Cement News tagged: Corporate
Grinding plant and quay berths acquired by CK Infrastructure Holdings
Cheung Kong Infrastructure Holdings has acquired a cement grinding station and three quay berths in Yun Fu city in Guangdong province, China, at CNY180m (US$28.5m). The agreement was made for the purchase with Chuang Dong Chemical Ltd. The facility covers an area of 68,000m 2 and it has cement grinding capacity of 1Mta. The three berths handle an average 3Mta, CKI said. CKI;s subsidiary Gree...
Breedon appoint deputy chairman
Breedon Group plc, the UK's largest independent construction materials group, has appointed Amit Bhatia as non-executive deputy chairman, with immediate effect. Amit joined Breedon’s Board as a non-executive director in August 2016, following the group's acquisition of Hope Construction Materials Ltd. Amitis a Director of Abicad Holding Ltd, a shareholder in Breedon, and Vice Chairman of Qu...
Carthage Cement records 25% revenue increase
Tunisia’s Carthage Cement Co has posted a 25 per cent YoY increase in revenue for the 1Q18, according to the African Manager. This result was achieved despite a halt in production from 15 March for a month, due to a dispute between the subcontracting company (NLS) and a group of workers. Elsewhere, the company's clinker production increased 126 per cent YoY during the period. This has been ...
Gharibwal Cement's profit falls in 9MFY18
Pakistan's Gharibwal Cement reported a net profit fall in 9MFY18 ended March 2018 to PKR1bn (US$8.6bn) from PKR1.70bn, (US$9.22m) earned in the same period of last financial year. Net sales increased to PKR8.51bn from PKR8.37bn during this period. GCL incurred a distribution cost of PKR17.5m against PKR20m in year ago period. The administrative expenses stood at PKR276m compared to PKR243m i...
ArcelorMittal increases Ecocem stake
Steelmaker ArcelorMittal has increased its shareholding in Ecocem France. By the end of May, ArcelorMittal will hold a 49 per cent stake in the cement company, compared to 30 per cent to date. The joint venture Ecocem France was created in 2007 by ArcelorMittal and the Irish group Ecocem Materials to develop the production of granulated blast furnace slag (GGBS), a by-product of steel manufa...
Holcim Philippines appoints John Stull as CEO
Holcim Philippines has appointed John Stull, the former chief of LafargeHolcim’s US cement operations, as its new president and CEO with immediate effect. Mr Stull will be replacing Sapna Sood, who recently resigned from her role, according to the company. "I am delighted to join Holcim Philippines at this exciting but challenging time. As the market adapts and becomes faster paced, the com...
Dangote announces CEO and Board appointments
Joe Makoju has been appointed Dangote Cement's Group Chief Executive, having taken on the role in an acting capacity at the beginning of the year. He has worked in several world-class corporations including Shell, BP, Blue Circle (UK) and WAPCO. Cherie Blair and Sir Michael (Mick) Davis have been appointed to the Board of Dangote Cement as Independent Non-Executive Directors. Cherie Blair CB...
Arabian Cement announces net loss in 1Q18
Arabian Cement has announced a 106 per cent YoY decline in net profit for the first quarter of the year, falling from SAR100.7m (US$26.85m) to a loss of SAR6.1m, according to Reuters. The Saudi Arabian cement company also recorded a 26.6 per cent fall in net sales to SAR199.7m, compared with SAR272.1m of the year-ago period.
ANCAP has stocks for four days
The cement plant owned by ANCAP in Minas, Uruguay, has only four days of stocks left, reports Esmerk Latin American News. Production was halted in February by the union on grounds that there was insufficient personnel on the ground. ANCAP’s cement division generated a loss of US$12.3m in 2017, down from a loss of US$27m the previous year. Although ANCAP still holds on to an important ma...
Prism Cement changes name to Prism Johnson
India’s Prism Cement Ltd has changed its name to Prism Johnson Ltd, effective from 18 April 2018. ''To dispel the perception that Prism Cement Limited […] is only a cement company, the name of the company has been changed to Prism Johnson. Prism Johnson is one of India's leading integrated building materials company and the new name reflects the product range and magnitude of operations of t...
ACC announces 19% net profit increase in 1Q18
India's ACC has announced a 19 per cent YoY increase in net profit to INR2.5bn (US$38m) for the 1Q18. The company has attributed this positive performance to increased volumes and net sales, despite rising costs, according to The Economic Times. EBITDA rose 18 per cent to INR4.92bn, while net sales surged 14 per cent to INR35.57bn. "A rise in energy slag prices adversely impacted operating...
Cementir appoint Board of Directors for 2018-20
Cementir's recent shareholders' meeting appointed the Board of Directors for the three-year period 2018-20. Francesco Caltagirone (Chairman), Alessandro Caltagirone, Azzurra Caltagirone, Edoardo Caltagirone, Saverio Caltagirone, Carlo Carlevaris, Fabio Corsico, Mario Delfini, Veronica De Romanis, Paolo Di Benedetto, Chiara Mancini, Roberta Neri, were elected from the majority slate submitted ...
LafargeHolcim appoints new Head of HR
LafargeHolcim has appointed Feliciano González Muñoz as the new Head of Human Resources, effective from 1 May 2018. Mr Muñoz will succeed Caroline Luscombe, who has decided to pursue opportunities outside of the company, according to the press release. The Head of HR will not be a member of the executive committee, bringing it down to eight members. Mr Muñoz is currently HR Director fo...
UltraTech commissions new plant in Manawar
UltraTech has commissioned its greenfield facility in Manawar, Madhya Pradesh, with a 2.5Mta clinker capacity. The plant has reached this stage in under a year, which is record time for a plant of this capacity, according to the press release. The kiln is designed for multi-fuel and alternative fuel usage. Alongside the kiln, the company has commissioned a 1.75Mta grinding unit and an auto-l...
Qassim Cement records fall in net profit for 1Q18
Saudi Arabia’s Qassim Cement Co has announced a 28.7 per cent YoY fall in net profit for the 1Q18, decreasing to SAR57.2m (US$15.25m) from SAR80.2m. Total sales of the company dropped 22.6 per cent to SAR147.9m, compared with SAR191.1m of the year-ago period. Elsewhere, EFG Hermes has forecast that Arabian Cement Co will post a SAR57.6m net profit for the first quarter of 2018. While Eastern ...
Fauji Cement Pakistan profits increase in 3QFY18
Fauji Cement Company Ltd (FCCL) saw a 28 per cent YoY increase in net profit to PKR854m (US$7.3m) in 3QFY18 from PKR669m, earned in same quarter last year, according the company's filing to the Pakistan Stock Exchange (PSX). Revenues remained flat at PKR5.6bn, as lower retention prices diluted the impact of growth of 11 per cent in local dispatches and 99 per cent YoY in exports. However, co...