Cement News tagged: Corporate
Pakistan: Dewan Cement to sell its North cement plant
Dewan Cement Ltd has appointed Next Capital Ltd as the financial advisor for sale of its North cement plant, Kamilpur, near Hattar in Khyber Pakhtunkhwa, Pakistan. Next Capital Ltd will explore the possibility of sale of the North plant which has a production capacity of 3800tpd. The Board announced that this plant sale would be run in parallel with the potential sale of 51 per cent of ...
Canada: first shipment at McInnis Cement
McInnis Cement has taken delivery of its first shipment of raw materials for its 2.5Mta Port-Daniel-Gascon plant. The vessel Algoma Mariner delivered to the Port-Daniel terminal, Canada, 19,000t of gypsum from National Gypsum at Halifax, Nova Scotia. The terminal is scheduled receive an additional four shipments of raw materials and fuel for the new cement plant by mid-December. Construc...
Morocco: Cemos announces plans for Tarfaya plant
Morocco’s Challenger magazine has reported that Jersey-based Cemos Group plans to construct a MAD3bn (US$296m) cement plant in Tarfaya in the country’s southwest. The 1.6Mta integrated plant will utilise local deposits of oil shale as an energy source. In this way, Cemos – which is a portmanteau of Cement from Oil Shale – hopes to keep costs down, paving the way to allowing it to export som...
HeidelbergCement submits EIA for Kaspi
HeidelbergCement has submitted an environmental impact assessment for its US$100m Kaspi modernisation in Georgia. The report will be discussed on 17 January 2017 after interested entities have submitted their comments. The new dry-process line will be able to produce 3000tpd of clinker. The modernisation project aims to reduce fuel consumption as well as provide the opportunity to use alter...
Pakistan: Kohat Cement Co sees 5% profit rise in 1QFY17
Kohat Cement Company Ltd (KOHC) has recently announced its 1QFY17 financial result. It declared a profit after tax (PAT) of PKR991.8m during 1QFY17 against a PAT of PKR945.7m during 1QFY16, up five per cent YoY. As against trends, KOHC declared dividend per share (DPS) of PKR4/‐ during 1QFY17. During the first quarter of FY17, KOHC reported a one per cent YoY drop in sales as revenues slipp...
Birla 2Q16 net profit more than doubles
Birla Corporation have reported a net profit of INR584m (US$8.49m) for the quarter ended 30 September 2016 compared to INR232m for the same period last year. Total income declined 4.3 per cent to INR8.86bn in the July-September quarter from INR9.27bn in the previous year. Total expenses also fell, registering at INR8.43bn versus INR8.99bn in the corresponding quarter last year. In the sa...
Cementos Argos hit by Colombia’s infrastructure slowdown
In a trading update for the third quarter of 2016, Cementos Argos announced that its profits were down by 22.7 per cent YoY, with cement volumes falling by 7.4 per cent to 3.557Mt. Figures for the nine months to the end of September 2016 were more positive, with the company’s net income rising by 18.7 per cent YoY to COP393bn (US$125m). The third-quarter figures were negatively impacted ...
India: COMPAT stays UltraTech’s CCI penalty
The Competition Appellate Tribunal (COMPAT) has granted a stay on an order passed by the Competition Commmission of India (CCI) against UltraTech Cement on deposit of 10 per cent of the penalty amount. CCI handed UltraTech a INR11.75bn (US$171.6m) penalty in August 2016 for supporting cartelisation. In total the CCI handed out penalties amounting to over INR67bn to 11 cement firms for this ...
HeidelbergCement merges HC Trading and Interbulk Trading
Following the acquisition of Italcementi by HeidelbergCement Group, HC Trading and Interbulk Trading have merged their operations into a new company with a total turnover of round US$1.4bn (based on 2015 trade volumes). The merger of HC Trading and Interbulk Trading under the entity of HC Trading BV will carry the group’s international trading activities, specialising in cement, clinker, co...
LafargeHolcim invests in new Colombia plant
Holcim Colombia has announced it will begin the construction of a new cement plant in Buga, Valle del Cauca, Colombia. The new plant will have a capacity of 0.5Mta and represents an investment of US$30m. It is expected to employ 200 people during its construction phase with a further 180 direct and indirect jobs in transport logistics between Buenaventura and Buga. “I would like to ...
Cemento Polpaico net profits quadruple YoY in 9M16
Chile’s Cemento Polpaico saw its revenues decrease by 1.14 per cent to CLP108,669.55m in January-September 2016 from CLP 108,927.811m. However, net profits during the first nine months of 2016 more than quadrupled from CLP816.866m in 9M2015 to CLP4153.866m when compared with the 9M16. The company noted a significant fall in finance costs as well as higher financial revenues.
Arabian Cement to start Rabigh grinding unit operations in 4Q17
Arabian Cement Co reported construction at its Rabigh grinding facility is ongoing. However, in a bourse filing the company said it expected commercial operations at the unit to start in 4Q17.
India Cements profit up 62%
For the quarter ended 30 September 2016, India Cements Ltd (ICL) reported a 62 per cent increase in standalone net profit to INR624m (US$9.17m) compared to 38.5 in the same period last year. Total standalone net income rose 6.9 per cent to INR13.14bn in the period under review, up from INR12.29bn the previous year. Total expenses were 7.9 per cent higher at INR11.35bn in the period. Meanwhi...
GCC acquires multiple Cemex operations
GCC has announced the acquisition of multiple Cemex operations in the USA. The acquisition comprises a cement plant (Odessa, Texas), two cement terminals (El Paso and Amarillo, Texas) and one construction materials business located in El Paso, Texas, and Las Cruces, New Mexico, comprised of eight ready mix plants, six aggregate plants, five asphalt plants and five distribution centres. T...
Pakistan: DG Khan and Maple Leaf projects on target
Work on DG Khan Cement Co's US$300m Hub cement plant in Balochistan, Pakistan, is progressing well. The 9000tpd works is expected to receive major shipment between October 2016 and April 2017. Commissioning is scheduled for FY2018. Meanwhile, Maple Leaf Cement Factory's 7000tpd grey clinker plant has received approval from its Board. The PKR20bn facility is due to start commercial operation...
Cimpor hit by the weakness in volumes and currencies
Cimpor's nine-month turnover fell by 28.5 per cent to EUR1379.4m and EBITDA dropped by 33.1 per cent to EUR264.6m as cement deliveries in Portugal, Brazil and Argentina declined by 35.7 per cent, 19.8 per cent and 11.7 per cent, respectively, with single-digit reductions being seen in South Africa and Egypt. Mozambique saw shipments improve by 11.2 per cent and Paraguay by 10.8 per cent. A ...