Cement News tagged: Corporate
Macedonia: Cementarnica Usje non-cons net profit falls 5% in 2016
Macedonia’s Cementarnica Usje, a subsidiary of Greece-based cement producer Titan, saw a five per cent YoY decrease in its non-consolidated net profit to MKD1.2bn (US$20.7m) in 2016 as a result of higher production costs. Non-consolidated operating expenses increased four per cent YoY to MKD3.14bn while operating revenue remained stable at MKD4.43bn. Operating profits fell six per cent to M...
India: Government to sell non-operational CCI units
The government of India has announced that it plans to sell off five non-operational units of the Cement Corporation of India (CCI) as the first step towards complete divestment of the company, the Times of India reports. "As far as CCI is concerned, non-operating units of CCI are to be disinvested first as a part of strategic disinvestment of CCI," Minister of State for Heavy Industries an...
Holcim Philippines, Robinson Land sign cement supply contract
Holcim Philippines will support the expansion of the Philippines’ leading real estate developer, Robinsons Land Corp (RLC) as it provides cement to 44 projects to be built by RLC by 2019. The cement producer will supply 19m bags of its general purpose cement Excel, masonry cement Wallright and high-performance infrastructure cement 4X for the construction of RLC projects such as office and...
Saudi Arabia: Northern Region Cement Co appoints new board top
Saudi Arabia’s Northern Region Cement Co has appointed Sulaiman bin Salim Al-Harbi as the Board's chairman. The board also assigned the role of the deputy chairman to Raed Ibrahaim Al Mudieheem, according to a bourse filing on Wednesday. The company said that the board's new session will start on 16 March and last for three years, ending on 15 March 2020.
HeidelbergCement sees 13% revenue rise in 2016
HeidelbergCement saw revenues rise by 13 per cent to EUR15.2bn in 2016 and completed a successful acquisition of Italcementi with synergies increased to EUR470m. "2016 was an exceptional year for HeidelbergCement," states Dr Bernd Scheifele, chairman of the managing board of HeidelbergCement. "With the successful takeover of Italcementi, we have accelerated our growth and are now in an exce...
Kenya: Bamburi appoints three women to all-male board
Bamburi Cement has appointed three women as directors to its previously all-male board. Appointees include former Kenya Revenue Authority (KRA) Commissioner for Domestic Taxes, Alice Owuor, Rita Kavashe, chief executive of General Motors East Africa (GMEA) and Equity Group Foundation’s managing director, Dr Hellen Gichohi. The female directors now represent 30 per cent of the cement manu...
Cemex retains 9.5% of GCC
Cemex SAB de CV said that some of its underwriters did not exercise their over-allotment option to acquire shares in Mexico’s Grupo Cementos de Chihuahua SAB de CV. As a result, Cemex retains a direct stake of 9.47 per cent in GCC. Originally, Cemex aimed at offloading 23 per cent of GCC but only managed to sell a stake of 15.6 per cent, equivalent to 51.75m shares at MXN95 (US$4.83)/share....
UK: Hanson to develop Victoria Deep Water Terminal
Hanson (HeidelbergCement group) is planning to invest GBP12m at its Victoria Deep Water Terminal (VDWT) on the Thames at Greenwich, UK, to upgrade and improve the site. A planning application has been submitted to the Royal Borough of Greenwich along with a full environmental impact assessment. Hanson is proposing to replace two existing concrete batching plants with three new ones enclosed ...
South Africa: rain dampens PPC Jan-Feb sales
PPC announced that adverse weather had negatively affected its cement and concrete sales in South Africa during January and February 2017. Rainfall in excess of 200mm was experienced in many parts of the country during these two months. The cement manufacturer said it managed to reduce net debt to ZAR4.4bn (US$333.13m) as of December 2016 due to the conclusion of a component of the first em...
Pakistan: Lucky Cement inaugurates WHR plant
Lucky Cement has inaugurated its 10MW fifth Waste Heat Recovery (WHR) power plant in Pezu, Khyber Pakhtunkhwa, Pakistan, on 15 February 2017. The fifth power plant, in collaboration with China-based Sinoma Energy Conservation Ltd became operational last month. Under this project, two 2400tpd cement production lines were used, which will provide sufficient heat for an installed power of 1...
Pakistan: Flying Cement to double capacity
Flying Cement Company Ltd (FCCL) has informed the Pakistan Stock Exchange (PSX) that it has signed an agreement with a Chinese company for the procurement of plant and machinery to be installed at the cement producer's existing plant site in Mangowal, Khushab district, Punjab province. The new equipment will upgrade the works' current cement capacity of 2000tpd to 4000tpd. The financial re...
HeidelbergCement Ukraine reduces loss by 56% in 2017
HeidelbergCement Ukraine reduced its loss by 55.6 per cent to -UAH289.17m (US$ 10.76m) from -UAH361.73m in 2016, according to a company statement. This follows a 62.7 per cent increase in losses in 2015 to -UAH650.9m. The company has operated in the Ukrainian market since 2001 with cement factories in Kryvyi Rih and Kamianske, Dnipropetovsk region and Novoamvrosiivske and Yenakieve, ...
Zimbabwe: SZCC request title deeds from Gov
Sino Zimbabwe Cement Company (SZCC) has requested the title deeds for Indiva Farm, where the company is located, be transferred to them by the Government. Located 33km east of Gweru, Indiva Farm is regarded as State land and the absence of title deeds held by SZCC has resulted in the company failing to access lines of credit due to lack of collateral. Wang Yong, SZCC managing director, said...
CRH's regional businesses push group sales up in 2016
CRH recorded sales of EUR27.1bn in 2016, 15 per cent up on 2015. Divestments and disposals generated total profits of EUR55m, boosting group revenues in several regions. The UK, Ireland and Spain delivered strong cement volumes for the group and white cement sales were up 18 per cent in Ireland, although domestic prices were constrained with overcapacity. While cement and ready-mix vol...
Sri Lanka: new CEO for Siam City Cement Lanka
Nandana Ekanayake will assume duties as CEO of Siam City Cement Lanka Ltd as of 14 Match. Prior to joining Siam City Cement, Mr Ekanayake has held positions of Finance Director of Holcim (Vietnam) and Finance Vice President of Holcim Lanka Ltd.
Kenya: Bamburi Cement profits flat for 2016
LafargeHolcim subsidiary Bamburi Cement earned KES5.89bn (US$57.4m) in after tax profits in 2016, up just 0.3 per cent on the previous year, reports the Star newspaper. The company stressed that operating profits had shown a more robust performance, rising by eight per cent to KES7.9bn. Turnover was down 2.9 per cent, but production costs fell faster, dropping by seven per cent to KES24....