Eureka Shipping Ltd, SMT's pneumatic cement vessel business. The new joint venture will allow Eureka and CSL to combine expertise, resources and innovative technologies to expand services to customers in the seaborne cement powder and fly ash transportation markets around the world. CSL's ...
LafargeHolcim Bangladesh launches a new cement for plastering
LafargeHolcim Bangladesh is launching a new specialised cement for plastering called Plastercrete. Plastercrete has been carefully tested to ensure quality and meet customers' particular needs. It covers a larger surface area using less cement, resulting in significant cost savings for customers, said LafargeHolcim's spokesperson. "It would be only for plastering and different from others ava...
Fauji Cement 9M net profits total PKR2.12bn
According to Board of Directors report of Fauji Cement Co Ltd (FCCL), during the nine-month period ended 31 March 2018, it earned a net profit of PKR2.12bn (US$18.36m) as compared to PKR1.972bn (US$17m) in the same period last year. FCCL achieved capacity utilisation of 98 per cent, compared to 87 per cent in the corresponding period of the last year. FCCL's local dispatches stood at 2.328...