Cement News tagged: Corporate

Denmark: FLSmidth 2H16 revenues fall 19%

19 August 2016, Published under Cement News

FLSmidth's revenue decreased 19 per cent to DKK4135m (US$620.7m) in 2Q16 (2Q15: DKK5093m  or US$764.5m). The revenue improved sequentially from 1Q16 but was nevertheless lower than expected in 2Q16. The gross profit in 2Q16 decreased to DKK1078m from DKK1327m in 2Q15, corresponding to a gross margin of 26.1 per cent (2Q15: 26.1 per cent). The gross margin is still holding up despite prici...

United States: Sunrise reports progress on Pozz Ash project

16 August 2016, Published under Cement News

Sunrise Resources has said that it has made “positive progress” in the development of its natural pozzolan Pozz Ash cement, Proactive Investors reports. Based on preliminary results from a concrete producer testing the product, Sunrise has concluded that Pozz Ash has good commercial potential providing the cement’s clay content can be reduced. 

Germany: KHD suffers 1H16 revenue fall by 25.5%

19 August 2016, Published under Cement News

KHD's 1H16 revenue amounted to EUR66.6m, considerably lower than the figure for the previous year (EUR89.4m). Reasons for the decrease of 25.5 per cent are the relatively low order backlog at the beginning of the year, delays in project execution, reductions in order value and order intake that did not materialise in the 1H16. The gross profit for the first half-year was EUR-2.1m (previous y...

Magnesita reports US$45.4m net income in 1H16

16 August 2016, Published under Cement News

Brazil-based Magnesita Refratários SA registered net income of US$45.4m between January and June of 2016, after a US$5m loss in the first half of 2015. The performance was driven by better operational results and foreign exchange variation. The company's adjusted EBITDA reached US$80.5m, with a 16.5 per cent margin, compared to a 15.4 per cent margin in the first semester of 2015. Consolidated...

USA: Martin Marietta elects new Board members

USA: Martin Marietta elects new Board members

16 August 2016, Published under Cement News

Martin Marietta Materials Inc has appointed a new independent director to its Board of Directors. John J (Jack) Koraleski, former chairman of the Board of Directors and CEO of Union Pacific Corporation, was elected to Martin Marietta's Board of Directors on 15 August 2016. Mr Koraleski, 65, will serve on Martin Marietta's Audit Committee, Management Development and Compensation Committee, an...

India: Shree Cement profits hit US$76m in 1QFY16-17

15 August 2016, Published under Cement News

In its trading results for the first quarter of FY2016-17, Shree Cement has seen its profits improve to INR5.1bn (US$76m). This represents an increase of 388 per cent on the same period last year. Cement sector revenues rose by 51 per cent to INR22.9bn (US$342m). Declining power and fuel costs helped Shree’s bottom line. These fell by 21 per cent to INR3.3bn (US$49m). The company has als...

Krasnoselskstroymaterialy chases profits in Poland and Russia

Krasnoselskstroymaterialy chases profits in Poland and Russia

18 August 2016, Published under Cement News

Belarus cement producer Krasnoselskstroymaterialy is optimistic that its finances will return to the black by the end of 2016, reports BelTA news agency. The enterprise will seek to boost its exports to Russia and Poland while raising its output of cement. "We have refocussed our enterprise and penetrated new markets in Poland and Kaliningrad Oblast. When we only started to penetrate them...

Nepal: Arghakhanchi Cement to expand capacity to 1Mta

15 August 2016, Published under Cement News

Arghakhanchi Cement is to spend NPR4.13bn (US$38.6m) expanding the output of its cement plant from 1200tpd to 3000tpd, giving it a nominal capacity of around 1Mta. The Kathmandu Post reports that the company has also opened a letter of credit to buy a factory based on VRM technology from FLSmidth. Managing director, Rajesh Agrawal, said: “If we don’t increase our capacity and achieve econom...

UAE: Fujairah Cement sees 48% drop in revenues

15 August 2016, Published under Cement News

Fujairah Cement Industries saw its revenues fall by 48 per cent to AED164.2m in 1H16 from AED315m in 1H15. The UAE-based company saw its profit for the period ended 30 June 2016 more than halve from AED33.3m to AED16.5m.

Tanzania: Tanga Cement 1H16 profits rise 55%

12 August 2016, Published under Cement News

Tanga Cement has realised 55 per cent increase in net operating profit for the past six months despite strong competition from other cement companies as well as cheap cement and clinker imports. Board Chairman, Lawrence Masha, said the company has more than doubled clinker production from 0.45Mta to 1.23Mta. The output increase follows the commissioning of the second kiln at the plant, whic...

Canada: Quebec state investment fund to take controlling stake in McInnis

12 August 2016, Published under Cement News

The Caisse de Dépôt et Placement du Québec has agreed to plans to inject an additional CAD250m (US$193m) into McInnis’s Port-Daniel integrated plant project under a deal which sees the state investment fund take a controlling interest in Beaudier Ciment, McInnis’s majority shareholder. Reuters quotes a spokesperson for the Caisse as stating that the project faced cost overruns of up to CAD5...

United States: Kosmos Cement plant suffers fatality

12 August 2016, Published under Cement News

A person has died after a workplace accident at the Cemex-owned Kosmos Cement plant in Louisville, Kentucky, USA Associated Press reports that local police attributed the accident to a mechanical failure in a pulley system. An investigation is currently underway and the victim has yet to be identified. In April, Kosmos Cement agreed to pay a US$400,000 after admitting negligence that led...

India: Birla Corporation sees Q1 cement profits rise 441%

11 August 2016, Published under Cement News

Birla Corporation has released its quarterly financial results for the three months to the end of June 2016. During this period, Birla’s profits from its cement operations rose by 441 per cent compared to those from a year earlier, standing at INR1.1bn (US$16.3m). Cement revenues were also up, albeit not as spectacularly. In 1QFY16-17 total revenues were INR8.3bn (US$125m), an increase of 1...

Jordan: Northern Cement 2Q16 profits drop

12 August 2016, Published under Cement News

Northern Cement Company have reported a 7.6 per cent decline in profits to JOD3.79m (US$5.4m) for the second quarter of 2016, compared to profits on JOD4.1m  seen in the same period last year. Profits for the first half of the year also fell, dropping 8.71 per cent YoY. Profits for the first half of 2016 were JOD6.8m compared to JOD7.4m in the first half of 2015.

India: Mangalam Cement conducts new milling trial

11 August 2016, Published under Cement News

Mangalam Cement has undertaken a trial run of its new 0.75Mta grinding unit, located at Aligarh in Uttar Pradesh. The new unit brings Mangalam’s capacity up to 4.0Mta.

McInnis Cement breaks ground on US cement terminal

12 August 2016, Published under Cement News

McInnis Cement officially broke ground at the new cement company's first US terminal in the Port of Providence. The overall cost of the project is expected to reach US$22m when completed by year-end. Construction will begin shortly on the existing ProvPort warehouse, which will be transformed into a world-class receiving and storing facility. McInnis Cement will also build a modern rail and tr...