Cement News tagged: Corporate
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...
Phinma Corp will bring panamax vessels to Mariveles Terminal
The Phinma group will invest PHP500-700m (US$9.5-13.4m) on its Bataan cement terminal in Philippines. The Mariveles cement terminal will be ideal for large panamax vessels and is set from completion in May 2019. "In the meantime, we're already beginning to import," said Phinma Corporation president and CEO, Ramon Del Rosario Jr. "I think we already brought in the first four shipments of two...
Pakistan's Popular Group has reportedly purchased Dadabhoy Cement
Pakistan’s Popular Group of Industries has reportedly purchased Dadabhoy Cement Industries Ltd. The company’s plant in Dadu District, Sindh Province, has been closed for several years following the alleged default of local financial institutions. Although the sale is yet to be made public, local news reports suggest that Popular Group has started refurbishing the plant. Dadabhoy Cement had pr...
Breedon enters agreement to acquire Lagan Group (Holdings) Ltd
Breedon Group Plc has entered into a conditional agreement to acquire Lagan Group (Holdings) Ltd (Lagan), a leading Belfast-based construction materials business, for a cash consideration of GBP455m on a cash- and debt-free basis. The consideration will be financed by a combination of a new GBP150m term loan, a new GBP350m revolving credit facility which replaces Breedon's existing GBP300m r...
Attock Cement Pakistan profit falls in 3QFY 18
Attock Cement Pakistan Ltd (ACPL) 3QFY18 financial results saw a decline in net profit to PKR674m (US$5.8m) from PKR860m (US$7.41m), earned in same quarter last year. This represents a profit fall by 22 per cent YoY. Its net sales increased to PKR4.57bn from PKR4.01bn during this period. The company incurred a distribution cost of PKR271m against PKR219m in 3QFY17. The administrative expens...
Tajikistan records 84% increase in cement production
Tajikistan has recorded an 83.5 per cent YoY increase in cement production in the first quarter of this year, rising to 782,400t from 426,400t. The production of cement in 2018 is expected to improve upon the previous year due to new infrastructure projects, increasing exports, and planned residential housing construction, according to Business World. The country’s main export markets are Uz...
Yamama Cement announces 53% profit fall in the 1Q18
Saudi Arabia-based Yamama Cement Co has announced a 53 per cent YoY fall in profit to SAR23.8m (US$6.35m) in the 1Q18. The producer attributed the decrease in profit to a drop in demand and a decline in other revenues, according to its statement to the Saudi Stock Exchange. However, Yamama Cement’s profit was a 40.7 per cent increase upon the result of the previous quarter.
East Africa Portland Cement Co suffers operational issues
East African Portland Cement Company (EAPCC) has experienced operational challenges over the last two months, according to The East African. Amongst the issues faced by the company was a production halt, salary delay and a low supply of cement stock. This follows its net loss widening by almost four times to US$9.6m in the 2H17, as a result of low revenues. The results for the full-year per...
Dyckerhoff Cement Ukraine posts UAH316m loss in 2017
PJSC Dyckerhoff Cement Ukraine reported a net loss of UAH316m (US$12.01m) in 2017, according to Interfax. Compared with 2016, the uncovered loss reached UAH1.34bn, which represents a 53 per cent increase YoY. Total debtor indebtedness rose by 14 per cent YoY to UAH106.7m, long-term liabilities by 11 per cent to UAH1.8bn, current liabilities more than halved, to UAH407m. However, the company...
Raysut Cement records 8% increase in revenue
Oman’s Raysut Cement Co has announced a 8.2 per cent YoY increase in revenue for the first quarter of the financial year, to OMR21m (US$54.62m) from OMR19.4m. However, total profit attributable to shareholders has fallen 85 per cent to OMR450,149, compared to OMR3.1m of the year-ago period. While sales volumes increased approximately 32 per cent during the period, a lower sales realisation ad...
East African Portland Cement Co to build inland container depot
East African Portland Cement Co wants to establish an inland container depot in Athi River to deliver imported raw materials to its plant via the standard-gauge railway. Managing Director. Simon Peter Ole Nkeri. said the move could ease costs of finished products and make Kenya-made goods affordable in east Africa and competitive on the global stage. "We heavily rely on imported raw mater...