Cement News tagged: Corporate

Cementos Bío-Bío 1H16 profits down 10%

02 September 2016, Published under Cement News

Chile’s Cementos Bío-Bío saw its profits during the first half of 2016 fall by 10.1 per cent to CLP9168.69m from CLP10,200.19m reported in 1H15. Revenues increased 6.6 per cent from CLP142,479.58m in 1H15 to CLP151,900m.

Malaysia: CMSB 1H16 cement profits down 24%

08 September 2016, Published under Cement News

Cahya Mata Sarawak Berhad (CMSB) has announced its earnings figures for the first half of 2016, including those of its cement division. This recorded a pretax profit of MYR41.7m (US$10.2m) on revenues of MYR275m. Both figures were down on those from the same period in 2015, with profits falling by 24 per cent and revenues 6.6 per cent lower. Profits fell faster than revenues due to CMSB’s i...

Dangote announces price rise, starts coal mining in November

01 September 2016, Published under Cement News

Dangote Cement's sales growth remains robust with Nigerian vollumes up 15 per cent in July and August. However, in the current quarter, the company has seen disruption to the gas supply, its preferred fuel in Nigeria. This has led to a substantial hike in its fuel costs as the company increasingly relies on LPFO and, to a lesser extent, on coal as prices for these alternatives are up to three ...

Pakistan: DG Khan sees profit up 15%, expands capacity by a further 2.2Mta

01 September 2016, Published under Cement News

Pakistan cement producer DK Khan Cement Co announced a 15 per cent YoY rise to PKR8.79bn (US$83.9m) in its profit after tax in FY16 from PKR7.624bn in FY15. Its sales rose to PKR29.703bn from PKR26.104bn in FY15bn and cost of sale increased PKR17.035bn  from PKR16.649bn in the same period. Along with financial results, the company also announced a full and final cash dividend of PKR6.0/shar...

Holcim Philippines appoints COO

Holcim Philippines appoints COO

01 September 2016, Published under Cement News

Holcim Philippines announced Thursday that its board has appointed Sapna Sood as Chief Operating Officer (COO), effective 1 November 2016. Ms Sood previously acted as Group Head of Health and Safety at LafargeHolcim and held the position of Head of Helium in the Asia-Pacific region for Linde Group. The appointment comes as part of the preparations for CEO Eduardo Sahagun’s retirement on 19 ...

Dangote exports Ethiopian cement to Kenya

31 August 2016, Published under Cement News

Kenya's cement market is now being supplied with cement from a new source as Dangote has started exports from its 2.5Mta Ethiopian plant to the east African country. Industry sources said the majority of the exports are destined for road construction projects in the north of Kenya. The step is expected to drive down prices in a market that has seen virtually no price changes in the past ...

Sweden: Swerock to acquire HeidelbergCement operations in Western Götaland

Sweden: Swerock to acquire HeidelbergCement operations in Western Götaland

31 August 2016, Published under Cement News

Swerock AB has signed a deal with HeidelbergCement Northern Europe to acquire the latter’s gravel and rock operations. The two companies have signed a letter of intent and are expected to reach a more comprehensive agreement on 1 September 2016. The HeidelbergCement assets affected by this deal generated revenues of SEK110m (US$13m) in 2015.

LSR sees 10% rise in 1H16 sales but 22% drop in EBITDA

31 August 2016, Published under Cement News

Russia’s LSR Group reported a 10 per cent increase in sales in 1H16 to RUB31.618bn. However, EBITDA fell by 22 per cent to RUB4.486bn and the company’s EBITDA margin stood at 14 per cent. Profit for the period decreased by 72 per cent to RUB1.1bn. The company’s net debt/EBITDA ratio was 1.09, according to a company press release. Andrey Mochanov, CEO and chairman of the Executive Committee o...

Cemex re-organises its Cementos Chihuahua investments

30 August 2016, Published under Cement News

Grupo Cementos de Chihuahua’s ownership is being restructured, with Cemex taking a 23 per cent direct stake as well as a minority interest in Camcem, which will be the majority shareholder in Cementos de Chihuahua. Cementos de Chihuahua will remain a quoted company. Cementos de Chihuahua saw its turnover for the first six months decline by 1.4 per cent to US$333.4m, with the US operations r...

Indonesia: Chinese plant begins production in West Papua

30 August 2016, Published under Cement News

A new cement plant funded by China’s State Development and Investment Corporation (SDIC) has begun operations in the Indonesian state of West Papua, China Daily reports. The 1.5Mta plant was designed by Anhui Conch and forms part of SDIC’s wider investment strategy in Indonesia. The plant was built at a cost of CNY2.2bn (US$329m) over a 16-month period. Li Bing, vice president of SDIC, s...

China: Socam to sell part of its stake in Nanjing Jiangnan Cement

30 August 2016, Published under Cement News

Socam Development is to sell a 35 per cent stake in Nanjing Jiangnan Cement to property developer Country Garden for CNY147.6m (US$22m), Etnet reports. Socam Development will retain a 25 per cent stake in Nanjing Jiangnan, and intends to sell this to Country Garden at a later date. 

Egypt: Sinai Cement returns to profit

30 August 2016, Published under Cement News

Sinai Cement has announced that it earned a net profit of EGP15.4m (US$1.7m) for the first half of 2016, reversing the EGP28.7m losses that it recorded in the same period last year, Mubasher reports. Performance was even more encouraging when considering the second quarter alone. In the period April to June 2016, Sinai’s profits were EGP52.6m as compared to a loss of EGP17.6m in 2015. 

India Cements to develop Coromandel limestone

26 August 2016, Published under Cement News

India Cements has proposed the development of the Coromandel limestone mine in Chilamkur and Kalamalla, Mandal Yerraguntla, Andhra Pradesh. The project represents an investment of INR1650m (US$24.6m), including the cost of the land. The 413ha site would yield around 3Mta of limestone, which the company would use for captive consumption at a new 2Mta greenfield clinker plant, located next to...

Cherat Cement posts FY16 results, plans second line

26 August 2016, Published under Cement News

Pakistan's Cherat Cement Company Ltd (CHCC) has announced its FY16 results, which saw the company reporting a profit after taxation of PKR1.405bn (US$13.4m) compared to PKR1.288bn in last corresponding financial year, an increase of nine per cent.  According to a company statement to the Pakistan Stock Exchange (PSX), its net sales increased by eight per cent to PKR7079bn whereas the cost o...

Kenya: Bamburi reports KES4.27bn profit

26 August 2016, Published under Cement News

For the 1H16 Bamburi Cement Ltd reported a pre-tax profit of KES4.27bn (US$42.12m), compared to KES4.5bn achieved in 1H15. Turnover for the six months stood at KES19.11bn (US$188.5m) versus KES19.32bn for the same period last year.

Belarusian Cement to merge with Minsk Silicate Materials

26 August 2016, Published under Cement News

Belarusian Cement Plant, located in the Kostiukovichi Mogilev region, is set to incorporate OAO Minsk Silicate Materials Plant. The merger is due to be finalised by December 2016. The Belarusian Cement Plant will increase its statutory capital by issuing 287,227 supplementary shares valued at BYN10 (US$4.97) each. These will be transferred to the state, expanding the state-owned stake in th...