Cement News tagged: Corporate
India: JK Lakshmi approves raising INR5bn
A JK Lakshmi Cement board meeting held on 26 October approved the raising of INR5bn (US$74.7m) through the issuance of non-convertible debentures (NCDs) on private placement basis. The company issued a statement to this effect to the BSE. JK Lakshmi Cement operates integrated plants at Sirohi (Rajashthan), Durg (Chhatisgarh), Kalol and Surat in Gujarat and Jharli (Haryana). The company boas...
Pakistan: Maple Leaf and Thatta Cement 1QFY16/17
Pakistan's Maple Leaf Cement Factory earned profit after tax of PKR1.185bn (US$11.3m) in July- September 2016 compared to PKR846.72m in the corresponding period last year, representing a 40 per cent rise. The company's net sales increased to PKR5.52bn from PKR4.96bn in 1QFY15/16. It incurred higher distribution cost of PKR373m and administrative expenses of PKR124m from PKR303m and PKR112m ...
HeidelbergCement completes Belgian assets' sale to Aalborg Portland Holding
HeidelbergCement has completed the sale of operations in Belgium, primarily consisting of Italcementi’s Belgian subsidiary Compagnie des Ciments Belges SA (CCB) to Aalborg Portland Holding SA (Cementir Group). "With the disposal of the Belgium assets we fulfill the obligation of the European Commission and improve the net financial position of HeidelbergCement after the acquisition of Italc...
India: Jaiprakash Associates shareholders agree to sale
Jaiprakash Associates Ltd (JAL) on Monday said its shareholders have approved the sale of the firm's cement business to Aditya Birla Group's UltraTech Cement. Approval from Competition Commission of India (CCI) has been received and the next step involves seeking approval from the concerned High Court and the final approval from capital markets regulator. Earlier this year, the Aditya Birla...
Spain: Portland Valderrivas quadruples 9M loss
FCC subsidiary Cementos Portland Valderrivas of Spain reported a EUR233.3m loss in the first nine months of 2016, quadrupling its loss noted in 9M15. Revenues stood at EUR429.3m, 1.6 per cent below Jan-Sep 2015, as a result of shrinking markets in Spain and Tunisia, according to the company’s filing with the National Market Commission (CNMV). Cement sales advanced 1.7 per cent, aggregates b...
Peru: Cementos Pacasmayo 3Q16 net income falls 21.7%
Cementos Pacasmayo SA's consolidated results for the 3Q16 and nine months (9M16) ended 30 September 2016 recorded cement, concrete and concrete block volumes were down 1.6 per cent, largely due to extraordinary spending in regard to El Niño prevention in 3Q15, says Businesswire. Revenues rose 0.4 per cent to PEN314.2m (US$83.5m), while the consolidated EBITDA of PEN04.5m was up 4.9 per cent...
Mozambique: Metuge cement factory opens
The Metuge cement factory in the Mozambican province of Cabo Delgado began commercial operations on 21 October following an investment of US$24m, Mozambican news agency AIM reported. At the inauguration the President of Mozambique, Filipe Nyusi, said that the new plant will increase overall cement production in the country by six per cent and by 67.6 per cent in the north of the country. AIM...
India: Emami Cement hopes to add 15-20Mta in 3-5 years
India-based Emami Cement has plans to construct new plants that will add 15-20Mta of capacity to its portfolio over the next 3-5 years, as reported by The Times of India. Director of Emami Cement, Aditya Agarwal, said, “We aim to be among the top three players in the cement industry. We expect our cement division's turnover to touch [INR25bn] in 2018-19.” The company, which began operations...
India: ACC commissions Sindri grinding unit
ACC Ltd's 1.35Mta Sindri cement grinding unit in Jharkhand, which is a part of the Jamul Integrated project, has also been commissioned and commercial production has commenced with effect from 22 October 2016. The company's two cement grinding units in Jamul and at Sindri, totalling 2.45Mta, will help strengthen the company's market presence in the eastern region.
Van Aalst and Heila Cranes sign cooperation and distribution aggreement
Agreement signing between Van Aalst Bulk Handling and Heila Cranes Van Aalst Bulk Handling and Heila Cranes have signed an exclusive cooperation and distribution agreement. Giampiero Traetta, CEO of Heila Cranes, said: “We are delighted to further strengthen our cooperation. In recent years, Heila has invested heavily in improving the manipulators. We reviewed and improved the struc...
Qalaa Holdings to sell stake in ASEC Algeria Cement
Egypt-based Qalaa Holdings has signed a preliminary agreement to sell its entire 100 per cent stake in ASEC Algeria Cement for some US$60m, according to Reuters.
Egypt: mixed 9M16 results for Suez and Tourah
Suez Cement reported a net profit of EGP49.6m (US$5.59m) for the first nine months of 2016. For the third quarter the company saw losses of EGP-66.9m, an increase from EGP-63.3m the previous year. Tourah Cement improved its net loss by 50.4 per cent from EGP-107.203 in 9M15 to EGP-53.149m in Jan-Sep 2016, according to a bourse filing. In the third quarter the company reported a 43 per cent ...
China: Gansu Qilianshan Cement 9M16 net profit up 223%
Gansu Qilianshan Cement Group Co Ltd, a subsidiary of Sinoma, reported a net profit hike of 223.3 per cent YoY to CNY204m for the first nine months of 2016.
China Resources Jan-Sep net profit declines 35%
China Resources Cement reported a 35 per cent fall in net profit for the first nine months of 2016 as weaker revenues impacted profits of the Hong Kong-listed cement producer. Net profit in Jan-Sep declined to HKD838.3m (US$108m) from HKD1.28bn in 9M15. Revenues saw a 12 per cent drop to HKD17.48bn. For the three months ended September, the company posted a net profit of HKD580.8m, consider...
Indonesia: new Indocement plant commissioned
Indonesia’s Minister of Industry, Erlangga Hartarto has commissioned a new cement plant of PT Indocement Tunggal Prakarsa Tbk in Cileungsi, Bogor District, West Java. "The government appreciates the use of high technology in the new factory, with an annual production capacity of 4.4Mt,” the minister said. The unit represents an investment of IDR5.6tn, a reflection of the country’s attractiv...
HeidelbergCement appoints new Board of Directors for Italcementi
The HeidelbergCement 19 October shareholder meeting establisheda new Board of Directors for Italcementi. The new members are Luca Sabelli (chairman), Dominik von Achten (executive vice president), Lorenz Näger (executive vice president) and Roberto Callieri (CEO). HeidelbergCement purchased the remaining Italcementi shares that had not been tendered in the mandatory tender offer on 12 Octobe...