Cement News tagged: Corporate
Saudi Arabia: Yamama Cement mothballs five clinker lines
In an announcement to the Saudi Arabian stock exchange, Yamama Cement has said that it will temporarily close five clinker production lines with a combined capacity of 5600tpd. The company said that current market market conditions had led to a rise in clinker stocks throughout the sector in Saudi Arabia and for this reason the firm had decided to suspend production at its oldest facilities.
Eagle Materials improves profit by 44 per cent
Including its share of the jointly-owned Texas Lehigh Cement, the turnover of Eagle Materials for the first nine months to 31 December 2016 increased by 3.7 per cent to US$1.01bn. The trading profit before corporate overheads showed a strong recovery and rose by 37.5 per cent to US$283.9m, of which cement contributed 44.9 per cent compared with 56.2 per cent a year earlier. The group tradi...
Uganda: Hima Cement begins construction of Tororo grinding station
Hima Cement has begun work on a US$40m grinding station in the Tororo district of eastern Uganda, The Observer reports. The 1Mta plant is being built in a region that already plays host to Tororo Cement. During the groundbreaking ceremony, Hima’s CEO, Daniel Pettersson, said that the availability of limestone deposits had drawn his firm to the Tororo region. “We have enough for [approxim...
CIMAT posts revenues down by a quarter for 2016
Ciment de l’Atlas (CIMAT) expects to report revenues of MAD2.16bn (US$215.7m) in 2016, compared with MAD2.67bn the year prior. The company attributes the drop to the deceleration of export sales. Net profit in 2016 reached MAD519m. For 2017 the company forecasts revenues to slip to MAD2.159bn with a net profit of MAD526m. CIMAT envisages a broad geographic presence by exten...
Cemex's subsidiary announces successful takeover bid for TCL
Cemex SAB de CV has announced that its indirect subsidiary, Sierra Trading (Sierra), having received the Foreign Investment License from the Trinidad and Tobago Ministry of Finance, disclosed that all terms and conditions of the offer made, to acquire up to 132,616,942 ordinary shares for TT$5.07 (US$0.76) in cash per share in Trinidad Cement Ltd have been complied with. "We are satisfied wi...
Russia: Sibirsky Cement reports 17% drop in output
Production at the Russian cement company Sibirsky Cement fell 17 per cent YoY to 3.169Mt in 2016, said the company in a statement. The company attributed to declining sales to contracting domestic demand. Sibirsky expects demand for cement to fall 8-10 per cent to 4.7-4.8Mt in 2017. Output at Topkinsky Cement, Kemerovo region, declined 22 per cent YoY to 2.15Mt in 2016 while Krasnoyarsk...
Pakistan: Cherat plans third production line
Pakistan cement producer Cherat Cement Company has disclosed that it will undertake another expansion of some 2.34Mta (7100tpd) at its existing site of Nowshera, Khyber-Pakhtunkhwa, in north of the country. Azam Faruque, Cherat Cement's CEO has informed Pakistan Stock Exchange (PSX) that it would take its total cement capacity to around 4.64Mta. The Board of Directors has authorised th...
Lithuania: Akmenes largely offsets decline in Russia exports
Preliminary data show that Lithuania’s Akmenes Cementas posted EUR51m in total revenue, down by EUR4.4m on 2015. Around 60 per cent of this revenue was generated in the domestic market, a further 20 per cent in other Baltic states and Belarus while the balance came from sales in Nordic countries. Exports to Russia’s exclave of Kaliningrad used to account for around 30 per cent of its annu...
Nigeria: Aliko Dangote rewards domestic cement distributors
Dangote Cement Plc has rewarded its distributors with NGN2.4bn (US$7.8m) as sales bonus and for their continuous loyalty. Another NGN5bn has been set aside to assist the distributors in enhancing their sales. Chairman, Aliko Dangote, gave out the cheques ranging from NGN30m to NGN182.9m to distributors at a ceremony in Lagos at the weekend. He hailed them for their long-standing commitmen...
Taiwan Cement President passes away
Leslie Cheng-yun Koo, chairman and president of the Taiwan Cement Corporation, died Monday, 23 January after sustaining critical injuries in a fall on Saturday. Mr Koo (62) was rushed to a hospital on Saturday after falling down a flight of stairs in the Regent Taipei, where he was attending a wedding banquet. He was taken to hospital for emergency treatment, where he remained in an intensi...
UltraTech Q3FY17 reports post-tax profit up 5%
UltraTech Cement reported a 4.7 per cent rise in consolidated net profit at INR59.39bn (US$871.6m) for the quarter ended 31 December 2016 due to lower expenses. In 3Q15 company, owned by Aditya Birla Group, recorded net profits of INR56.67bn. Consolidated total income from operations fell to 67.61bn from INR68.65bn in the same period. Profit before interest, depreciation and tax was INR12.8...
Dangote Ghana’s biggest taxpayer of 2016
The Ghana Revenue Authority has recognised Dangote Cement as being the single largest taxpaying entity in the country, Business Ghana reports. The firm paid taxes and duties totalling GHS150m (US$35.5m) over the past year. “The payment of our taxes demonstrates our commitment to making a significant contribution to the growth of Ghana’s economy. We are looking at continuing this feat in ...
Najran 4Q16 profit falls 73%
Najran Cement reported a fall in profits of 72.55 per cent to SAR14.76m (US$3.93m) in 4Q16 from SAR53.73m in 4Q15. The company attributed the lower profit to reduced sales volumes due to slowing construction activity and an increase in energy prices. Najran Cement's full-year profits reached SAR124.81m, down 51.2 per cent from SAR255.62m reported in 2015.
Semen Indonesia halts Rembang construction
Semen Indonesia has halted the construction of its plant in Rembang, Central Java, following the provincial government's revocation of the plant's environmental licence on 16 January. The company said it has complied with the government ruling despite having completed nearly 99 per cent of the plant. It is taking steps to submit certain required documents, such as an environmental impact an...
Pakistan: Pioneer Cement inaugurates WHR unit at Chenki plant
Pioneer Cement has marked the formal coming into operation of the new waste heat recovery plant at its Chenki plant by celebrating the firm’s environmental credentials. Writing in the Business Recorder, Pioneer notes that the facility’s conversion to coal has increased emissions, but that this has been countered by greater efficiency. “I take this opportunity to convey my appreciation an...
Maple Leaf Cement to raise cement capacity
Maple Leaf Cement Factory Ltd (MLCF) was in the news this week when FLSmidth announced it had secured an EPC contract for a new 7300tpd third line at Daud Khel in Iskanderabad, Mianwali, Pakistan, which will be completed before the end of 2018. The brownfield project is an expansion that is estimated to cost PKR20bn (US$190.8m) and will take grey cement capacity at the factory up to 18,000tpd...